A Debit Card Fraud is Common - Awareness is Must

A debit card fraud is very common and there is continuous disturbance made by the fraudsters in different parts of the world. Debit card fraud has increased and several attempts are made, yet the net outcome is zero. With the advent of the internet banking, the hackers can hack the amount from your account and leave you bankrupt, however, rich you may be.

The fraudsters are moving to the internet to hack your account as the introduction of chip and pin has reduced the card fraud in retail stores. The fraudsters have trained themselves in such a way that they need less effort to steal money from the individuals, companies or the government.

Debit Card fraud is a type of fraud that is related to cards and pin numbers. Counterfeit card fraud is very common and it mostly happens overseas. A fake card is made using compromised card details. This card is finally used to make withdrawals from the ATM or make shop purchases.

The fraudsters are very clever and they know the art of shoulder surfing. They observe you entering the PIN at the ATM counter and steal your card by using distraction techniques or pick pocketing. The term skimming means when a fraudster attaches a device to an ATM to record the electronic details from the magnetic details of your debit card. A small camera is used to overlook the PIN pad to capture the entering PIN.

Many people do not know all these facts and they do not have sufficient knowledge about debit card fraud. Awareness is must so that people can take some precautionary measures while dealing with the financial institutions like Kobian financial, City Group, etc. The best way is to go through the latest updates on the web that guides you with the ways to save yourself from debit card related frauds.