Card cloning is a technique used by fraudsters to steal money from your bank accounts with the help of your debit card. Card cloning takes place when you insert your card at an ATM machine to withdraw cash or at the POS machine while make payments. Normally, cloning takes place when you insert your card at an ATM machine. To carry out this fraud, fraudsters place a small electronic device called a skimmer in an ATM machine.
When your card gets run through a skimmer, the device captures and stores key information from your credit/debit card. This information is later used to carry out fraudulent transactions. Card cloning can be easily done with a magnetic strip card.
Recently, there have been many instances of card cloning where people have lost lakhs of rupees from their bank accounts. A few days back, nearly 70 customers of Union Bank of India (UBI) in Mumbai lost lakhs of rupees to card cloning. Fraudsters had siphoned nearly Rs 20 Lakh in less than six hours from their bank accounts. As card cloning increases, you have to be very careful while using your card at ATMs or POS machines. In this blog, we will discuss how to protect your card from card cloning.
See Also: Beware of ATM Card Swapping Fraud
Here are some tips to protect your card from card cloning
1. Use ATMs at busy locations
If you want to withdraw cash from an ATM, you must visit an ATM center located in busy locations like a shopping mall. You can use an ATM next to a bank branch. Do not visit the ATM which is located at a deserted place with no security guard.
2. Upgrade your card
If you are still using the card with a magnetic strip, upgrade to an EMV chip-based card with your bank. In case your bank has not upgraded to the latest technology, it is better to switch to a better bank which offers safety to your bank account.
3. Do not hand over your card to anyone
You must never hand over your card to anyone as it can be misused. While making payments at restaurants and petrol pumps make sure your card is swiped in your presence. Do not reveal your PIN number to anyone.
4. Avoid making card payments at small shops
Its advisable not to make card payments at small shops which have a POS machine that does not look like an ordinary bank-issued one. In such cases, you can make payments through cash or UPI. Avoid making card payments, if shop keeper is forcing you to do it.
5. Check the device
While withdrawing cash from ATMs, make sure to check the machine. Check if the camera is placed above the keypad. See if card inserting slot is shaky or loose. Avoid inserting your card in such places as a skimmer is most likely to be inserted.
See Also: How To Spot A Card Skimmer?
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