English
ATM Card Skimming: With the rising cyber crimes across the country, fraudsters are now targeting ATM card users. ATM Card skimming is a type of fraud where criminals steal the information from a person’s ATM Debit or Credit card. They often do it with skimming devices that are installed on ATMs, gas pumps, or other card-reading machines in public places. These machines are designed to capture a person’s card information when they swipe or insert their card.
Fraudsters take advantage of the skimming devices that are difficult to spot as they are often placed over the legitimate card reader and can be made to look like a part of the machine.
After a skimming device captures a person’s card information, the criminals use that to create a counterfeit card, make unauthorised purchases, or withdraw funds from the person’s account.
Sometimes, these fraudsters also install a dummy keypad or a small / pinhole camera, well-hidden from plain sight to capture ATM PIN. And sometimes, they pretend to be other customers standing near-by gain access to the PIN when the customer enters it in an ATM machine. And then they use the data to create a duplicate card and withdraw money from the customer’s account.
For breaking news and live news updates, like us on Facebook or follow us on Twitter and Instagram. Read more on Latest Business News on India.com.