<p>A gang of cheats duped ICICI Bank and its ATM service provider of Rs 9.60 lakh since September 2014 by manually tampering with the cash dispensing shutters of ATMs.<br /><br /></p>.<p>The modus operandi used in the scam required precision during execution, but was simple in nature.<br /><br />Police said the cheats used the exit shutter manipulation fraud. Once the PIN and requested amount were entered in the ATM, the process of cash dispensation would begin.<br /><br />Manually stopped<br />“To carry out the fraud, the accused placed their hands against the exit shutter. Cash gets dispensed, but the manual halt leads to the ATM displaying an error in the transaction,” said a police officer.<br /><br />Due to the transaction error, the ATM would also automatically reverse the transaction.<br />“Initially, the cash requested may get debited from the bank account, but it would be credited back,” the officer added.<br /><br />At the end, cash never gets debited from the bank accounts and causes loss to banks and ATM service provider.<br /><br />A case has been registered after Prizm Payment Services approached Special Commissioner of Police (Crime Branch) Taj Hassan.<br /><br />In the complaint, the firm’s legal coordinator Rakesh Singh told police that they have been receiving such complaints since September 2014. <br /><br />But the scam was unearthed after they failed to find the excess cash in the ATMs. Excess cash would have been there if the transactions were cancelled.<br /><br />34 cards used<br />Till date, 34 debit cards of several banks have been used in the ICICI Bank ATMs for such transactions.<br /><br />After scrutiny of CCTV footage of the ATM transactions, Prizm Payment Services found that the customers had taken money from the ATM, but still went ahead to lodge a complaint about non-disbursal of cash.<br /><br />“It was also observed that one person was using different debit cards and was seen holding the cash dispensing shutter of the ATM. He also received cash which was seen in his hand,” the officer said. <br /><br />After an initial probe, police have not ruled out the possibility of the gang being involved in more cases.<br /><br />In this case, Prizm Payment Services ended up losing the money.<br />The ATM service providers operate under procedures prescribed by Reserve Bank of India and National Payment Council of India.<br /><br />In cases of dispute regarding non-disbursal of cash from ATM, the issuer bank lodges a dispute through NPCI which is then forwarded to the acquiring bank and further to the ATM service providers.</p>
<p>A gang of cheats duped ICICI Bank and its ATM service provider of Rs 9.60 lakh since September 2014 by manually tampering with the cash dispensing shutters of ATMs.<br /><br /></p>.<p>The modus operandi used in the scam required precision during execution, but was simple in nature.<br /><br />Police said the cheats used the exit shutter manipulation fraud. Once the PIN and requested amount were entered in the ATM, the process of cash dispensation would begin.<br /><br />Manually stopped<br />“To carry out the fraud, the accused placed their hands against the exit shutter. Cash gets dispensed, but the manual halt leads to the ATM displaying an error in the transaction,” said a police officer.<br /><br />Due to the transaction error, the ATM would also automatically reverse the transaction.<br />“Initially, the cash requested may get debited from the bank account, but it would be credited back,” the officer added.<br /><br />At the end, cash never gets debited from the bank accounts and causes loss to banks and ATM service provider.<br /><br />A case has been registered after Prizm Payment Services approached Special Commissioner of Police (Crime Branch) Taj Hassan.<br /><br />In the complaint, the firm’s legal coordinator Rakesh Singh told police that they have been receiving such complaints since September 2014. <br /><br />But the scam was unearthed after they failed to find the excess cash in the ATMs. Excess cash would have been there if the transactions were cancelled.<br /><br />34 cards used<br />Till date, 34 debit cards of several banks have been used in the ICICI Bank ATMs for such transactions.<br /><br />After scrutiny of CCTV footage of the ATM transactions, Prizm Payment Services found that the customers had taken money from the ATM, but still went ahead to lodge a complaint about non-disbursal of cash.<br /><br />“It was also observed that one person was using different debit cards and was seen holding the cash dispensing shutter of the ATM. He also received cash which was seen in his hand,” the officer said. <br /><br />After an initial probe, police have not ruled out the possibility of the gang being involved in more cases.<br /><br />In this case, Prizm Payment Services ended up losing the money.<br />The ATM service providers operate under procedures prescribed by Reserve Bank of India and National Payment Council of India.<br /><br />In cases of dispute regarding non-disbursal of cash from ATM, the issuer bank lodges a dispute through NPCI which is then forwarded to the acquiring bank and further to the ATM service providers.</p>
