Indian banks have seen incidents of ATM-skimming rise substantially over the past month, even as they have scrambled to warn their cardholders and increase their safety measures.

Most of the incidents are occurring in Bangalore, a local law enforcement official tells PaymentsSource, noting various police agencies have reported at least 150 such cases. The amount of money the crooks have stolen through the scheme was not available.

“We are aware of the number of skimming cases rising over the past one month or so, and we are investigating these on a broader level,” he says, requesting anonymity.

Most of thee cases involved bank accountholders having funds illegally withdrawn from their accounts through select ATMs in Bangalore. They become aware of the withdrawals via the text alerts their bank sends them at the time of the transactions, the official adds.

Banks that have been most affected by this skimming spree include Citibank India Ltd., HDFC Bank Ltd., State Bank of India Ltd. and ICICI Bank Ltd., he says, adding that the banks have been made aware of the police investigations.

A spokesperson from State Bank confirmed the ATM-skimming issue to PaymentsSource without revealing further information. Citibank says it is reaching out to affected cardholders and replacing their debit cards.

What do you think about this? Send us your feedback. Click Here.


Subscribe Now

Authoritative analysis and perspective for every segment of the payments industry

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry