Tips for Avoid Online Banking Fraud

Oct 01, 2016 | 12:38 pm

Published by | Chandan Singh


If we talking about Online Fraud, then it is a part of Cyber Crime. Attacker use conversation of messages, emails, phone calls. And you will be victim through social engineering, phishing and pharming scams.

Now a days we read lot of news about online fraud in newspapers and online articles, cause of behind in these cases are only one thing, that is they are not aware about online fraud and threats. According to these cases attacker call randomly and ask for about your ATM/Debit/Credit Card Details as official bank employee, and create a situation like your card is blocked, you are win lucky draw or lottery. When victim believed on attacker then he/she ask about other details like Card Expiry Date, CVV number, Card PIN number, and in many cases attacker ask OTP (One Time Password) code also.  And attacker withdraw good amount.

As a part of Information Security, Cyberops give you some tips for avoid online banking fraud so follow some points:

  • If you are think, you are victim of online fraud then immediate inform to your bank about that scam and request for stop all working transactions (It works only in some hours or according to bank time-line). Then report to your local police station or cyber police station.
  • If you receive that types of calls like your card is blocked or expire then contact your bank branch, sometimes genuine bank officer call about that information but they never ask about your personal and sensitive information.
  • Never give personal information like card number, CVV number, card expiry date, PIN code and OTP number etc on any medium such as phone call, email conversations or online chatting. Because bank never ask for details as per RBI (Reserve Bank of India) rules and regulations.
  • In online banking, use strong password, which is not easily guessable, you can use combination of characters, number and special characters. Your password should be at least 10 characters.
  • After increasing online scams like phishing, banking website are also secure their websites so, so choose an account with two factor authentication security with your personal phone number, so whenever you are login in banking websites its generate one time password which is valid up to 15 to 30 minutes. Without OTP  you are not able to login in your account.
  • Make sure that your login and transaction passwords are different.
  • Avoid emails and web links from unknown sources.
  • Keep your operating system up to date, specially relates with security phase such as antivirus, firewall etc.
  • If you are using third party mail client service like Thunderbird, Outlook etc. then make sure that it is secure by strong password.
  • Check your bank statements time to time.
  • In the case, your phone has lost or want to change the number, then update your phone number with bank account also as soon as possible.
  • Don’t keep your sensitive information like user id, password, transaction password on laptop. Laptops can be more stolen compare to desktops.
  • In case lost your Credit/Debit Card, then immediately call to bank and block stolen card.

The most important things are to avoid online banking fraud, you must be aware about the cyber crime and be update.