Scaring information about credit cards
@Professor2010 (20162)
India
February 6, 2013 12:19am CST
Source-HYDERABAD TIMES, WEDNESDAY 6 FEBRUARY 2013.
In last week of January I made purchases from malls here using my credit cards, today I am little bit worried after reading this information in the leading newspaper here.
It says the credit card industry in India has been hit by a series of frauds over past couple of months, all top credit card issuers-ICICI BANK, HDFC BANK, CITIBANK, SBI and AXIS BANK have been affected by this fraud.
[b]
How the data is stolen?
Card skimming is one of the methods used by frauds worldwide; a pocket sized scanner is attached to the to the card reader. When a costumer swipes a ‘credit-card’ or ‘debit-card’, this device secretly records and stores the information in the card.
The crooks later make on line transactions they even clone cards.[/b]
The card issuing banks have seen unauthorized transactions totaling around 30 crore (a crore is 10 million) rupees.
[b]In India a user needs the name of the card holder, expiry date of card, the three digit CVV number on back of card and the ‘PASS-WORD’. But internationally the transactions are done on basis of credit card information only; which they steal.
[/b]
[b]My credit cards are valid around the world, I am scared now, have asked my banks to cancel them with immediate effect and issue new ones.
Hope this information is useful.[/b]
Do you use credit card/debit card for purchases?
Did you ever face any problem?
I faced minor problems twice while drawing money from ATM near my home, the money failed to come out though I got SMS about the transaction; I got back the money in few days.
Please share your experience if any and also comment on this.
Thanks in advance. Professor Dr. B.Saraf. PhD.
Cheers have a lucky day ahead.
6 people like this
12 responses
@louievill (28851)
• Philippines
9 Feb 13
That's the reason I seldom use my credit card and pay cash whenever i can, only in reputable business establishments and online purchases through paypal.
2 people like this
@Hatley (163776)
• Garden Grove, California
7 Feb 13
hi p rofessor that is really scary and am glad you made this
discusion to warn all of us.I have never had any problem with my debit card but am careful where I shop on line that they have a key showing that they are a secure site and will have no scams or 
fraud at all.
fraud at all.2 people like this
@Professor2010 (20162)
• India
9 Feb 13
Mommy
Hope you are fine, be sure if some one cheats you he/she can never digest that money.
Hope you are fine, be sure if some one cheats you he/she can never digest that money.1 person likes this
@sweety_81 (2124)
• India
8 Feb 13
Well, so far I am not using cards. But some of my friends and relatives are using.
They do say that using the cards needs a lot of care, and risks do exist.
1 person likes this
@sweety_81 (2124)
• India
11 Feb 13
yes, caution is always needed in money matters, and especially with cards.
@Professor2010 (20162)
• India
9 Feb 13
Good that you don't use now but might use one soon, need to be careful.
1 person likes this
@maygodblessu44 (7336)
• India
7 Feb 13
[b] Hello my friend Professor2010 Ji,
I never use any credit/debit cards as tyhis tends to increase purchasing desire without any need, also, if I am with someone, who is is not having vailied card, I may be asked to honor him by using my card. I am little old and having old concept of expenditure. Any new things introduced, no one thinks about its draw backs. All products Science invented for man-kind may be kelpful under extreme emergency conditions, but never under normal condition. Cell phone for example is very much useful and essential during emergencyu biut not to SMS for unwanted things on TV,speciallyu with reality shows.
May God bless You and have a great time
1 person likes this
@Professor2010 (20162)
• India
9 Feb 13
Bhabhiji
Next time you go out with Ganesh Bhaiya, tell him to buy a sari for you using his card, he is military man, must be forward.
Next time you go out with Ganesh Bhaiya, tell him to buy a sari for you using his card, he is military man, must be forward.
@vandana7 (100617)
• India
6 Feb 13
I dont have a credit card. I dont use ATM / debit cards. I dont purchase online. Three risky things I avoid because I cant be raising my blood pressure on these self created issues. It does not cost me much to walk up to the bank and withdraw the required sums. We've been doing it traditionally, so what's the big deal. Until I am convinced of the safety of such plastics, I am not going to step in.
1 person likes this
@Professor2010 (20162)
• India
10 Feb 13
I definitely know about cheque, but no knowledge about CTS2010 and BASIL, Please tell me.
