ATM, debit, credit card was in your pocket, then how money fished out from your bank? This is how it happened

These days, pseudo phone bankers asking bank account holders to download an app for technological upgradation of the account and e-banking systems and looting money after cloning account holders ATM and credit card. This has become a common phenomenon. The plastic money fraudsters ask you to download an app, which they have created in such a way that allows them to take your android or smartphone on their remote and hack the cyber data. After doing this, they clone your plastic money cards and fish out money from your account at such a fast rate that you feel helpless about the safety of your hard earned money.

How it actually happens?

Speaking on the type of fraud taking place Pavan Duggal, a Delhi-based cyber law expert told Zee Business online, "When an account holder downloads the app they are asking on your phone, your phone screen goes in their control as the app allows them take it on their remote. So, whenever an account holder does any plastic money or e-banking transaction, they are able to fish out the account related information of the account holder." After watching it for few days, the fraudsters gather enough data to fish out money from the account holder's account. They also fish out money from their debit and credit card.

See Zee Business video below:

अंडमान समेत छोटे शहरों के लिए अब उड़ान भरना हुआ आसान, 8 फरवरी को UDAN-3 की विस्तार योजना संभव: सूत्र#UDAN pic.twitter.com/lwU87VeAWd

— Zee Business (@ZeeBusiness) February 5, 2019

What to do to avoid becoming victim of such frauds?

Asked about the precautions that an account holder can take to avoid to become victim of such frauds, Duggal said, "Awareness is the best possible answer to such frauds. A phone banker never asks for downloading any app or giving details of your ATM or credit card. They are also not authorised to ask for account holders debit card or credit card number, forget about the CVV number." Aadhar number, PAN card number, account number, customer ID, debit or credit card number and its CVV are strictly confidential matters and if anybody asks for this, one should know that he or she is into the trap of some economic offender.