Beware! Bank account information is selling on the internet for Rs 500

The information came in fore after MP cyber cell nabbed two members of international gang involved in duping Indian bank customers by using their credit/debit card information to make transactions

The Madhya Pradesh cyber cell has  reportedly busted an international gang that made large-scale online purchases and enjoyed foreign trips by using hacked information of credit cards. 

Debit and credit card details, including the particulars of the bank account a card is linked to, the CVV number, phone numbers, and email IDs are said to have been compromised

According to a Times of India report, the police unearthed that detailed confidential information about bank customers is available for sale on the dark web for as low as Rs 500. And, the gang used Bitcoins -- a decentralised cryptocurrency -- to purchase the credit/debit card information online. The gang also used to select the online e-commerce website, where they do not need a one-time password (OTP) to make a purchase. So, the holders would get the information about the misuse of credit cards only after the payment.

The Madhya Pradesh cyber cell have arrested two suspects from Mumbai who allegedly work in a gang led by a Pakistani national  Shaikh Afzal ka Shozi operating from Lahore. The gang purchased card information using dark web and used them for their trips to Bangkok, Malaysia, Hong Kong and Dubai. Simultaneously, they also made online purchases of expensive items from foreign companies.

 "We have learnt that Shozi is a native of Lahore and got married only last year. Shozi visits different countries across the world. He was in Uzbekistan when Nadar and Pillai talked to him last time through Skype. We are trying to confirm these details," Superintendent of Police (SP) of State Cyber Cells Indore unit, Jitendra Singh told reporters. Singh said the accused also used to send half the amount, they spent by misusing the credit card details, to Shozi by secret online methods.

Singh said an initial investigation revealed that both the accused have made purchases of about Rs 20 lakh by misusing the details of 17 credit cards so far. However, this figure may go up after further investigation.

In many other cases, the police got the information from Jaykishan Gupta, a banking professional, and resident of Agar Malwa district. Gupta had lodged a complaint with the Ujjain wing of the cyber cell claiming his credit card account was debited for Rs 72,401 on August 8 without him making any transactions.

The report states that the investigation in the case revealed that the card was used to purchase air tickets on the name of Rajkumar Pillai, a resident of Mumbai. Subsequently, a team rounded up Pillai and his accomplice Ramprasad Nadar.

Pillai was a former employee of US-based IT service provider Cognizant and Nadar was employed with HDFC bank.