KARACHI: Speaking in a seminar held at the Institute of Bankers Pakistan, State Bank of Pakistan officials said that clues gathered during an ongoing investigation into an Automated Teller Machine (ATM) skimming scam have led to the revelation of the bank staff’s involvement in the fraud. The question remains that how foreign transactions were allowed by the banks on compromised cards, asked Jawad. Officials from the State Bank also informed that a free SMS service would soon be introduced for all ATM transactions, with the help of which customers will be alerted in cases of unauthorised access. Falling prey to an ATM skimming fraud earlier, hundreds of citizens in Pakistan had lost millions of rupees in December 2017. While ATM skimming can be regarded as an identity theft for debit cards, scammers use different techniques to record the victim’s PIN code.

Source: Pakistan Today January 04, 2018 12:00 UTC