Fraud Alert - II
Online banking frauds is the latest menace Bank customers face, and increasingly they are becoming most vulnerable to the same. Adding to its woes, fraudsters keep innovating their tricks, and even educated, smart and people from banking community too are falling prey to their designs these days. While taking a call from an unknown number, you are always scared to the intentions of the caller.
'Not sharing OTP' is the standard remedy experts talk about, but I wonder fraudsters' training module that when they speak over phone/mobile, they talk so authentic, and so authoritatively that a common person/housewives especially, can-not guard against their tricks, and end up sharing OTPs, no matter how many times they are warned against such sharing of OTPs. Sometimes fraudsters even pose themselves as people from CBI/ED/Vigilance and Police to force their victims to share OTPs by threatening that your mobile connection will be freezed or your Debit card shall be freezed etc.
Latest trick they employ these days is that they are not dependent on OTPs, and instead take control of your Bank account, over a phone call, and siphon out your money without your having an inkling to what's happening to your bank account as per the latest news going around.
While Fraud Alert talks about how not to fall in their trap, this Fraud Alert - II talks about how to minimize your losses even when unfortunately you walk into their traps.
Suggestions
1. Do not take a call from any unknown number, as far as feasible.
2. In case you take a call, and the caller start checking on your name, Aadhaar number, Bank account details etc, disconnect the call immediately. Do not get into any kind of conversation with them at all.
3. In case you take a call, as you may believe it's a genuine call, still be on guard. Fraudsters shall bombard your mobile phone with series of OTPs, initially to re-validate your personal details, and then in that guise, they send you another OTP to check some nominal amount transaction, before finally sending an OTP which they use for siphoning off entire amount held in your bank account.
The guard here is when you share an OTP, if at all you have to, make sure you first check the amount mentioned in the OTP. If the amount mentioned in the OTP is big enough, don't share OTP. Disconnect the call immediately, for the fraudsters are sway talkers and they shall still try to prevail upon you even if they know you have seen through their designs. Just disconnect the call, and you are saved.
4. All people doing online banking, through Bank's App downloaded on their mobiles, may not be aware that there is something called 'Card Control'. No matter what ever amount you may maintain in your bank account, but through Card Control, you can set your limits for various kind of online transactions, and then restrict your loss to such limits set by you in case fraudsters gets access to your bank account.
It's ok to downsize Card Control limits; for when you need to do a transaction of higher amount, you can always increase the limit, do the transaction, and again reset such limits to the minimum amount you are comfortable with.
Conclusion:-
(i) Firstly, avoid getting into their trap. Don't take a call from any unknown numbers.
(ii) In case you take such calls in good faith, speak as little as possible. Stop answering their queries as soon as you feel it's fraudsters on the other line. Disconnect the call immediately.
(iii) In case you still fall prey to fraudsters designs and lose money, immediately call National Cyber Crime Portal Helpline No. 1930 (earlier 155260), and register your Complaint at cybercrime.gov.in. And/or additionally you may also file an FIR in your nearest Police Station.
(iii) Managing Card Control limits for your Debit/credit Cards help you to minimize your losses, in case fraudsters have their way, and you save yourselves earthshaking losses. Set such limits on various online transactions immediately.
Guard yourself adequately.