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Maharashtra tops in ATM frauds, Delhi, Tamil Nadu, Karnataka follow

In Maharashtra, individuals lost Rs 4.8 crore to bank misrepresentation, while in Delhi individuals lost Rs 2.9 crore

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Maharashtra tops in ATM frauds, Delhi, Tamil Nadu, Karnataka follow

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  1. BUSINESS STANDARD Maharashtra tops in ATM frauds, Delhi, Tamil Nadu, Karnataka follow In Maharashtra, individuals lost Rs 4.8 crore to bank misrepresentation, while in Delhi individuals lost Rs 2.9 crore Maharashtra detailed 233 cases of ATM fraud in 2018-19, the most in the entire nation, Reserve Bank Of India (RBI) data, accessed by TOI, revealed. The data showed that Delhi grabbed the second spot with 179 cases, followed by Tamil Nadu with 147 instances of ATM fraud.

  2. In Maharashtra, individuals lost Rs 4.8 crore to bank misrepresentation. while in Delhi people lost Rs 2.9 crore. The country witnessed an increase in ATM fraud cases in general (up from 911 to 980). Assam, Arunachal Pradesh and Tripura were the only three states that didn’t report a single incident. However, the cash lost came down from Rs 65.3 crore in 2017-18 to Rs 21.4 crore in 2018-19. They said convicts were now employing different means to get control of people’s bank accounts through ATM or debit cards. The most regularly utilized trap is installing skimmer devices on ATMs and point-of-sale machines, which are then used to fraudulently copy data from cards. This data is then put on blank cards and illegal transactions are carried out. Chip-based cards utilize higher gauges of information encryption and capacity innovation contrasted with attractive stripe cards. Delicate client information is put away on a chip in these, making it hard for fraudsters to get to client data. The data in the chip is encoded as is the transmission of data subsequently. Read More

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