CLONING OF BANK CARDS - FRAUDS

BANKING FRAUDS - DEBIT CARDS, NET BANKING ETC

  Fraudsters existed at all times, in our young days we used to hear that in Bombay there are "Expert Jeb Katre" (pick pockets) in Mumbai that you will not even know when they would take out your money are replace with papers in your pocket. They will hide a shaving blde in sech a manner in between their fingers and cut your trouser pocket without you noticing this Cheer - Faar.

Hence They are not new in the present day scene. There's been always a never ending  race between the CHOR _SIPAHI as to who will wins, Kabhi Chor Aage , Kabhi Sipahi Aage. They have been moving forward with technology and are becoming smarter and smarter every day. They can remain in business only if they are ahead of the Police, security agencies and above all the general public. It ,therefore,  should not surprise any one that they find Banks and their customers and the media in between vulnerable and take advantage.



Since it is our money there we are the one who have to beat these smart thieves. Our ignorence or lethargy is the one which is exploited by them

       It is not at all surprising to find so many victims of the ATM/DEBIT CARD CLONING who have rather are in the process of losing even at this time some where their hard earned money. It is traumatic for the loser. He will have to run from piller to post trying to invoke RBI provisions etc etc to recover his money from the insurer of the banks.However there is generally a very little chance that they will ever get their money back from banks. We donot know to what all, we agree to and signed the Terms and Conditions presented to us in small print while opening the bank accounts.

      We at Signals Parivaar have been giving some tips and instructions to safe guard your Bank Cards, Mobile phone data and Net Banking. In case your Debit card has been cloned and money has been withdrawn through ATM in the same town, there is hardly any chance for you to get your money back, however in case it has been drawn overseas there are chances of getting the same back.
Better Late Than Never.... we will like to share the precautions which have been taught to us by the Bankers and the ethnic hackers, with our blog readers as under:-

1. Please remember any thing free which comes to you should not be depended upon. your email is free, the internet is also as good as free, ATM transactions are also free. Here we need to be very very careful with our Passwords etc.
2. Since there are chances of cloning & hacking etc just keep a bank account other than your pension account for use with Debit card, internet banking etc for your normal day to day transactions.The best is to have two accounts. One for conventional banking of old days with cheque facility (YOu dhould get your pension here) and the other for the modern days for internet banking and digital wallets, e-shopping and for bill payments on line and drawing small cash with ATM. You will never lose money

3. Keep only limited balance in this account say 15 to 20 thousand only. do not attract fraudsters by keeping Lakh of rupees in your account, needs no elaboration, keep recharging this account through UPI as and when required.
4. Every time you use your Debit Card on ATM of the bank , Change the pin using your computer on line.
5.. Before inserting your card in the ATM check for cello tapes around and over the key board to find out in case there is a camera device etc over there, These days very thin cameras are available which are being used to record your PIN.
6. After the transaction at the ATM or POS, donot forget to press the red button. What I do is that I put my card back for another transaction and insert a wrong pin, I then cancel the transaction with the red button. This will delete previous transaction if recorded at the ATM. 7. Get the debit card with a chip, use it on the POS which read chip, avoid swiping.
8. Never let the card go out of your sight, Most frauds of cloning occur when Card is given to a waiter in a restaurant or at Petrol Bunk to pay the bills.
9. Obtain a credit card and use it for all transactions at merchant sites, Donot use your debit card there. The Credit card company pays to the merchant after two days, this time is available to stop payment in case of wrong transaction intimated to you on SMS, while in case of the Debit card its instant transaction which is irreversible. One can get a free credit card against your FD from most of the banks.
10 Do not get SMS alerts on your registered mobile stopped to save 18 rupees in a quarter. Your registered mobile is very very important donot leave your phone unattended carry it with you in your pocket,


12     Phishing – (From ICICI Bank) Phishing is a practice of sending e-mails to acquire information such as User ID, Password, One Time Password (OTP), Unique Reference Number (URN), Personal Identification Number (PIN) etc. by fraudsters trying to get your personal and financial details. This information is then used for unauthorised financial transactions in your account. Phishing e-mails and websites have a familiar appearance to deceive customers to think that the sender or website is a Bank/ RBI/ Private Company/ Income Tax Office etc.
    Eg. Receiving a fraudulent e-mail about E-Filing of IT Return.as shown in the adjoining image received from ICICI Bank

We often get calls from merchants and the bank representatives trying to sell their products, Most of these are out sourced by the banks. Simply refuse to talk to them, saying they should email youwhat ever they wish to say. If they are from the bank they will know your email ID etc. Just say that you you donot talk business on phone and dr0o the phone. Refuse to give any information incl your name.


You must know how the debit or credit cards are cloned, there are n number of videos on you tube, must know the technique employed by these modern day Chors.
The best way to guard against online fraud is to make all your online payments using a credit card. Never use your Debit Card for any on line or offline payment at any outlet. The details can be stolen / cloned and fraudulent payments made. The amount gets debited from your account and it takes a lot of time & effort to get the same back from banks specially PSU banks.
Credit card payments, on the other hand are made by the card Co & your account / money cannot be touched. On the occurrence of any unauthorised payment, one can raise the complaint and not pay the credit card amount. The credit card Cos are insured and cannot force a customer to pay, once a fraud has been notified. Ensure timely payment of your credit card bills and you have the most convenient way for any online payment.