Credit card cloning fraud: This is how you can keep your money safe

Cases of credit card and debit card cloning are increasing steadily indicating that those people who have these cards must be very careful or they can suffer big loss of money. Virtually no day passes by without some report indicating such loss of money by for card holders. Many people have been falling into the trap laid by fraudsters. In yet another such incident, Delhi Police have cracked a case of alleged credit card and debit card cloning. The loss to customers was nearly Rs 4 lakh. The shocking case was brought to light by authorities after an employee of a restaurant was detained when a private bank filed a case that a few of their customers, who have credit cards and debit cards, complained about transactions being carried out by miscreants even though the cards were in their possession at the time when the money was removed from their accounts. So, what must you, the credit card and debit card holders do to ensure money is not lost? Read this guide: 

1. Credit Card and Debit Card cloning: Know how it happened

To find out what you can do to keep yourself safe, check what happened in this current case. The investigation in this case revealed that one restaurant in Connaught Place was the common point of purchase for all the cards. It led cops to the staff who used to clone cards of their customers. The alleged person was identified and he revealed that he used to re-swipe the card to clone it using a skimmer. He also used to note down the last four digits, PIN and bank name on the cards.

2. Credit Card and Debit cloning: What you should do

So, this instantly gives you a window into the method and what you should look for and keep a watchful eye on. Prabesh Choudhary, Director at Cryptus Cyber Security, has told ZeeBiz.com that anybody can be a victim of this trick and one needs to be alert while getting their credit card and debit card swapped at any sales terminal. 

3. Credit Card and Debit cloning: Save your money this way 

Your Credit card and debit card can be cloned at either bank ATMs or any other point where you swipe your card. A card is cloned by using a skimmer. It is a device that thieves attach to a bank ATM or a payment machine to trick people who are swiping their cards. 

Therefore, if you are visiting a bank ATM, you should check if the card slot or keyboard looks altered. If you are giving your card to anyone for swiping it using PoS machines, then you must not let your card disappear from your sight. Ask the salesperson to swipe your card in front of you and take it immediately after the transaction.

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4. Credit Card and Debit cloning: Smartphone alert! 

If you receive an OTP for any transaction which was not initiated by you, then you should immediately get your credit card and debit card blocked as an attempt may have been made to steal your money by compromising your handset. Needless to say, do not ever share the OTP number with anyone, even with your closest relatives and friends.