Trending News
Mad About Money|September 2018

The New Atm Skimming Fraud and How to Save  Yourself From It!

IN THIS DAY AND DIGITAL AGE, ABSOLUTELY NO ONE’S BANK OR PERSONAL INFORMATION IS SAFE. ALL THANKS TO THE CURRENT GOVERNMENT’S OUTLOOK AS WELL AS THEIR AGGRESSIVE PUSH FOR A MORE CASHLESS ECONOMY, INDIA HAS SEEN A HUGE SURGE IN CARD USE. HENCE, INDIANS WHO ARE NOT THAT DIGITALLY SAVVY ARE BECOMING THE EASY TARGET FOR CRIMINALS AND FRAUDSTERS. NOWADAYS, PEOPLE ARE FALLING PREY TO THESE ATM FRAUDSTERS WHO USE CARD SKIMMING TECHNIQUE TO CLONE DEBIT/CREDIT CARDS TO WITHDRAW MONEY FROM REMOTE LOCATIONS.

ATM SKIMMING:

A theft of debit/credit card information is known as ATM Skimming. A small device which is known as skimmer is basically utilized to embezzle the information during an authentic ATM transaction. Once you swipe your card at the ATM machine, the skimmer device picks up the information stored on the card’s magnetic strip. Though, only the skimmer device is not enough to carry out the fraud. These criminals also place a small camera or even hack the bank camera to know the pin number of the card user. Once the pin number is recorded, these crooks use this information to steal money from you or to even clone your cards with the details.

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