NEWS & ADVICE : FIXED DEPOSITS
Police arrests accused in ATM cloning scam
By Neelima Shankar
Apr 21, 2011
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In a positive step towards cracking the major ATM cloning scam which had been haunting people in Delhi and nearby areas since quite some time, the police has arrested one person.

The person named Vinod Kumar has been found to have withdrawn Rs 40,000 from an Oriental Bank of Commerce ATM in two installments.

He has been sent to judicial custody on Wednesday.

The cloning scam had gained weight since August 2010 with mostly ATMs of State Bank of India getting cloned. Customers have lost as much as Rs 20 lakh in total since that time.

Kumar managed to fix a matchstick behind the CANCEL option of the ATM machine and withdrew money in two installments.

His operations have been found to be similar to the cases where the hackers copied the ATM PIN of the customer by placing a magnetic chip in the ATM machine.


 


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