Fraudsters have been using innovative methods to defraud the common and gullible people of their hard-earned money," said the RBI. “As the speed and ease of doing financial transactions has improved, the number of frauds reported in retail financial transactions have also gone up. The Reserve Bank of India (RBI) also recently released a booklet on the common modus operandi used by fraudsters, and the general precautions and digital hygiene measures to be taken by the public. Some banks also offer temporary virtual cards you can use if you don’t feel safe while shopping online," said Briedis. “Another recommendation is to have a separate bank account for different purposes and only keep small amounts of money in the one your payment cards are connected to. In view of this, he said that card users need to review their monthly statements for suspicious activity and respond quickly to every security notification from your bank. All you need is to find out how much money is currently in the ATM machine and then withdraw all that money at once. Using a computer, an attack like this can take only six seconds," says Marijus Briedis, CTO at NordVPN. The process of hacking an ATM machine is very simple. That leaves hackers with 7-9 numbers to guess because the 16th digit is a checksum and is used only to determine whether any mistakes were made when entering the number. The first 6-8 numbers are the card issuer’s ID number. That means that criminals basically try to guess the card number and CVV. "The only way such a huge number of payment cards could appear on the dark web is through brute forcing.
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