Debit card fraud: Two arrested in Hyderabad for siphoning off money
Hyderabad: The Cyberabad Police on Friday arrested two youngsters who allegedly stole Wi-Fi enabled debit cards and siphoned off money. Police seized Rs 2.5 lakh and 320 debit cards from them. The arrested persons were T Srinivasula Reddy (26), a BTech graduate and P Konda Reddy (25), a hotel management student, both friends and residents […]
Hyderabad: The Cyberabad Police on Friday arrested two youngsters who allegedly stole Wi-Fi enabled debit cards and siphoned off money. Police seized Rs 2.5 lakh and 320 debit cards from them.
The arrested persons were T Srinivasula Reddy (26), a BTech graduate and P Konda Reddy (25), a hotel management student, both friends and residents of Maruthi Nagar in Shaikpet and natives of Prakasam in Andhra Pradesh.
According to the police, the two purchased two Paytm POS machines under the name of two fake grocery stores from Paytm and began stealing Wi-Fi enabled debit cards from ATM centres, some that were forgotten by customers and otherwise, from customers too.
“After stealing such debit cards from ATM centres in Kukatpally, KPHB, Madhapur, Gachibowli, Golkonda and Ameerpet, they scanned the stolen debit cards on the PayTm POS machines got money transferred to their own bank linked saving accounts,” Cyberabad Police Commissioner VC Sajjanar said.
As they were aware that the number of transactions per day was limited to only three times, both swiped amounts thrice from the stolen debit cards for fewer amounts without PIN numbers on each transaction as the lesser amounts were ignored by the card holders, Sajjanar said.
The duo siphoned off Rs 1.2 lakh fraudulently by swiping the debit cards of different banks. In addition, they stole 310 debits card and swiped an amount of Rs 7.1 lakh, with the total amount they had swiped so far being Rs 8.3 lakh.
Now you can get handpicked stories from Telangana Today on Telegram everyday. Click the link to subscribe.
Click to follow Telangana Today Facebook page and Twitter .
