Police arrest Chinese national for ATM skimming in Karachi

KARACHI: Police arrested a Chinese national for his alleged involvement in ATM skimming scam from Tipu Sultan Road here on Sunday.

Police claimed to have recovered an ATM skimming device and Rs6 lacs from his possession. The man has been identified as Shu Shuping.

Three accomplices of the suspect managed to flee from the spot during the raid, police said.

However, no further details were shared about the raid.

Earlier, Federal Investigation Agency (FIA) officials arrested four suspects involved in ATM skimming fraud in Rawalpindi, recovering skimming devices from their possession.

ATM skimming — an illegal activity in which account details are stolen from the magnetic strip contained on the back of the debit card has been around for a while and such incidents have happened, sporadically, in Pakistan as well.

To safeguard the depositors from fraudulent transactions, State Bank Pakistan (SBP) has issued specific regulations for the security of payment cards and internet banking, under which banks are required to develop and implement comprehensive framework for risk assessment, implementation of controls and monitoring.