Hackers steal Rs 1 crore using ATM cards: What you need to know

Hackers steal Rs 1 crore using ATM cards: What you need to know

Several ATM cards of the country’s largest nationalised bank, State Bank of India (SBI), were reportedly used to hack into bank accounts and steal Rs 1 crore in Agartala, Tripura. The modusoperandi of the crime is suspected to be card skimming. Here’s all you need to know about this case as well as what this ATM fraud is all about:

Hackers withdrew Rs 1 crore using cloned SBI ATM cards

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Stolen from 45 different accounts

Police suspects Turkish hackers
Police is suspecting the involvement of Turkish hackers in the case. Turkish hackers had struck in Guwahati earlier this year, stealing lakhs of rupees using ATM-cloning devices.

SBI blocked ATM cards of several users post the incident
SBI has blocked ATM cards of several users after the hacking attack. These cards were primarily used at four ATM booths in the city.

SBI has blocked ATM cards of several users after the hacking attack. These cards were primarily used at four ATM booths in the city.
According to the police, cybercriminals used skimming devices to withdraw money from these ATMs.

ATM skimming is the most common fraud
ATM skimming has been the most common ATM fraud. Both ATMs as well as POS machines can be rigged and personal information of the user can be stolen.

How skimming works
Criminals attach a device, called skimmer, to the ATM keypad. This thin cloning device is then used to steal the card information when it is inserted into the card slot in ATM machines.

Cameras too may be at work
As soon as an ATM card is punched it gets cloned and the attached keypad device transmits the customer’s PIN to the hackers. There may also be spy cameras installed at ATMs that capture the ATM pin as the user enters it.

Stolen details are used to clone cards
These details are then used to clone cards and withdraw money from other ATMs, as seems to be in this case as well.

Criminals also use thin film to capture keystrokes on ATM
In some cases, criminals also place a thin film on ATM keypad or POS machines to capture keystrokes.

SBI sent warning mail to customers
Earlier this year, SBI has sent mails to its customers warning them of ATM-related skimming frauds.

SBI lowered ATM cash withdrawal limit
In October 2018, SBI lowered the ATM cash withdrawal limit to Rs 20,000 a day from Rs 40,000. This skimming fraud is said to be one of the key reasons behind the move.

 

Source:- gadgetsnow

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