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1-min read

How a five-minute call can turn you into a pauper

The fraudsters ask the victim to add the first four digits of the number appearing on the back of the card to the four-digit ATM pin and give the final number.

Arunoday Mukharji | CNN-IBNArunodayM

Updated:March 21, 2016, 11:34 PM IST
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How a five-minute call can turn you into a pauper
The fraudsters ask the victim to add the first four digits of the number appearing on the back of the card to the four-digit ATM pin and give the final number.

New Delhi: One phone call and a five-minute conversation is all it may take to lose your entire bank balance.

An investigation by CNN-IBN has blown the lid off a massive scam being run by youngsters in Jharkhand using smartphones and some smart talk to steal one's ATM card details.

The process is simple. The youngsters pretend to call from the bank's ATM security head office and pretend as if they need to further secure the potential victim's credit/debit card.

The unsuspecting person is fooled into sharing all credit/debit card details. While he is still on the call, his accomplice uses the details to carry out a fraudulent transaction to a mobile payments platform account. Simultaneously, the third one transfers the money out of the mobile payments platform account.

This is how they get details like the ATM pin without arousing suspicion. The fraudsters ask the victim to add the first four digits of the number appearing on the back of the card to the four-digit ATM pin and give the final number.

The last four digits on the back of the card are the same as the last four digits in the front which many may not pay attention to. From then, it is simple math. All he has to do is subract the number formed by the last four digits of the card from the number quoted, and he will get the pin.

For example - if the last four digits are 2222, and PIN is 3333, the number quoted would be 5555. To get the PIN all he would have to do is deduct 2222 from the number quoted.

And the time this is happening the trickster tells the victim he should never quote his ATM number if anyone, even if it is a bank employee, asks for it.

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