As the number of transactions through internet have increased, quite normally banking frauds has also increased. Fraudsters usually obtain the login credentials (User ID and Password) to access the bank account. For this they adopt various means including phishing or even they will call the customers stating that they are from bank and asks for the account details.
One incident that occurred a few months ago is that a person (say A)received a call in his mobile. The caller introduced himself as a staff of the bank. Now the caller told A that the ATM card of A has been expired and needs to be renewed. For this he asks for the ATM card number, account number, ATM PIN number. The caller was speaking Tamil and A knows that the manager of the bank branch in which he maintains account belongs to Tamil Nadu. So without wasting time he disclosed all the details asked to him. The caller told him that he will soon receive the code if the details were correct. The call ended. A received a One Time Password (OTP) in his mobile. A was called again asking the OTP and a gave the OTP. Soon A received message that his account was debited all the money. Realizing that he was cheated he checked his account statement and found that the amount in his account has been utilized to recharge the mobile.
The above mentioned is the most common type of fraud that happens in India. Now let us look in to the security tips provided by most of the banks to their customers for doing online transaction.
- Access your banks website only by typing the correct address in the address bar. This is the first tip provided by majority of banks. This prevents the user from entering in to wrong website created by the fraudster.
- Do not click on any links that is sent to you through e mails as this may lead to stealing of data from your computer or downloading malicious programs in to your computer.
- Banks will never asks for you personal information, PIN, One Time Password etc. over telephone or SMS or emails. So don't respond to such calls. If any such attempt comes to your notice, report immediately to the nearest branch.
- Do not respond to any SMS or emails asking you to furnish the details in banks website.
- Always use newer version of Operating System with latest patches installed.
- Use a good antivirus software in the computer and do regular scanning. There are several websites that help you to choose better antivirus. But use only genuine anti virus software only.
- Using a firewall and anti key logger software will increase security to a great extend
- Some banks provide virtual keyboards to prevent key loggers. If possible use Virtual Key Board
- Check your bank statement periodically.
- Always Log Out after finishing your transaction.
- Do not use net banking facility in the public access systems, cafes etc as we are not sure about the security of such systems.
- Last but not the least, always change your net banking password periodically preferably after every 30 days.