Overview of Credit Card Cloning
Credit card cloning is illegal. Thieves copy credit cards using special equipment and social engineering to obtain card information fraudulently. They clone cards to withdraw money from victims’ accounts. Cloned cards cannot be distinguished from originals by ATMs and point of sale devices as the magnetic stripe information is identical. Penalties for cloning include fines, jail time, and restitution.
How Does Card Cloning Happen?
Card cloning occurs when credit card data is stolen. The information is copied onto a blank card that can then be used to make purchases, get cash advances, or buy money orders. It is almost impossible to clone EMV chip cards that change encrypted data each time they are read. Other cards like gift or cashback cards can still be duplicated and used more easily. However, cloning is complicated, expensive, and risky.
Methods and Prevention of Card Cloning
Criminals obtain victim’s card information by installing skimmers on ATMs and point-of-sale terminals, using hidden cameras, or hacking databases. Preventive measures include using EMV chip cards, monitoring account statements regularly, and inspecting terminals before using cards. Security improvements like chip cards help disrupt cloning. Successful thieves sell cloned information or download it onto other cards for unauthorized purchases.