Theft of Over 7,000 Credit Card Numbers at Louisville Gas Pumps Speaks to Need for Physical Cash

November 17, 2017 Fatih Siyasi 413 Views credit card skimmer, identity theft, physical cash, U.S. Attorney

Eight Defendants Allegedly Stole Over 7,000 Card Numbers

According to the United States Attorney’s Office in the Western District of Kentucky, eight individuals have been indicted on federal charges stemming from their alleged roles in skimming credit card information of gas station customers at gas pumps. Six of the defendants have plead guilty and two are awaiting trial in federal court.

It is estimated that the accused employed up to fifty credit card skimmers deployed at gas pumps in the greater Louisville area. The number of victims exceeds 7,000 unique card numbers belonging to both individuals and businesses. The United States Attorney’s Office has provided banks and financial institutions with information where card numbers were compromised. The combined intended loss for the six cases exceeds $3.5 million.

U.S. Attorney Says Use Cash to Protect Yourself

Among the U.S. Attorney’s recommendations for reducing your risk of having payment card information stolen at the gas pump are:

checking for signs that the card reader has been tampered with;
using pumps in full view of surveillance cameras;
paying inside; and
paying with cash.

The last option, paying with cash, really is the only one of these recommendations that can prevent theft of your financial information for sure.

Cash is Still King?

Statist calls to ban larger denomination notes and eventually outright ban physical cash continue to pop up here and there in the mainstream. The argument is that physical cash is untraceable and therefore facilitates criminal and terrorist behavior, as well as tax evasion. India’s banning of larger denominations in 2016 was ostensibly targeted at reducing criminal behavior and government corruption. But the result has been an undisputed disaster that has had no quantifiable effect on criminal behavior.

But this Louisville case shows that, when push comes to shove, even the government has to admit that the only way to truly protect yourself from identity/credit card theft is to use cold, hard, physical cash.

You can read the U.S. Attorney’s press release for yourself here: Six Cases Prosecuted In Metro Louisville For Skimming Credit Card Information Of Gas Station Customers

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