"When pre-paid RAKBank and the BankMuscatcredit card accounts were duped of $45 million (Dh165.5 million) in December and February by a gang of criminals using forged electronic cards, how it happened seemed pretty clear.
Criminals had hacked into two Indian credit card processing companies — Bengaluru-based ElectraCard Services, which is partially owned by MasterCard, and Pune-based Enstage.
The hackers increased the limits on the pre-paid cards and erased withdrawal limits. Using a $300 card copying machine available on the internet for $300, they simply used everything from hotel key cards to airline loyalty cards to encrypt the inflated financial details on the magnetic strips."
'via Blog this'
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