Debit Card Fraud: ( Beware ) – Your Money is at risk.
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:
- Cash withdraw from ATM machines or Point of sale (POS)
- Online shopping
Things required to withdraw cash from ATM machines or to make purchases through Point of sale ( POS ):
- ATM / Debit Card
- Pin Number
Things required for online shopping:
- Card number
- Expiry Date
- Card verification value ( CVV )
- One-time-password ( OTP )
How criminal debit money from ATM machine or POS Machine?
- By Card cloning, or
- By interchanging the card
By these above ways, criminal will able to:
- Withdraw money from ATM machine, or
- Make purchases using Point of sales (POS) machine.