Quotes: 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.

 


Khaleej Times




  MENA News Headlines
 Jan 28 2015 - Gulf states to rethink monetary policyMENAFN
(MENAFN) Gulf Arab oil states may need to rethink longstanding economic policies, including their fixed exchange rates, over the next five to 10 years as economic cycles in the region and the US ...

 Jan 28 2015 - DIB picks arrangers for potential Tier 1 sukukKhaleej Times
(MENAFN - Khaleej Times) Dubai - Dubai Islamic Bank, or DIB, said on Tuesday that it picked eight banks to arrange roadshows from January 8 for a potential benchmark size dollar-denominated sukuk ...

 Jan 28 2015 - What next for Londonium and Barclays?Khaleej Times
(MENAFN - Khaleej Times) I have tried to visit Britain on the eve of every general election since the end of the Thatcher era (by Tory regicide, not the ballot box) in November 1990 in search of ...

 Jan 28 2015 - Emirates NBD - holding the banking fortKhaleej Times
(MENAFN - Khaleej Times) The banking industry looks set to sustain positive trends this year due to strong macroeconomic economic indicators, sufficient liquidity and low interest rates in the ...

 Jan 28 2015 - China pumps cash into banks in a bid to accelerate growthKhaleej Times
(MENAFN - Khaleej Times) Beijing - China's central bank has bolstered support for the cooling Chinese economy by injecting another 50 billion yuan ($8.1 billion) worth of short-term loans into banks ...

 Jan 28 2015 - Union National Bank posts 16% jump in annual earningsKhaleej Times
(MENAFN - Khaleej Times) People walking past a Union National Bank branch in Dubai. The total assets of the UNB Group increased by seven per cent in 2014 to Dh93.5 billion as at December 31, 2014. - ...

 Jan 28 2015 - Gulf Arab countries may need to rethink policy: Qatari bankerKhaleej Times
(MENAFN - Khaleej Times) Dubai - Gulf Arab oil states may need to rethink longstanding economic policies, including their fixed exchange rates, over the next five to 10 years as economic cycles in ...

 Jan 28 2015 - GCC retail sector on growth pathKhaleej Times
(MENAFN - Khaleej Times) Dubai - GCC retail sales are expected to grow at a 7.3 per cent compound annual growth rate (CAGR) between 2013 and 2018 to reach $284.5 billion, according to Alpen ...

 Jan 28 2015 - Dubai International airport crowned as world's busiestKhaleej Times
(MENAFN - Khaleej Times) The airport's passenger numbers boosted by 6.1 per cent to 70.5 million in 2014 and pushed the Heathrow down to the second position as London's top airport handled 68.1 ...

 Jan 28 2015 - Sharjah's Dh17.7b budget to ensure economic upliftKhaleej Times
(MENAFN - Khaleej Times) Sharjah - His Highness Dr Shaikh Sultan bin Mohammed Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, on Tuesday approved the 2015 general budget of the emirate ...

more...


 






Google

Electronic & Mobile Payment

 
 

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

Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

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
Economic Calendar
Financial Glossary


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


 
© 2014 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help