Think before swiping your card
In March 2016, statistics shows that around INR 31.93 lakh, was withdrawn from different cities by using various debit card and around 146 transactions taken place from cities like Chennai and Mumbai. The fraudsters in Ahmadabad made these transactions without any bank server malfunction.
The fraudsters, inserted malware in ATM’s system and the hackers or the fraudsters could get access to the ATM via laptop and mobile from any parts of the country.
Some banks have taken measures by restricting online overseas transaction. This might help prevent hackers to attempt to hack ATM from abroad.
In the year 2014-15, records shows that around Rs. 1,831.08 crore was withdrawn in Tamil Nadu and was victimised on banking fraud. All happened in ATM breaches, by the hackers using, malware, circuit breakers, to enter into ATMs bank server.
Puneet Kapoor, Senior Executive, Vice –president of Kotack Mahindra Bank, stated that the fraudsters uses fake overlay, which is similar to the card reader. They also hack into the tiny camera in the ATMs, and try to read the finger position of the ATM user. This is to read the pin code of the user.