What is Debit Card Fraud?

Debit Card Fraud occurs when criminal gain access to your debit card / pin number to make online purchases or to withdraw cash from your account using ATM machines.

Function of debit card’s:

Debit card serve a dual purpose:

  1. Cash withdraw from ATM machines or Point of sale (POS)
  2. Online shopping

Things required to withdraw cash from ATM machines or to make purchases through Point of sale ( POS ):

  1. ATM / Debit Card
  2. Pin Number

Things required for online shopping:

  1. Card number
  2. Expiry Date
  3. Card verification value ( CVV )
  4. One-time-password ( OTP )

How criminal debit money from ATM machine or POS Machine?

  1. By Card cloning, or
  2. By interchanging the card

By these above ways, criminal will able to:

  1. Withdraw money from ATM machine, or
  2. Make purchases using Point of sales (POS) machine.