Chip-based ATM card hacked, Mumbai woman loses above Rs. 40,000

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Chip-based ATM card hacked, Mumbai lady loses above Rs. 40,000In an rare kind of crime, a Mumbai-based lady lost Rs. 40,700 from her account, after her ATM chip-card was cloned and cash was withdrawn.

ATM

She, in any case, got it refunded from her bank, since she wasn’t at fault; she didn’t share her OTP or account/card details , or violate any rule.Frauding by cloning chip-cards is to a great infrequent, as these cards have upgraded security embeddedShe got six withdrawal messages from her bankThe incident happened just about a fortnight ago on May-30 around 5.10PM.

The lady, who works in an Andheri-based corporate firm, said that between 5.14 to 5.18PM, she got six instant messages informing her about the withdrawals, all from various ATMs in Thane.Flustered, she approached toward her bank next day, who informed her that the card details of interest got cloned and proposed she approach the police.

Her bank refunded the amount as ‘she wasn’t to fault’Police said somebody probably noticed the PIN when she was using an ATM.Meanwhile, the private bank started their own investigation, which uncovered the lady was for sure not to blame and that she lost cash through card-cloning.Consequently, they refunded the full amount.Cybercrime experts said that however this is uncommon, ‘gleam’, the strip utilized for card-cloning, can likewise infiltrate through the chip.

In 2015, Mexico reported a series of such ATM frauds, despite the fact that chip-based cards were being used over there since years.It was later found that frauds used a further developed gadget than skimmers or overlays, called ‘gleams’, which are put on card-readers.

Named after ‘shim’ (spacer) that is used to fill little holes, sparkles target chip-based cards, particularly when they’re used as a part of ATMs.In 2015, RBI had made chip-based, PIN-enabled cards compulsory Back home, all banks were directed to issue just chip-based and PIN-enabled debit and credit cards September 2015 .This was aimed to protect customers from counterfeit (skimming) card fraud and lost and stolen card incidents.

Even before the RBI order, a few banks issueed EMV (Euro pay MasterCard Visa) chip and PIN empowered cards, however lion’s share of associations were utilizing magnetic stripe cards.

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