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"Skimming" in e-banking is a method of
1. converting Debit Card into Credit Card.
2. transferring cash from one account to another account.
3. stealing credit card information.
4. intimating the customer about his heavy withdrawals.

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Correct Answer - Option 3 : stealing credit card information.

Skimming Fraud

  • Skimming is an illegal practice used by identity thieves to capture credit card information from a cardholder surreptitiously.
  • Fraudsters often use a device called a skimmer that can be installed at gas pumps or ATM machines to collect card data.
  • Some machines act like point-of-sale technology. An acquired card is swiped, and a touchpad allows the user to enter a security code.
  • Card users are warned to keep their cards in their sight at all times and to cover the pin pad when inputting security codes at ATMs.

Therefore, "Skimming" in e-banking is a method of stealing credit card information.

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