Impossible to Fraud

In 2015, RBI ordered to all the public and private sectors banks for withdrawing all the electro magnetic credit and debit cards and replacing with evm chip based card. Inside this card, a micro processor has been placed for holding all the informations related to the money transaction for a short while. A pin code is received when a customer make any transaction in a ATM. 

Recently, frauds are increasing day by day. Skimming, fishing related frauds are the most vulnerable cheats amongst frauders. Frauders place a skimming system inside the swipe port in the ATM, when someone comes there for withdrawing money, all the informations could be easily copied through this skimming system. This money, frauders then can withdraw in other place or use the information for online shopping easily. But this is impossible for the frauders to avail the informations from evm chip cards. 

In 2015 , RBI had ordered to replace all the electro magnetic cards with evm cards. Now those cards, that might be debit or credit, are evm chip based card not electro magnetic. If you have cards that issued before 2015, you need to replace this with new one. Even though Banks have disabled all those old cards. All other countries also have adopted this technology including many poor countries. 

Thank you.....

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