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Beware: ATM Cards being cloned to withdraw money

Tuesday - May 14, 2019 10:16 am , Category : WTN SPECIAL

Reports say that cloning of banking cards has turned into an international market and several countries are facing the threat of banking frauds through cybercrime. 

Bhopal (WTN) : If the action taken by Omti police station of Jabalpur Madhya Pradesh is to be taken seriously we are at serious risk of losing money through cloned ATM cards.

People are unaware that while they are swiping ATM card there is a high possibility that somebody is watching and noting down the number of the card. A big racket is engaged in the cloning of banking cards with the help of technology invented in China. This Chinese software is easily available on the internet with a video tutorial on how to use the software.

Reports say that cloning of banking cards has turned into an international market and several countries are facing the threat of banking frauds through cybercrime. The technology invented in China along with MCR200 software (Magnetic Stripe Card Reader) is available on online trading websites.

A major chunk of are losing their hard earned money every day throughout India. The masterminds of banking card cloning are continuing their fraudulent practice without any check from the competent authorities.

In a major breakthrough, the Omti police in Jabalpur captured three members of the racket from Pratapgarh in Uttar Pradesh under their SHO Omti, Neeraj Verma. Police seized a large number of banking cards and other accessories from them.

The accused had purchased software MCR200 at the rate of Rs. 1 lakh from unidentified persons. They used spy camera mobile application for obtaining 16-digit banking card number of 4-digit secret code at ATM centres and immediately forwarded it to their another accomplice who sat at another place with a laptop to prepare clone of banking card.

The manufacturer of this software has specific features to access the banking cards of State Bank of India (SBI) and target its consumers in the country. The masterminds of banking card cloning racket are still untouched and operating their nexus in the country. It is hoped that they will also be soon taken into captivity. -Window To News