“The magnetic stripe on the back of your card has all information about
your card encoded on it. Sometimes, when the card is handed over, or gets
out of sight of the cardholder, fraudsters will use small pager-size devices
called ‘skimmers’ or readers/writers to copy the information on the magstripe
of the card. This information can be then put on other cards having a
magnetic stripe. These cards then become and behave like an exact replica
or clone of the cardholder’s existing card”