SAFE DIGITAL BANKING PRACTICES
• No matter how legitimate they may seem, never give out your account information, including your account number, login ID, password, PIN, UPI-PIN, OTP, and ATM/debit/credit card details, to anybody, not even bank employees.
• A popular tactic used by scammers is to threaten to block your account through phone calls or email under the premise that your KYC hasn’t been updated and urge you to click a link to do so. Never accept requests to update or expedite your KYC. Always go to your bank’s, NBFC’s, or e-wallet provider’s official website or call the branch.
• Don’t instal any unauthorised apps on your phone or another device. Your private information could be accessed discreetly by the app.
• MPIN entry is not necessary for transactions involving the receipt of money or the scanning of barcodes or QR codes. Therefore, use caution if instructed to.
• For contact information, always go to the bank’s, NBFC’s, or e-wallet provider’s official website. Search engine results for phone numbers could be fake.
• Verify the spelling of URLs and domain names that you get through emails or SMS. Use only websites and apps that have been validated, secured, and are reputable for online banking, i.e. websites that begin with “https.” Inform the local police or the cybercrime division once if you have any suspicions.
• Contact your bank or e-wallet provider right once if you receive an OTP for a transaction that wasn’t your idea. Inform your bank or e-wallet provider right away if you receive a debit SMS for a transaction that hasn’t been completed, and has all debit methods, including UPI, blocked. Check for any additions to the beneficiary list that have been enabled for online or mobile banking if you suspect fraudulent activity in your account.
• Don’t share the password of the email account that is connected to your bank or e-wallet account. Never use the same password for your bank account, your email, and any e-commerce or social media sites. Avoid using public, open, or free networks for banking.
• When registering for any website or application using your email as the user-id, avoid using the term “password” as your email password. The password you use to access your email, particularly if it’s tied to your account, should be specific to email access only and should not be used to access any other websites or applications.
• Don’t be duped by suggestions that money is deposited with the RBI on your behalf for international transfers, commission payments, or lottery winners.
• Check your phone and email messages frequently for notifications from your financial service provider. Any unauthorised transaction should be reported right away to your bank, NBFC, or service provider so that they can block the card, account, or wallet and stop any additional losses.
• Protect your cards and establish a daily transaction cap. Additionally, you can activate or deactivate for domestic or international use while setting limits. This can reduce fraud-related loss.
