Police investigations have revealed that bank account data of over 1 crore Indians was up for sale and that too at dirt cheap price of 10 or 20 paise per individual. This case came to light when an 80-year-old lady from New Delhi lost Rs 1.46 lakh from her credit card. This led police to investigate a module which used to steal data from inside banks, credit card companies and call centers.
The arrest of the kingpin, in this case, revealed that he had access to bank details of over 1 crore people. The accused in this case Puran Gupta, a resident of New Delhi revealed that he sold this data to anyone needing the same for 10,000 to 20,000 for every 50,000 people.
This seems to be a long chain since Puran bought this data from a Mumbai-based supplier. The people who bought this data further called up people posing as representatives from banks and used to lure them to reveal their CVV numbers and PIN numbers leading to frauds as the one in which the lady from New Delhi lost Rs 1.46 Lakh.
Bank authorities have repeatedly asked its customers not to share their PIN number and other details with anyone, yet people fall into this trap, often losing their hard earned money.