At Duncan Legal, PC, we believe protecting your legacy starts long before your will or trust is finalized — it begins with safeguarding your assets today. While our work often focuses on long-term legal and estate planning, everyday financial security plays an equally important role in protecting your family’s future.
In 2025, ATM and card skimming remain real and growing threats, even as banking technology becomes more advanced. Staying aware and taking a few simple precautions can go a long way toward keeping your finances — and your identity — safe.
What Is ATM Skimming — and How It’s Evolved
ATM skimming is a form of financial fraud where criminals secretly install devices on ATMs or card readers to capture card data. When you insert or swipe your card, the skimmer records your information, while a hidden camera or “shimmer” device captures your PIN or chip transaction.
Unfortunately, these scams have become far more sophisticated:
- Internal skimmers are now installed deep inside card slots, nearly impossible to spot from the outside.
- “Shim” devices exploit EMV chip technology, allowing criminals to copy chip data.
- Some fraudsters even use “jackpotting,” malware that forces ATMs to dispense cash on demand.
Even with chip-enabled cards, the risk remains high — especially at non-bank ATMs found at gas stations, convenience stores, or retail locations.
Why It Matters in 2025
According to the American Bankers Association, ATM-related crimes have continued to rise in 2025, with notable increases in both skimming and physical exploits. In 2024 alone, U.S. consumers lost nearly $8.7 billion to fraud across all payment types.
Criminals are also becoming more creative. The analytics firm FICO reports that fraudsters now combine physical skimming with AI-based phishing and account takeover schemes, merging old-school and digital tactics.
And while EMV chip cards are more secure than magnetic stripe cards, they are not foolproof. That means ongoing vigilance is key to preventing loss and protecting your financial well-being.
The Legal and Regulatory Landscape
While Duncan Legal, PC focuses on estate planning and asset protection, understanding your consumer rights is part of safeguarding your overall financial health. Here’s what to keep in mind:
- The U.S. Secret Service leads investigations into skimming and other financial fraud.
- Your liability for unauthorized transactions depends on how quickly you report the fraud and your bank’s specific policies.
- Many banks offer zero-liability protection, but you must act quickly and cooperate with their investigation.
- As of May 2025, new FDIC rules require updated digital FDIC signage on all newly installed deposit-taking ATMs, designed to help consumers identify legitimate machines.
Since liability policies and consumer protections can vary by state and financial institution, it’s important to review your bank’s terms and stay familiar with Colorado’s consumer protection laws.
How to Protect Yourself in 2025
While no system is perfect, you can take simple, effective steps to reduce your risk of fraud:
- Use bank-owned ATMs.
Most skimming occurs at third-party or retail machines. Bank ATMs are monitored and serviced more frequently. - Inspect before you insert.
- Wiggle the card reader — it shouldn’t feel loose or bulky.
- Look for mismatched colors or attachments near the keypad or card slot.
- Check for tiny cameras or unusual fixtures pointing toward the keypad.
- Shield your PIN.
Use your hand or body to block the keypad while typing your PIN. This quick motion can prevent most camera-based thefts. - Use contactless or cardless methods.
When possible, use mobile apps, QR codes, or tap-to-pay features to withdraw cash or make payments — avoiding physical card readers entirely. - Set up transaction alerts.
Enable real-time notifications for ATM withdrawals or purchases so you can respond immediately to suspicious activity. - Report issues immediately.
If you notice anything unusual or experience unauthorized transactions, contact your bank right away. You can also file a report with the FTC’s Consumer Sentinel Network or the Colorado Attorney General’s Office. - Upgrade outdated cards.
If your card doesn’t have chip or contactless technology, request a newer, more secure version from your bank. - Stay informed.
Fraud tactics change constantly. Keep an eye out for newer scams such as cash trapping (where thieves block your cash from dispensing) or hybrid physical-digital attacks.
Financial Security Is Part of Your Estate Plan
At Duncan Legal, PC, we believe protecting your financial security today is an important part of protecting your legacy tomorrow. Everyday vigilance complements long-term planning — from wills and trusts to powers of attorney and asset protection strategies.
By staying alert, informed, and proactive, you can reduce your exposure to fraud while ensuring that your hard-earned assets continue to serve your family and your future.
Your legacy isn’t just what you leave behind — it’s how well you protect it today.
Plan for the future and protect your family’s peace of mind.
Visit Us: 1610 Wynkoop St., Suite 200, Denver, CO 80202
Call Us: (720) 506-2536
Learn More: www.duncanlegal.com
