CLONE DEBIT CARD

The United States switched to more secure chip-and-PIN cards, which are governed by the EMV standard, from the unsecure magnetic stripe used in credit and debit cards.

That’s a significant step toward enhancing transaction security and lowering card fraud, and it might suggest that the type of card fraud that depended on cloning is about to come to an end.

But as of late, our analysts have learned that a group of Brazilian cybercriminals has perfected a method for stealing card information and effectively counterfeiting chip-and-PIN cards.

At the Security Analyst Summit 2018, our specialists presented their study, which we will attempt to briefly describe below.

WHAT IS CLONE DEBIT CARD

The majority of credit card cloning fraud is carried out via skimmers. Skimmers can be attached to hardware such as point of sale (POS) terminals or ATMs, allowing them to steal the information of anyone who uses that hardware by reading credit card information such as numbers, PINs, and CVV data through the magnetic stripe.

On POS terminals or ATMs, thieves can also make a fake keypad that gives them access to PIN data.

Once the data has been taken, the thief can use it to create an actual credit card that is tied to someone else’s funds.

The original cardholder might not even be aware that this has happened, but you can tell by looking through their bank accounts, financial statements, or credit score to see if anything has changed.

BUY CLONE DEBIT CARD

The data required to create a cloned card can be obtained in a number of ways. A criminal can simply peek over someone’s shoulder to discover their card’s PIN, or they can employ social engineering techniques to pressure them into disclosing it.

The PIN of everyone who inserts a card might likewise be copied by installing a phony keypad on an ATM or point-of-sale machine.