skimming
n. The act of stealing credit card data by swiping the card through a machine that reads information on the magnetic strip.
skim v.

Example Citations:
A former waiter at a Manhattan restaurant charged last week with swiping credit card information is the latest perpetrator of “skimming,” the fastest-growing area of credit card fraud, the Secret Service says.
—Tom Lowry, “Thieves swipe credit with card readers; Waiters, clerks, organized crime take up ‘skimming’,” USA Today, June 28, 1999

Credit-card fraud, which the CBA reckons amounted to at least $162-million in the 12-month period ending March 31, is not new.

Nor is the creation of counterfeit credit cards. Through a technique known as double-swiping, a crooked merchant can duplicate the data on a credit card through an illegal device the size of a cigarette lighter that transmits the information and allows it to be copied.

Skimming,” as the operation is dubbed, has been a growing problem since 1997 and represented about half of all that $162-million.
—Timothy Appleby, “Chilling debit-card scam uncovered,” The Globe and Mail (Canada), December 10, 1999

Earliest Citation:
A study several years ago by Frost & Sullivan, New York, found that information on how to produce fraudulent credit cards or skim data from magnetic tape on cards was being circulated freely in prisons.
—Jeffrey Kutler, “Search for a More Secure Method Of Card-Reading Gets a New Entry,” American Banker, September 17, 1980

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