How the Inventions like ATM's are misused in Chennai
It was once stated by one of the most famous villain in Tamil cinema, M R Radha in a comedy that states that from the smoke of the warm water the foreigners found train engines where as our people found the kola puttu (A famous dish in kerala). Even now the same thing is happening here the foreigners are finding something for the welfare of the human being and our people are finding methods to overcome the situation by finding a short cut method to outrun those things found by the people of other states. There are even more examples for that like light, fan, cycle, motor vehicles, mixie, grinder everything is found by the foreigners and the same thing are used for bad incidents in our state like suicides, killing, kidnapping etc., and our state and country proves to be the barrier for the invention of new products and their market value.
Now in the list of misused inventions are the ATM's and the debit cards. Previously many days before the thieves used to adopt techniques such as showing a thief and stealing money from the passers in the roads and also in trains. But now it has become much simpler to them, they are just using some duplicate card to withdraw the money from your account. It recently happened in Chennai that more often there was a decrease in cash in the account of the people and the banks were unable to find these things in the long run also. And now it has been found that without the knowledge of the customer the thief can steal the money from ones account and the details are also found and are often misused for other activities too. Now the thieves are not uneducated as that of the past but are highly talented and can handle the computers to find ones data by the loopholes in the internet.
Importance of ATM Machines
The ATM's came into existence only after the 2000's and from then the use of ATM's have increased greater in numbers. You can find the ATM's now in almost all the streets in the city and this shows how much the banking system has developed over the period of time. Previously in the past periods people had to wait for longer times in the bank and they have to spend at least a day for making a transaction and for this most of the people would take a leave solely for the purpose of banking transactions. Though at the initial phase of the introduction of the ATM's there were no threats found and this system was said to be one of the safest method in banking industry. Then after some time there were one or two reports stating that there funds have been minimized in the account and when the bank tried to find them it could not find anything.
ATM card Crimes in Chennai
Then it came to the limelight that the ATM's are also having some loop holes in them and there is a possibility to make money out of the ATM's by the criminals. I should say that now the system of fraud using ATM as the medium has gradually increasing and over a period of one month Chennai police recovered 2000 and more duplicate credit and debit cards which were used to launder money from the ATM's. As the number of ATM increased day by day the criminal activities also increased to a larger level. As there was more money deposited by the people in the banks, the criminals found a way to crack this and at the end a machine was found to steal money from the customers.
Soon there was more number of frauds taking place in the city and many people started complaining about this act to the banks and the banks could not do anything other than to make a complaint to the police. The police tried for many days and at last found some suspects and when they were investigated a total of two thousand cards with the details were found and the police also found how the details were received when the banks are promising safety. Soon it was also found that the details were sold in the internet by an unknown person and they had bought the details for more than 9 crores and also withdrew some lakhs of rupees from other bank accounts. Most of the events took place just before and just after the deepavali where lakhs and lakhs of money was laundered and the police were successful in catching some victims but could not find the whole crew responsible for the huge loss.
Skimmer - The tool used to collect the ATM card details
It has recently been found that the criminals are using some devices that can help the person to get the information about the customers details, this device known as the Skimmer is said to help the criminals to a large extend. You know what the price of the skimmer is, it is only 300 rupees. The device of 300 is used to extract the money from the bank accounts of other persons and the scam involves crores and crores of money. It is suggested that while withdrawing money from the ATM one should be very careful and he should not take any help from the unknown person as the other person may be a hacker and if he just strikes your card into the skimmer machine if he has all the details of you is immediately obtained in this hand. The detail of your card lies in the black strap at the back of the card and if anyone manages to get them then it is certainly a problem for the customer.
How it ATM theft works
There is also a statement made that the information of the bank account is passed on only from the bank employees and the people who are directly related to the bank. And the banker does this when someone offers him a particular sum of money. By using the details produced by the employee, the person manages to make the strip and make a duplicate card to withdraw the money from someone's account.
Victims of the crime
Earlier it was reported by banks like Canara bank, HDFC bank, ICICI bank that some money has been stolen from the customer's account but as of now all the banks including State bank of India and Bank of India have reported about the money laundering that is being done in the banks.
The police are trying their level best to find the criminals but the criminals are more talented to escape from the nets of the police and so the crime has been evolving as a major change in Chennai.
The best part of credit card is that we don't need to carry money in our pockets wherever we go. Instead we just carry a single credit card. But nowadays there are lot and lot more crimes are happening day-to-day by the misuse of the atm cards. The banks should find their strategies and create additional security measures.