Afraid of digital banking? Here’s what you need to know to avoid online fraud
New Delhi: In this new era of digitalization, are you someone who is afraid of online banking? Well, don’t worry, you’re not alone. Although the COVID era has rocketed digital transactions, many people are still hesitant to move their banking to the internet due to fraud. One wrong click can land you in many financial troubles. However, there are security measures to prevent such financial cyber fraud, even if you are a regular user of digital transactions.Also read – Forgot the UPI PIN code? Here’s how to generate it. Follow the step by step guide here
One can make the most of digital transactions by arming oneself with the power of basic knowledge and awareness. Remember that fraudsters can also reap the benefits of technological advancements. So here are the eight important ways to protect yourself from online payments. Also Read – UPI Scam Alert: Don’t Make These Stupid Mistakes When Paying Online
Use only smart and verified apps
Mobile apps are great for quick access to a variety of services. Whether it is a financial app or a games app, remember to install apps on your mobile phone and make sure that you are using a verified app. Download apps only from genuine play stores such as Google Play Store, Apple App Store or Windows App Store. Also Read – ‘Telecom Penetration to Determine Banking Penetration in India’
Only browse secure and authorized websites
A website may look professional, but you should avoid making payments online unless you are sure it is genuine. Be aware of website domain names that may resemble the original in the URL. Only browse websites that have “https://” preceded by “www” and the domain name in the URL.
Use secure connections
The urge to use insecure public connections can also lead to a problem as it becomes accessible to cyber fraudsters on the prowl. They can monitor your activity and access your smartphone using advanced technology. Therefore, if you plan to make an online payment, make sure you do so using a secure private internet connection.
Be careful when using the card
Always make card payments in front of your eyes and check if the POS card reading machine is genuine. There are many stories of cards being cloned by skimmers because the card needs to be out of your sight when making online payments. If your card is lost, immediately informing the bank and having it blocked is the first step to take, as blocking the card quickly can prevent financial losses.
Improve your computer and mobile security
Keep your computer and mobile phone security software, web browser, and operating system up to date to prevent online cheating. Always define your strong passwords with special characters, letters, numbers and upper and lower case. Remember to change passwords regularly.
Do not answer unsolicited calls and messages
We all receive fraudulent calls, emails and messages that attempt to trick us into disclosing personal information. Fraudulent callers may pose as an employee of a bank or financial institution and ask for your financial details, citing issuing credit cards, free cash back, lottery, etc. Once they get your bank details, they can steal your hard earned money. from your bank account without your knowledge. Do not entertain these communications.
Don’t give “remote access” to your computer
Unless you’ve contacted a technician to repair your computer, anyone trying to access your computer remotely is most likely a scammer. These types of deceivers will invoke reasons such as updating your software, operating system or antivirus and get access to your personal information which later turns into online payment fraud.
Avoid sharing your personal information
Never share your personal and banking details offline or online unless you are absolutely sure of the authenticity of the representative. There may be a cyber crook disguised as an official of a financial institution. Always verify the identity of the person requesting bank details and never share your personal information on social networking sites either.
Thousands of people fall prey to this type of banking scams every year in this online banking environment. These tips can help you protect your bank balance.
(With ANI inputs)