Fraud transaction on Credit Card on PayPal

rkkaranrk said:
What this has to do with the chip card or the normal card?
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A card with the simple magnetic tape is the easiest to clone and compromise.
That's why every bank today mandates a card with the security chip

Edit: Visa, MasterCard and the likes mandates to use such cards.

Magnetic Stripe cards can be read "by contact" by any magnetic stripe reader normally found on POS, ATMs and other readers integrated on specific devices. MagStripe Card is an "insecure" card compared to a chip card with secure and encryption protocols to access/read/update information stored on that card.

Chip Cards have an embedded chip in the plastic in 2 variants, Contact or Contactless (chip+antenna) chip cards.

Contact Chip Cards require to be "inserted" in a chip card reader and now it is a regular option today for issuer banks globally because most of the POS global population have been upgraded to have this reader.

Contactless Chip Cards can be read "from far away" as you mention, in fact it can be read "tapping" a POS terminal with a contactless chip card reader or can be read from a "max" distance depending on the kind of chip an ISO standard supported by that card. This is where mobile payments technology is finding its own space en the Payments Industry.
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What's the difference between a chip card and magnetic strip cards?
Why Chip Credit Cards Are More Secure than Magnetic Stripes

Years back, in my college days, for pocket money, I have worked at my Aunt's place which manufactures such cards.
Hence I am aware of this fact:)
 
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Arv90 said:
A card with the simple magnetic tape is the easiest to clone and compromise.
That's why every bank today mandates a card with the security chip

Edit: Visa, MasterCard and the likes mandates to use such cards.


What's the difference between a chip card and magnetic strip cards?
Why Chip Credit Cards Are More Secure than Magnetic Stripes

Years back, in my college days, for pocket money, I have worked at my Aunt's place which manufactures such cards.
Hence I am aware of this fact:)
Click to expand...
I really doubt a clone card can be used without verification on PayPal.
 
Arv90 said:
Was the card with the simple magnetic tape or one with the security chip?
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As far as i know security chips are mandated and cards which didn't have them got discontinued by the banks.
In 2015 my visa debit card stopped working because bank said that new magnetic chip ones are mandated and older ones won't work.
 
I guess scammer just used Paypal as payment gateway. Neither my card was cloned nor is my phone. He didn't use it to add funds to his account.

It was a chip card FYI.
 
TheGreatOne said:
As far as i know security chips are mandated and cards which didn't have them got discontinued by the banks.
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A colleague of mine went through this hassle with an HDFC card last week for a transaction of 10K.
After losing the 10K, the bank decided to replace her magnetic card with the security chip.

She filed an FIR and also blasted at the bank executive that they can extract her location details from Vodafone when the transaction happened
 
Arv90 said:
A colleague of mine went through this hassle with an HDFC card last week for a transaction of 10K.
After losing the 10K, the bank decided to replace her magnetic card with the security chip.

She filed an FIR and also blasted at the bank executive that they can extract her location details from Vodafone when the transaction happened
Click to expand...
I don't know if you are telling truth or not but all magnetic card stop working year back, it's not possible for your friends to have his magnetic card still working next week
 
My non-EMV chip card is still working. Bank sent me two replacement EMV chip cards, one after the other, but till i use them, the old one will keep working.
 
I have a magnetic IDBI debit card which still works in any ATM and at any POS. I asked IDBI to send a chip card but they simply said that I could continue to use this card until the validity period ends.
 
I also had a ICICI Debit Card without EVM chip. I contacted their customer care and they said continue using it till it's validity period, no issues. I brought the issue to social media, they promptly issued me a EVM debit card.
 
manucitc said:
I don't know if you are telling truth or not but all magnetic card stop working year back, it's not possible for your friends to have his magnetic card still working next week
Click to expand...
even my canara bank has no chip. working fine since 3 years. applied for chip one and it should be arriving soon. my hdfc came with chip enabled card so no worries.
 
Bank gives users the choice of replacing their old magnetic strip cards while some banks make it a mandate.

For new applications its obvious to get chip cum magnetic card.

Also, as per card types the priority differs. In icici case if you hold corel or ferrari privelege card you get call from cc that we are replacing your old card with chip ones for better security etc.
But same aint applicable to lifetime free or least privileged cards. Its upto the users to get it replaced or only if they might get a direct call or email from banks.
 
I think because it falls under cyber crime. Ask them for cyber crime unit address in your city. If in Mumbai its near Crawford Market.

Code: 
Cyber Crime Investigation Cell,EOW,
Third floor, New CP Office Building CP Office Premises,
D.N.Road, Near Crowford Market,
Mumbai - 400001.
 
Arv90 said:
A card with the simple magnetic tape is the easiest to clone and compromise.
That's why every bank today mandates a card with the security chip

Edit: Visa, MasterCard and the likes mandates to use such cards.


What's the difference between a chip card and magnetic strip cards?
Why Chip Credit Cards Are More Secure than Magnetic Stripes

Years back, in my college days, for pocket money, I have worked at my Aunt's place which manufactures such cards.
Hence I am aware of this fact:)
Click to expand...

For this case, both are pretty much the same, since the transaction is online. Cloning the card will not be needed, they just need the details.[DOUBLEPOST=1511011339][/DOUBLEPOST]
manucitc said:
I don't know if you are telling truth or not but all magnetic card stop working year back, it's not possible for your friends to have his magnetic card still working next week
Click to expand...

Not true. Still have a non chip card.
 
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