Be careful debit/credit cardholders! Plunders are prowling in the city to skim your bank details from the cards during transactions. Federal Investigation Agency (FIA) has recently busted one of the active gangs involved in stealing money amounting to Rs 4.3 million from cardholders of a single private bank through a skimming fraud.
The modus operandi adopted by this gang was that they maintained accounts in different banks and got debit/credit cards from these banks. Later, the gang reported their debit/credit cards as lost to the relevant banks and obtained new cards, which they did not get activated.
This gang used to copy cardholders' information from their debit/credit cards through a device called 'Skimmer', which they placed at different gas filing stations located at posh areas of the city. The workers of these gas filing stations used the Skimmer to copy cardholders' information at the time of transactions and later, the device was delivered to the gang against undue gains.
Subsequently, the gang rubbed off the card number from their newly issued cards and transferred all cardholders' information retrieved from the Skimmer on it for making heavy transactions. This gang has successfully used this fraudulent modus operandi at various merchants/outfits/showrooms.
The extensive cards database analysis shows that the total amount of cases was Rs 0.374 during 2013-14 in which the Point of Compromise (POC) identified were mostly fuel stations; while the total amount in which these POCs were identified was Rs 4.3 million approximately to only a single private bank from 2011 till 2014. The loss amount can be exceeded manifold, if FIA stretches its investigation to other commercial banks.
When contacted, FIA official sources said that agency had initiated investigation on a complaint of one of the leading private bank, which was provided a loss of Rs 4.3 million approximately by this gang during 2011 to 2014 period. The FIA team on a tip-off raided at PECHS area, Karachi and nabbed a man namely Faisal Abdul Rasheed son of Abdul Rasheed with some 19 debit/credit cards. These cards were issued on Faisal's name but the data appeared in these cards belonged to 19 other cardholders.
During initial course of investigation Faisal revealed that he got issued 11 debit/credit cards on his name from one of the private banks for the purpose of using the same for copying card data of other cardholders on a magnetic stripe. He said that he utilised these cards for purchasing merchandises from different outlets/stores/showrooms and later sold these goods in the market for cash.
He further disclosed that in this skimming fraud, his accomplice was Muhammad Sharif, who was later arrested by FIA on Faisal's information. FIA team has recovered four debit/credit cards and invoices of different expensive goods from Sharif's possession.
FIA official sources said that accused persons along with their other accomplices constituted the offence of preparing counterfeit debit/credit cards for the purpose of cheating at different merchants/outlets. Keeping these facts in view, the FIA has lodged an FIR against them and initiated investigation to nab other associates and gangs involved in this fraud.
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