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A Cunning Scam By Fraudsters

IamCheated.com Research Team | May 18, 2018  7:49:pm

You must have heard of card fraud and how it has become very common these days. Fraudsters use many techniques to steal your card details. One of the most common methods used to steal your card details is card skimming. In case of card skimming, fraudsters use a small electronic device called a skimmer, to steal your card information. Card skimming usually takes place when your card is inserted into POS or ATM slot.

Recently, Cyberabad Cyber Crime sleuths had arrested two foreigners for debit card fraud. As per the investigation, fraudsters from Romania indulged in fraud in Delhi and Hyderabad. Two of the four Romanians involved in the fraud have gone back to their country. The gang used to install skimmers and camera panels in the ATM's located far away from bank premises. With the help of these skimmers, fraudsters collected customer’s data and created duplicate cards.

Using the data collected from ATM booths at Hyderabad and Delhi, fraudsters used to withdraw money from ATM booths in Mumbai. The gang targeted ATM booths of Axis Bank, HDFC Bank, Canara Bank and Union Bank of India. They had cloned more than 2,400 debit cards from Hyderabad and Delhi.

The gang was busted after the Cyberabad Cyber Crime team received a complaint from a Hyderabad resident Anil Bhargava, who lost Rs 1 Lakh from his account.

In this scam, the gang members used to install card skimmers and camera panels in the ATM machine and collect them on the next day. During this time span, skimmer and the camera would collect the details of customers who have inserted their card in the machine.

See Also: Everything You Need To Know On Card Skimming

The fraudsters had obtained gift cards similar to bank cards by shopping at H&M stores. They then transferred each customer's data into the gift cards and they identified the PIN by checking the video footage.

As per the report, fraudsters withdrew Rs 40 Lakhs using the cloned ATM cards and police have recovered Rs 35 Lakhs from the arrested duo. Police have also recovered from their possession Rs 35 Lakhs, 196 skimmed cards and six camera panels.

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