In today’s world, we are all reliant on net banking via websites/mobile applications or online transaction systems such as Paytm, Phone Pe, Google Pay, and others. This practice has simplified our financial services, but it has also introduced new difficulties in terms of cyber security plus safety. Many people have fallen victim to fraud and lost money as a result of a lack of knowledge regarding proper facts.
Customers in general, whether they use net banking or not, should be cautious about a few issues these days. They can prevent getting ensnared by them, or at the very least recognize a fraud person or an occurrence in which he or she is being targeted.
- The most essential thing to remember is that if an unknown individual requests personal information by phone call or other means of contact, do not provide it. Your age, date of birth, place of birth, parents’ names, account number, card number, IFSC code, and OTP are all extremely sensitive and crucial pieces of information; any leak of this information might result in a fraudulent transaction.
- A strong password that is difficult to guess is required.
- It is critical to keep the operating system (OS) up to date and to apply fixes on a regular basis.
- Be aware of current phishing schemes and how to avoid them. When you are not using your phone or another gadget that you use frequently, lock it.
- Back up the device’s data on a regular basis.
- If you have the net banking option, check your online account on a frequent basis.
If multi-factor authentication is available in your app, use it.
- Use approved anti-virus software on the device to prevent viruses from tracking your transaction or password and stealing money from your account.
- Download mobile apps from trustworthy sources; any other software can infect your machine with a virus, putting your money at risk if the device is connected with your account.
Avoid KYC Fraud
A bank will not send links to their clients to update their KYC information, just as they will not contact and request any sort of bank-related information from them. If a consumer receives a link requesting KYC information, the link should be ignored. These URLs might be delivered by scammers. It is not advised that you forward these communications to anybody. Furthermore, clicking on links/phone numbers/email addresses given through text message should be avoided because a bank will never send a link via text message.
Because October is National Cyber Security Awareness Month, all banks are pushing their clients to be more knowledgeable and aware about online banking transactions as well as cyber security.
No matter where you decide to keep your hard earned money, make sure you are practicing the best security measures to keep your money safe. Please see the helpful infographic below for more information.
Provided by Chicago Partners – providing wealth management for high net worth individuals
