how a credit card is cloned? how it can it be mis used who don't know the PIN number? how to prevent this?

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how a credit card is cloned? how it can it be mis used who don't know the PIN number? how to prevent this?

2006-11-14 03:19:27 · 2 answers · asked by Prosad 1 in Business & Finance ➔ Credit

2 answers

The magnetic strip contains account information, PIN etc in an encrypted form. This information can be duplicated when the card is swiped and then transferred to another card with a blank magnetic strip. There are gadgets that can decrypt the PIN on the card.

2006-11-14 03:54:08 · answer #1 · answered by Halo 5 · 1⤊ 0⤋

PIN is only for ATM operations. Unscrupulous elements pose themselves as cardholders and purchase materials and pay through the stolen credit card. Ensure that you keep your credit card safely.

2006-11-14 03:26:30 · answer #2 · answered by cvrk3 4 · 1⤊ 0⤋