Credit Card Cloning on The Break

By SiliconIndia   |   Thursday, November 29, 2012
24
Separator
11
Separator
41
Separator
8
Separator
Print Print Email Email

Bangalore:  Four caught red handed for Credit card fraud in Delhi by the special cell of Delhi Police. The Police arrested them for cloning cards. The culprits had withdrawn crores from the accounts of the true card holders. Earlier this month also there had been a report filed about a gang which was indulged in credit card fraud especially cloning.

Going further on the mode of operation which the gang had opted DCP Sanjeev Yadav said, "The gang members would befriend cashiers at major retail stores. They would swipe the customer's card twice: first in the store’s card reader and then again at a machine called 'Skimmer' imported from Denmark. The data captured on this machine would later be copied onto another card with an empty magnetic strip” as quoted by ET.

The duplicate card which would be originated could be used on card readers, which the culprits obtained from the banks by providing ‘made-up’ firms located around Delhi. Thus results the possibility where the crooks could transfer the money into their own personal accounts so that it could easily be accessed.


Looking For Loan? Let us Help you !!!
Product
Name
City
Phone
Email
Loan Amount
Annual Income
Preferred banks
Captcha
Type the characters you see in the picture
  Submit
SPOTLIGHT
Bharti Airtel board approves
Telecom major Bharti Airtel on Thursday said its board of directors has approved fund raising ..
Brookfield to buy RIL E-W Pipeline
Canadian investor Brookfield has acquired the loss-making East-West Pipeline Ltd from Mukesh Amba..
90% of developing economies
Ninety per cent of developing economies, including India are falling behind or are at risk of fall..
Banks need to raise own capital
Public Sector Banks (PSBs) may raise capital themselves to meet regulatory and growth ..
Previous
Next