Several Ways Cyber Criminals Steal Your Money From Debit/Credit Card


Well, I guess there are very few people who still prefer to get things done in offline. Right from making complaints on social media, shopping, to bank transactions, we have moved online. Even in offline shopping, people prefer payment using credit and debit cards instead of direct cash.

When there is such huge advantage where you need not carry huge amount of cash in bags, there is also a disadvantage that cyber criminals have mastered the art of exploiting vulnerabilities.

Every day, we hear some news related to debit/credit cards-related frauds, malware attacks etc. Last year, Indian banks such as HDFC Bank, ICICI Bank, Yes Bank, Axis Bank and SBI were targets of the biggest financial data breach of the country as many as 3.2 million debit cards were hacked.

We like to bring out the 15 ways cyber criminals try to steal money from your Debit/Credit cards.


1. They Record Inputs Using Fake Keyboards


In order to steal the PIN, cyber criminals install fake keypad over on the actual keypad. Using fake keypads, they record PIN inputs. They capture people’s PINs through a false keypad which is known as a ‘pin-pad overlay’.


2. Skimming – Reads The Information On Card Magnetic Strip


A counterfeit reader is fitted into ATM machine that reads and stores all the information given on the magnetic strip on the card. Hackers use this information later for stealing money.


3. Pharming – Takes You To A Fake Website Which Seems Original


Fraudsters take users to a fake website that seems similar to the original. You think it is original and pay via credit or debit cards as the site looks exactly as original. The card details are stored and later used to steal money from your account.


4. Card Trapping In ATM


When you insert your card in the machine, it retains the card and the card is retrieved later.


5. Hidden Cameras Near ATM Machines


Criminals install spy cameras near ATM machines that are strategically fitted in a way to read your card PIN number. As they are quite small in size, it is usually fitted near the keypad.

Pavani Bharathula
I am Pavani, stands for highly deterministic, self-motivator, highly individual, independent and bold person; like to inspire and motivate people through my writings and speeches.