Abstract
Nowadays, cyber crime is a serious problem in the world including banking industries wherein card cloning is the greatest concern. In various countries, banks are giving magnetic stripe card to their customers, which is not secure because card cloning of magnetic stripe card is very easy and cyber criminals can make cloned card easily using an electronic device known as skimmer. There is strong need to eliminate magnetic stripe cards from banking industries and issue chip based card to the bank customers so that their money can be secured in the banks. In this research, it is suggested that banks should use chip based card to fight against cyber fraud which happens using cloned card.
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