Conmen Buy Petrol Stations To Circumvent Chip and Pin Credit Card Protection

A group of fraudsters have managed to outsmart Chip and Pin card protection simply by buying legitimate companies - in this case petrol stations - and cloning their clients credit and debit cards.

Three Srilankan men - who now risk deportation - were accused of creating exact copies of bank cards and used them in transactions across the world over a period of 15 months in a scam that could have, according to the BBC, cost banks up to GBP 3.5 million.

4,500 blank bank card were found at one of their home addresses - dubbed the cloning factory - together with laptops, memory sticks, card readers.

The gang literally rigged the petrol stations where they worked, installing secret cameras and hundreds of cards with magnetic strip - rather than chip and pin.

Magnetic strip cards are still widely used across the world and outside Europe, which multiplies the risks of potential fraud.

The law enforcement agencies have not announced whether there will be any indepth reviews of the thousands of petrol stations across the countries in order to weed out dodgy ones.