What Are EMV Cards?Д¬ards that use the EMV chip technology are called EMV Cards. These numbers also included incidences of phishing, using fake apps/websites, information theft over phone/email,В etc.ДЄs theВ numberВ of incidents increased, the financial sector moved on to EMV cards. The only way a credit/debit card holder would know of these transactions is ifВ theyВ wereВ aware and kept a close watch over the SMS/email alerts on the transactions.ДЄs per RBIВ data,В there were around 23,000 incidents of credit card frauds during the period Apr-Dec 2017.

Cloning is a process where theВ originalВ informationВ of the holderВ is embedded on a different card and used by the imposter. The data stolen could easily be used elsewhere.В The information so derived could also be used for cloning these cards. This was possible as the customer data was stored in a static form on the magnetic stripe. This device could pull in sensitive information on the card,В which could then be fraudulently used for transactions using the credit/debit card details. These are done byВ using aВ small device called the Skimmer.В The data skimming devices could be attached to the Electronic Data CaptureВ (EDC) machines or could even be carried in the hands of waiters or store employees. Skimming is the process by which information on the credit card is stolen during an otherwise legitimate transaction like swiping at theВ fuel stations, restaurants, etc.

The magnetic stripe cardsВ were very vulnerable to fraud and skimming.

Emv chip writer skimmer