Fraud-wary banks tell customers to change ATM pins

High-tech ATM frauds have been rising of late.

FP Staff September 17, 2016 10:46:14 IST
Fraud-wary banks tell customers to change ATM pins

In the wake of several cases of ATM frauds where customers PIN has been hacked and the money siphoned off by fraudsters, some banks have issued text messages while some others have sent mails to change ATM pin or sent new ATM pins to their customers.

According to a report in the Times of India, some banks like HDFC Bank, Federal Bank and DBS have sent warning messages to their customers. Some text messages from banks like this one from HDFC reads: The PIN for your debit card has to be changed for security reasons. Please change the PIN at the earliest, the TOI reported.

Fraudwary banks tell customers to change ATM pins

Representative image. Reuters

High-tech ATM frauds have been rising of late. Recently PTI reported that a woman customer had complained of Rs 55,000 being siphoned off her account from abroad. The woman, an account holder with State Bank of Travancore's Pattom branch, said in her complaint to police that the money was withdrawn twice on September 3 and 5.

Police said the cash had been withdrawn from a foreign country from an ATM counter, but did not elaborate.

The heist comes less than a month after some persons lost their money in an ATM theft involving some foreigners, including Romanians.

On August 10, a Romanian national, who along with two other foreigners was suspected to be involved in the hi-tech ATM fraud in which a number of people lost money here, was arrested in Mumbai.

They had obtained details of bank customers and withdrawn money using fake ATM cards.

Police suspected the electronic device at the ATM counter had enabled the fraudsters collect the secret pin code and card details.

The National Payment Corporation of India has said that there is no data compromise at the national level, reported TOI.

Updated Date:

also read

Kotak Mahindra Bank Launches Interbank Mobile Payment Service
Biztech

Kotak Mahindra Bank Launches Interbank Mobile Payment Service

Service powered by National Payment Corporation of India.

BHIM app review: App for cashless payments launched by Prime Minister Narendra Modi
News & Analysis

BHIM app review: App for cashless payments launched by Prime Minister Narendra Modi

The application can be set up in a manner of seconds, and allows for safe, secure and simple cashless transactions.

Digital payments: Over 400 mn UPI transactions worth Rs 59,835 cr clocked in September; up 30% over August
Business

Digital payments: Over 400 mn UPI transactions worth Rs 59,835 cr clocked in September; up 30% over August

Monthly transactions through unified payments interface (UPI) increased by more than 30 percent month-on-month to 405.87 million in September, totalling over Rs 59,835 crore in value, according to the National Payments Corporation of India (NPCI) data.