Basics of Frauds on the Debit Card Holders

We have attempted this book to explore the basics of fraud among debit card holders, who are the most vulnerable segment of banking customers. Debit cards, also known as plastic money, have become an indispensable part of modern life, offering convenience, security and flexibility to the users. However, these are also exposing cardholders to various types of fraud, such as skimming, phishing, cloning, hacking, etc. These frauds can cause financial losses, identity theft, and reputational damage to the victims.

The main objective of this book is to measure the level of awareness of the debit card holders on the types and methods of fraud, and the frequency of precautions taken by them to prevent the fraud. The book also aims to suggest some measures to enhance the awareness and protection of the card holders, such as establishing a Cardholders Awareness and Protection Authority of India (CHAPAI), creating a National Cyber Crime Data Base (NCCDB), and setting up a National Cyber Crime Training Academy (NCCTA).

The book is based on a primary survey conducted among 100 debit card holders in the rural district of Perambalur, Tamil Nadu, India. The book employs various statistical tools, such as percentages, mean, median, chi-square test, and Student t-test, to analyse the data collected from the respondents. The book also reviews the existing literature and the regulatory framework on ATM fraud in India and abroad.

The book is divided into seven chapters, each dealing with a specific aspect of the study. The first chapter introduces the topic and the rationale of the study. The second chapter describes the methodology of the study, including the sampling, data collection, and data analysis. The third chapter presents the profile of the cardholder respondents of the study. The fourth chapter analyses the level of awareness of the card holders on the different types of fraud. The fifth chapter examines the frequency of precautions taken by the card holders before, while, and after using the ATM cards. The sixth chapter explores the relationship among various variables, such as age, gender, education, income, etc., and the dependent variables, such as awareness and precautions. The seventh chapter summarizes the findings, suggestions, and conclusion of the study.

The book is intended for students, researchers, academicians, bankers, policymakers, and the general public who are interested in the topic of ATM fraud and its prevention. The book hopes to contribute to the existing knowledge and literature on the subject and to provide some useful insights and recommendations for the stakeholders of ATM cards. The book also hopes to create and build awareness among card holders that would help them to safeguard their hard-earned money and their identity.