ICICI Bank is alerting customers about a new scam that can drain their accounts - Details

The advancement in technology, while making our lives easier, has also given rise to a new type of threat - cyber threat. Threat actors are committing fraud using the latest means such as QR codes and artificial intelligence (AI). The ICICI Bank has issued an advisory, urging citizens to be vigilant of a scam involving malicious files and links that could drain their bank accounts, dealing them financial blows.

Also Read: Hundreds Of Indians Are Losing Money To This Scam

What is the scam?

As per the advisory, a new type of scam is on the rise where malicious an APK link is sent to citizens, urging them to download it. Upon installation and registration, the APK begins sending all the messages received on the victim’s phone including OTPs.

The bank says, “Remain vigilant and ensure that you do not install any suspicious/malicious application in your mobile from untrustworthy sources. ICICI Bank never sends any SMS/WhatsApp message to its customers, asking them to call a particular mobile number or download any application.”

Also Read: Know how to protect yourself from quishing attacks

If citizens receive such messages, they are urged to report them immediately to the National Cyber Crime portal. The bank has also issued a list of best security practices that citizens can follow to stay safe from similar scams.

How to stay safe against scams

1. Update your mobile with the latest update and install the latest security patches.

2. Install apps only from trustworthy sources such as the Google Play Store and App Store.

3. Install antivirus software from trusted providers, and keep it updated.

4. Before allowing access to any application, pay heed to the permissions.

5. Do not click on suspicious links that you receive in emails or SMS.

Also Read: Apple iPhone scam - Celebs unwittingly promote $35 mn fraud

6. Do not share confidential information such as OTP, PIN or card details with anyone, especially over the phone or Internet.

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