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Wednesday, June 26, 2013

Banks ask users of six ‘skimmed’ ATMs to immediately change PIN


3.2k Cardholders Intimated By One Bank Alone


    The cardholders who recently transacted at the six city ATM kiosks targeted in a skimming fraud are being asked to change their PIN as a precaution. 
    The National Payments Corporation of India—which provides the backbone system that networks all ATMs—has given banks the details of the cards that were used in the six ATMs during the period they were compromised. Cardholders have been asked to change their PIN immediately to thwart bids to misuse the stolen data. The PIN is essential for transacting on the web and at ATMs. 
    Police officers say that two Bulgarians in April installed a skimming device in an Axis Bank ATM at Colaba and copied card details of several users. Similar gadgets were reportedly placed in at least five other ATM kiosks in Mumbai-—whether by the same suspects is unknown as yet. 
    Using the data copied from the Colaba ATM alone, police officers say, the fraudsters stole Rs 15.5 lakh from 39 accounts, 14 of them belonging to policemen. The money was withdrawn from eight ATM kiosks in Greece. In the wake of the fraud, Axis Bank has reportedly urged 3,200 cardholders to immediately change their PIN. 
    With online banking frauds becoming increasingly regular, measures are afoot to make card payments more secure. Banks are intimating customers that for security their debit cards would be valid for international use only on request. 
    Furthermore, a host of new features are scheduled to be introduced from July 1. 
    At the behest of the regulator, card-issuing banks are migrating from the traditional magnetic stripe cards to chip cards. "A chip card has an embedded microchip. It is more secure than a card with just a magnetic stripe since the security chip makes it more difficult to fraudulently copy card details," said advocate Vicky Shah. The deadline for this card shift was June 31, but it is likely to be missed given that close to two crore credit cards need to be changed. 

    Still, once the effort is complete, card security will improve considerably: merchants will have to ask cardholders to punch a secret PIN besides obtaining their signature on the charge slip. 
    At the back-end, the Nation
al Payments Corporation of India is putting in place a realtime fraud protection system, which will reject transactions upon emergence of a fraud pattern. While complex features will deter fraudsters, bankers say the best security is to constantly change passwords and to keep a watch out for signs of phishing websites and ATMs that are tampered. 
Banks whose ATMs were used in Greece 
Panellinia Bank SA | Probank | Banco 
Dominicano Del Progreso | Bank 
of Cyprus Public Company | Citibank 
International Plc | Piraeus Bank | National Bank 
of Greece | Emporiki Bank of Greece 

Fraud Operation 
The two suspects allegedly installed skimming devices in an ATM and copied the card details of several people using the machines. Similar devices were placed in six other ATMs. 15.5 lakh was withdrawn from 39 accounts, 14 of which belonged to Mumbai policemen 

Investigation 
Three police teams have been formed for speedy probe. A letter rogatory has been prepared to be sent to Greece 

NECESSARY PRECAUTIONS 
Be aware of your surroundings at ATM kiosks. Be wary of people offering to help with transactions. Avoid using ATMs that appear unusual or offers options you find unfamiliar 
Do not allow anyone to watch you entering your PIN. Do not reenter it if an ATM swallows your card—instead, contact the bank 
Closely monitor your bank balance and statements 
Don't provide copies of both sides of the card. The reverse side has the CVV 

IF DEFRAUDED 
    
Immediately alert the bank about the fraud or suspicious transaction 
    Follow up with a written complaint 
    Lodge a police complaint and submit a copy of the first information report, along with the plaint, to the bank 
MEASURES BY BANKS 
    Customers are being warned against sharing card details and against operating an ATM in the presence of another person 
    Cardholders are being asked to inspect ATM for abnormalities before operating them 
Bank personnel are conducing frequent checks of ATMs to ensure fraudsters do not attach skimming machines to them 
Work is on to upgrade magnetic stripe cards to chip cards



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