Hyderabad: Gone are the days when you were required to pay a visit to the bank. Almost all of our transactions from opening a savings account to investing in shares are being done on the smart phone in the palm of our hand. Beware, any slight lack of caution on your part may lead to cyber fraudsters stealing all of your hard-earned money.
Contrary to the popular myth, cyber criminals are not computer geniuses or wizard-like techies but just fraudsters bent on robbing innocent victims through sms messages and smooth talk. They call you and say they are calling from your bank. They ask for the last number in your bank card and also for other confidential information like CVV, expiry date, OTP, PIN, etc.
This basic information is enough for cyber thugs to steal all your money in the blink of an eye. It's not for nothing that the banks are alerting customers every now and then, round the clock, on your need to protect yourself from cyber fraudsters.
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The Reserve Bank of India (RBI) as well as each and every individual bank have been cautioning customers not to fall in the trap of fraudsters. Regular awareness campaigns and news reports are also appearing in the media. Till recently, only the RBI was carrying out active awareness campaign in this regard.
These days, the individual banks are also stepping up their measures to make their customers alert. The Axis Bank is putting out cautionary information against cyber crimes prominently in their website. These cautionary messages are also appearing on their ATM machines. The bank says they have set up a separate mechanism to monitor debit, credit, UPI and such digital transactions round the clock.
The RBL Bank started a #RahoCyberSafe campaign, asking customers to take a pledge not to click on unknown links. The HDFC Bank started an innovative 'Vigil Aunty' drive for safe, secure and fraud-free banking. Various other public and private banks are conducting their own campaigns to make customers refrain from sharing confidential information to unknown persons. The bankers say these campaigns are aimed at creating greater confidence among the customers, who are hesitating to avail digital banking services because of cyber thefts.
Also Read: Over 100 percent increase in cyber crime in Delhi
HDFC Ergo, ICICI Lombard General Insurance, Bajaj Allianz General Insurance and other companies are providing personal cyber protection covers. They give compensation if your money is stolen via theft of your confidential banking information without your involvement. Your money is protected against loss caused via hacking into your computers and mobiles through virus.
Many banks are providing two layer protection by asking for one more security in addition to OTP. For safer digital banking, the same password should not be used for online banking and mobile app. Unauthorised apps should not be downloaded on your smart phone. Don't trust messages promising abnormal returns. QR code scan requests lead to fraud. Banks never directly call you for any information. If your relationship manager calls you, his details and phone number will appear on your online account. Never do banking transactions on your phone using free WiFi offered by outside locations.
