New trick discovered to steal money from ATMs in India

By making a withdrawal transaction but not receiving all the money the machine gave out to make the transaction unsuccessful, a group of Indian crooks managed to swindle nearly 4 billion VND from ATMs before being arrested.

Indian police have just arrested a group of five men who specialized in committing fraud when withdrawing money from ATMs to steal money from banks. Specifically, according to information from the investigation agency,BBCposted, these people use the card to withdraw large amounts of money. When the machine dispenses money, they only withdraw a portion of the money dispensed and leave a small amount on the tray.

The scammers have been arrested.

The ATM will then mistakenly think that the money has not been withdrawn and return the remaining amount to the machine and report an error to the server: the transaction was unsuccessful. These scammers will then go to the bank to request a refund to the account to have the same balance as before the transaction.

In this way, the above mentioned criminals stole about 10 million rupees (equivalent to about 3.7 billion VND). In one specific case, they were discovered withdrawing 10,000 rupees from an ATM but only took 9,900 rupees from the amount the machine dispensed, leaving behind a last 100 rupee note.

They then went to the bank with the unsuccessful transaction notice as evidence, demanding the bank return the 10,000 rupees. Fearing that customers might make a big deal out of it or that complaints would affect their customer satisfaction scores, many bank tellers immediately paid the fraudsters in cash.

To avoid detection, these criminals committed crimes in many different states as well as used cards of one bank to withdraw from ATMs of other banks. It was only when one of the banks was damaged, Federal Bank ofIndiaThe case was uncovered after the bank discovered large losses while reconciling transactions with other banks and asked the police to investigate. According to local media, in addition to the above gang, there are still 2 other suspects being monitored.

Similar phenomena have been reported in the UK and are often referred to as a “secret technique” by young people, said Graham Mott, a spokesman for UK ATM network Link. “It is a form of criminal activity. We have identified many cardholders who repeatedly request refunds of this type.”

According to Dantri-M