Last week, Delhi police found that Rs 19 lakh had been fraudulently withdrawn from 87 accounts in three ATMs in the space of seven days. This was done by a procedure named skimming.
About:
What is it? Skimming is a procedure in which criminals clone ATM cards with stolen data.
The method:
A skimmer is a device designed to look like and replace the card insertion slot at an ATM.
The skimmers have circuitry that read and store the data on the magnetic strip of an ATM card even as the ATM processes the same data.
Typically, fraudsters also install pinhole cameras in inconspicuous places like the top of the cash dispenser or just above the keyboard to steal the PIN for the card.
Days after installation, criminals recover the skimming machines and cameras and collect the stolen data, and decode the PIN for a card. Using stolen data, the criminals clone ATM cards and use it.
Ways to prevent it? Prevention of skimming is possible with –
the alertness of people who load cash in ATMs and bank officials who can spot any illegal devices planted in ATMs;
posting guards at ATMs;
installing machines that do not facilitate installation of cameras and skimmers; and
use of new high-security bank cards that have facilities against theft of data through skimming.
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