Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Greek hackers steal from Indian cops' bank accounts  Join our daily free Newsletter

MENAFN - Khaleej Times - 15/06/2013

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Khaleej Times) While Mumbai police has been battling cybercrimes for years, the latest incident of hacking has come as a shock for the force, as the salary accounts of 14 police officials were hacked by criminals in Greece, who had cloned their ATM cards.

Hackers with cloned ATM cards of the 14 officials withdrew euros the equivalent of hundreds of thousands of rupees from ATMs in Greece. Mumbai police has now formed a special team to crack the latest hacking that has affected its own officials.

According to police sources, the salary accounts of 14 officials in Axis Bank, an Indian lender, were hacked as the criminal withdrew the money from ATMs in Greece. Security experts and even police officers from the cyber squad frequently caution people to be careful with their credit and debit cards, as criminals manage to scan the data and clone them on to blank cards, which they later use to withdraw funds.

Hackers usually copy the magnetic code on the cards, which are then transferred to blank cards and used to withdraw cash.

Last month, seven persons were arrested in the US for being involved in a global ATM racket.

The gang managed to siphon off 45 million in a matter of hours from ATMs in 27 countries around the globe. However, these hackers had managed to siphon data from bank databases and individual accounts were not hacked into. Many banks in India have started issuing cards with built-in chips and doing away with magnetic strips, which can be easily copied. But most merchants in the country still do not have readers for the chips and have to scan the magnetic codes.

According to the National Crime Records Bureau, cyber crimes increased by a whopping nearly 60 per cent last year in India. Maharashtra topped the list with more than 560 cyber crimes reported in 2012 (as against less than 400 in 2011). Security experts here often advise consumers to keep an eye on their cards when they make payments, especially at restaurants and retail outlets. Some criminals, who take up jobs at these outlets as waiters or shop assistants, are known to wear scanners hidden inside their belts and quickly swipe the card when no one is watching to copy the data from the magnetic strip.

 






  MENA News Headlines


 
Click to Apply






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help