From what I remember card skimming has been going on locally here in the UK too. I remember a report from the police into it a while ago; although they didn't go into as much detail about the devices used.
Here most cards are "chip and pin" so you need the magstripe, chip and PIN to make a transaction.
However in foreign countries, especially over the phone or internet where a PIN can't be entered, the information on the magstripe eg card number/expiry date can be enough. The trouble with foreign transactions is they can take days after the transaction before the bank reports them.
Many people with high limits wouldn't notice until the end of the month, or if their card gets declined for hitting its limit. There are people who can view their credit card statements online; which reduces the risk of a fraud going unnoticed for longer periods.
Either way its fraud, which banks have systems in place to detect, however fraud/Identity theft is hard for the police to investigate and prosecute without evidence eg fingerprints, mobile phone numbers, details of where the fraudulent sales were sent to etc.
I've known fraudsters use stolen card details to top up a mobile phone; others have just gone on a spending spree. A similar con is writing cheques that'll bounce (although that does at least give the retailer (and in States District Attorney) a name or names as well as address (from the bank or cheque) to prosecute.
That's great, is it your original or copied and pasted? Any chance of a Youtube version or an mp3?
E = MC ** 2 +- 3db