Monday , May 23 2022

4 Arrested For Duping Bank With Cloned Credit Cards

Hyderabad: Four persons were arrested on Friday for duping J&K Bank’s Abids branch to the tune of Rs1.10 crore through Point of Sale (POS) machines. The accused – Kiran Kumar and Ram Kumar – were from the city while Abu Bakar and Haneef Hamza hailed from Kerala.J&K Bank Branch Head Mohammad Altaf Wani lodged a complaint on June 22 stating that fraudulent transactions had taken place from the four POS machines given to one M. Mahesh of Vanasthalipuram opened four current accounts with their bank and requested for EDC machines (POS machines) to do his business.J&K Bank Branch Head Mohammad Altaf Wani lodged a complaint on June 22 stating that fraudulent transactions had taken place from the four POS machines given to one M. Mahesh of VanasthalipuramLater, Mahesh was convicted in a crime and handed over the machines to one Kiran Kumar who in turn handed over the machines to Chand Pasha who conspired to do illegal transactions. Pasha agreed to pay a commission of 10 percent to Kiran. Kiran then informed his associates – Ram, Abu Bakar and Haneef, who assisted him in fraud and made cloned credit cards on Point of Sale (POS) machines and made illegal transactions.

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