In the present day where info is addressed as wealth, it is crucial to have fundamental awareness regarding online scams. There is a considerable rise in the number of users that depend on online payment applications. Now for fetching a PNB mini statement number or Bandhan bank mini statement, nobody visits the bank branch. Most of the transactions are conducted from the convenience of the home or office with just a click. However, the underbelly of such a rise is owing to the unfortunate growth of frauds and scammers. Listed here are some important ways you can safeguard yourself as well as your loved ones from any online fraud. 

No. 1 tip – 

Use caller ID applications to figure out cybercriminals. By default, such applications red flag specific numbers as they previously have been flagged as spam by certain users. But even while using such apps, you must ensure to remain vigilant and cautious before sharing your personal details.

No. 2 tip – 

Do not download apps from unknown sites or ads as they might have some malware that might steal your personal details. Prefer downloading a verified application through the Google Play store, Windows Apps Store, Apple app, etc. Ensure to also check the developer score before downloading the application. 

No. 3 tip – 

Always ensure to be cautious of using public WI-FI as this can be utilised as a trojan to steal your phone information. Avoid using them for making your online payment or for accessing sensitive personal details or information. In this case, it is thoroughly important to use, including an additional security layer i.e., use a mobile virus that scans through the WI-FI network or use a VPN. 

No. 4 tip – 

Ensure to look for the SSL certificate when browsing sites. A secure website will have 2 crucial aspects, firstly ​‘​​HTTPS​‘​ before www and on the address bar, it will have a lock icon. This displays that your website is safe to further use. Most pop-up links are extremely unsafe and hitting on them invites hackers and scammers to access your website. 

No. 5 tip – 

Though getting numbers off your internet is simple, it is even necessary to authenticate customer care numbers. Spammers and hackers have infiltrated site info and redirected calls to anonymous platforms to extract details. As a rule of thumb, always take numbers from the company site in place of any listing website. 

No. 6 tip – 

Consider installing anti-viruses for all your desktops, laptops, and mobiles. They assist ameliorate firewall security and even scan for viruses keeping your device safe. 

No. 7 tip – 

Remain informed regarding the new scams and stay vigilant while getting calls. Fraudsters tend to con anyone into disclosing sensitive info like bank information or card details. Note that no financial institution or bank will ever ask you to provide such details over a call, regardless of how important the scenario may be. 

No. 8 tip – 

When making use of the QR codes for making payments in the store is a good option available to you, avoid scanning the codes sent to you by the 3rd party applications or any unknown individual. It becomes a crucial source for them to accumulate account details or transfer funds directly. Always ensure to remain conscious when you engage with 3rd party or any WhatsApp vendor. Scanning of QR codes, and bar codes and inputting MPINs are not a requirement for the transaction including receipt of money. 

No. 9 tip – 

Secure your debit cards and ensure to set a transaction cap on them. Moreover, you can deactivate or activate your account for foreign and domestic usage. By doing so, fraud loss might be lowered exceedingly. 

No. 10 tip – 

Ensure to keep an eye out for notifications from your service provider. Any suspicious activity must instantly be reported to your financial institution so that the card, your account, or your wallet may be blocked instantly to prevent additional loss. 

Mentioned here are some of the common net scams – 

Fake loan deals and offers – 

Feeding on customers’ requirements, preferences and needs, fraudsters and scammers create a fake loan deal through a fake advertisement. Such advertisements provide loans at an attractive rate of interest or at easy payment modes. When the customer approaches the scammer for a loan, they tend to raise invoices for distinct fees like the advancement of initial instalment or GST and abscond without processing the loan proceeds and leaving you at a loss of funds. While digital banking has ameliorated greatly the processing of loans, it is crucial for you to stay diligent while assessing a lender and filling out an application form. If you receive any email or SMS showing an ​attractive rate of interest and processing charges on a loan, ensure to first visit the website of the bank to confirm this information before you proceed with submitting the application for a loan. Also, always avoid clicking on the link received to you in your email or through SMS, these may be acts of phishing. Apply for the loan through the lender’s authentic site or by opening your net banking account if you have an account with the same bank offering an attractive loan deal. For instance, if you hold an account with Bandhan Bank, then now you know apart from fetching your Bandhan Bank mini statement, you can also fetch the lender’s details and contact them if the loan details are not mentioned on your net banking. 

KYC scams – 

KYC scams are one of the common kinds of scams today in the lending space. Here the fraudster or scammer impersonates banking officials to persuade you to share your crucial info in the pretence to update your KYC details. The info collected by such imposters is more than sufficient to access your bank account. You can prevent such kinds of scams by staying vigilant and instantly informing the bank about such incidents. 

Insurance frauds – 

Here the fraudster poses as an insurance agent and makes use of a fake email ID to fill out false details online as well as collect the 4-wheeler insurance but pays money just for two-wheeler vehicle insurance. You may be penalised for holding the incorrect insurance cover and end up with zero reimbursements in the case of theft or accident.