HDFC Bank warns account holders of cyber fraud; shows how to stop loss of money

    • HDFC Bank has shown how account holders can protect their money from cyber fraud.
    By: HT TECH
    | Updated on: Aug 21 2022, 21:48 IST
    HDFC Bank
    With online banking crimes rising, HDFC Bank has shared tips to stay alert against cyber fraud. (MINT_PRINT)
    HDFC Bank
    With online banking crimes rising, HDFC Bank has shared tips to stay alert against cyber fraud. (MINT_PRINT)

    With the aim of avoiding Covid-19 virus, most people are avoiding cash and moving towards digital payment - online banking. Since this has caused most money transactions to move to net banking, it has invited cybercriminals and led to increase in cyber fraud! Keeping this in mind and in a bid to alert its account holders, HDFC Bank has warned them of the rising threat of cyber frauds. Not just that, HDFC Bank has even shared tips on how to stay safe while doing online banking. Most of the time when cybercrime happens, it is the account holders who unwittingly divulge their secret information regarding their bank account to strangers. 

    Account holders should know that fraudsters have become more advanced and learnt different ways to steal money online. According to the National Crime Records Bureau (NCRB), the number of cybercrime cases recorded an 11.8% increase in 2020 from the previous year.

    Cyber frauds: Modus Operandi

    During the festive season, the possibility of cyber fraud accelerates as online shopping, e-transactions and usage of the internet increases. There are various ways in which cyber fraudsters try to steal money:

    1. Pretending to be bankers,

    2. insurance agents

    3. healthcare workers

    4. telecom workers

    5. Government officials

    Their goal is to:

    1. Get your KYC information,

    2. Re-do your KYC,

    3. Offering new jobs

    4. Threaten to block your account

    5. Claiming fake emergency.

    How to stay stop cyber fraud and save money loss

    In view of this, HDFC Bank took to Twitter to alert customers regarding cyber fraud. HDFC Bank statement read: “While shopping online, stay alert & practice #MoohBandhRakho when asked for banking information from unknown sources. Avoid giving out sensitive information on unverified payment pages.”

    List of precautions that you must follow to avoid cyber fraud:

    1. Never give your PIN or OTP to anyone

    Remember that you never need to authenticate your account through PIN or OTP to receive money in their bank account. Any request for an OTP/PIN should raise an instant red flag. Also, keep in mind that your bank or any other institution would never request personal details.

    2. Do not click on unknown links

    Not all that glitters is gold. If the offers seem way too good too be true, then they probably are - avoid. If you click on suspicious links, you may be sent to phishing websites, putting you at risk of becoming a victim of identity theft.

    3. Use only official bank websites

    Customers are frequently given inaccurate customer service numbers, leading them to believe they are interacting with an authorised employee from the bank or insurance provider. Always double-check these numbers before contacting them.

    4. Never make payments on unknown portals

    Fraudsters usually try to clone the official websites, where customers usually need to share their bank account details, debit cards, credit card, etc. during registration, which results in more frauds. Beware of such websites, check the website logos, UI and other details twice to check if the website is real or just a clone. Never give out your information, if you found anything phishing.

    “If you stay alert and follow these simple steps, your money will be safe with you,” Ravi Santhanam, Chief Marketing Officer of HDFC bank said in a statement.

    Follow HT Tech for the latest tech news and reviews , also keep up with us on Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

    First Published Date: 06 Nov, 10:55 IST
    Tags:
    NEXT ARTICLE BEGINS
    keep up with tech