How bank fraudsters target you and how to beat them in 7 ways

financial awareness

Five ways by which scammers may try to steal your money:

  1. Customers receive a message alarming them that their bank account might be suspended (or KYC expire, card expire, etc.) unless they click on given link. The address seems genuine and so people click willingly. A website opens and it all feels legit. They ask for net banking details and scamsters misuse this info.
  2. This happens to seller. A pretending customer buys item worth 100 Rs. You, seller, see a message receiving 200 Rs. Customer says, they sent extra money by mistake so return 100 Rs. In trying to return that money, all your savings get stolen.
  3. Fraudulent call is the most common method. They congratulate, either you won a lottery or Who wants to be millionaire seat, just hang up in this case. Some calls may also be claimed from charity.
  4. Fraudsters found a new way to scam amid pandemic. You receive video call from unknown number. If you are by your own, pick it up then nude images pop on the screen. Your video call is recorded and fraudsters blackmail to extort money.
  5. Nowadays, you can now use the card without swiping it. This happens via NFC technology which is otherwise secure but scamsters carry NFC receiver and bring it near your card.

5 ways you can be cautious against scammers:

  1. Always check for https on the website where s stands for secure.
  2. Check for grammar or spelling mistakes in their message. An official message wouldn’t have any.
  3. Have an anti-virus and anti-malware installed on your device.
  4. Don’t call on numbers from blog or obscure sites. Always take bank services from customer care number mentioned on bank website.
  5. Avoid unknown numbers, especially if you are not expecting a call.
  6. Do not keep your credit card in the open.
  7. Don’t share credentials like OTP, CVV, PAN card details, etc.

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