@Professor2010 (20162)
• India
9 Feb 13
Vandy
I honor your views, but suppose you are in other state far, you need money for some purpose, will you not use your ATM to draw money.
I honor your views, but suppose you are in other state far, you need money for some purpose, will you not use your ATM to draw money.
@maurya83 (923)
• India
7 Feb 13
Thanks a lot for sharing this information professor.I dont use credit card but I have to tell all this to my husband as he uses credit card very often.. he must know about it because we have so many plannings for near future and we are not in condition to afford any kind of financial jolt.. thankyou again.
1 person likes this
@cotruelove (1016)
• Denver, Colorado
6 Feb 13
Hello brother,
Last year my hubby who does a lot of online shopping had an unauthorized charge on his credit card for around $400. He had to file a police report and notarized forms in order to get the money returned. It took about 3 weeks, which for us was not good since we live on a fixed income. How did they get the information? No one seems to know, but they suspect it was an inside informer from the bank who gave it to someone outside the bank to do the transaction.
One of the other warnings here is about scanners that can be carried by a person walking past you and take the card information from you. To avoid this from happening we have purchased aluminum cases to keep the cards safe and prohibit this from happening. In other words, just carrying your cards in your wallet in a purse or in a man's pocket, can cost you. Hubby uses metallic sleeves for his cards in his wallet, and I use an aluminum case for all of mine.
It is a shame that identity theft is as prevalent world wide as it is, but it is getting more commonplace everyday. Many of the card issuing companies here are talking about using a thumb print in combination with the card for any in store purchases. I know here in Colorado, they even take your thumb print for driver's licenses to try and curb theft of them. Of course, online there will have to be better security measures taken than what we have seen so far to curb the problem.
Thanks for the discussion. 
@Professor2010 (20162)
• India
9 Feb 13
Sister
I have heard too that they are going to keep finger prints information in coded form.If one puts the PIN in presence of another person , he/she might be in trouble.
Thanks for sharing
@salonga (27775)
• Philippines
7 Feb 13
Indeed those info are scary. We must be careful.
I don't have a credit card though but I have a debit card. This is my Bank ATM Card which can also be used in my purchases so whatever amount I have in my bank it is debited with every purchase I make. I carry this every time I go shopping to avoid bringing too much cash in my purse. So far this has been safe and got no problem with it. 
I don't have a credit card though but I have a debit card. This is my Bank ATM Card which can also be used in my purchases so whatever amount I have in my bank it is debited with every purchase I make. I carry this every time I go shopping to avoid bringing too much cash in my purse. So far this has been safe and got no problem with it. 1 person likes this
@cupkitties (7421)
• United States
6 Feb 13
There is a pretty easy way to avoid this Like if you're pumping gas, look very closely at the other gas tanks around you to see if yours looks the same.
The fake skimmer is meant to fit there temporarily to be easy for the thief to remove.
They also have used fake keyboards on top of the real keyboards to get your pin and small cameras. When in doubt always ask. Some places will provide a picture of how the actual devices should look.
1 person likes this
@Professor2010 (20162)
• India
9 Feb 13
You are right, some put used film strips in side the hole, some will be standing near you while you are using ATM, they will act as if trying to help you, and thus cheat you in different ways.
@vandana7 (100617)
• India
6 Feb 13
I dont have a credit card. I dont use ATM / debit cards. I dont purchase online. Three risky things I avoid because I cant be raising my blood pressure on these self created issues. It does not cost me much to walk up to the bank and withdraw the required sums. We've been doing it traditionally, so what's the big deal. Until I am convinced of the safety of such plastics, I am not going to step in.
@topffer (42156)
• France
6 Feb 13
A few years ago I forgot a credit card on an ATM machine in a railway station and realized it several hours later. The card was gone and never reappeared, but nothing happened... If I had forgotten my purse or a checkbook, I bet I would have had more troubles. Banks here are aware of problems with online transactions, and they tend to block transactions done with some countries -- Ukraine, Romania... -- until you accept them -- they send a SMS --. They have insurances and they return the money when it happens, it is why I think credit cards are still very safe. But to buy online I always use PayPal : they freeze the account is a transaction is made from another country than yours, so it is the safest way to buy something online.
1 person likes this
