Over the past few years, we have seen substantial rise in online bank scams and frauds related to ATM debit card. Despite of several cautions from bank authorities, the number of such scams recorded each day is on the rise. The number of people falling prey to such scams has gone up with every year and common man is an easy prey for such online scammers. However, such online scams are carried out after the victims themselves share their vital information such as One Time Password (OTP), which results in loss of their money. Here are some simple steps to ensure safety for your online transactions. 

Recently, Avanti Patel, a Bollywood Singer and Indian Idol 10 contestant along with her sister has duped of Rs 1.7 lakh. According to the report from Mumbai Mirror, the fraudsters are suspected to have employed Unified Payment Interface (UPI) to dupe the singer and her sister. Avanti Patel and her sister lost a huge sum for the fact they forwarded the message containing OTP to the fraudster.

It is essential to understand that you shouldn’t be revealing your bank account details to anyone, even if he/she claims to be a bank executive. Recently, Indian Overseas Bank in Gujarat was fined Rs 10,000 for giving husband’s account details to wife. Sharing your details with other could result in cyber-attack or fraud, as you can fall victim in a matter of minutes.

So, how can you stay safe from such online banking scam? Well, there are certain precautions that you need to follow while making online transactions to ensure you remain secured. What is Safer Internet Day? Know History and Significance.

1. Firstly, it is essential to set a strong password as it will safeguard against password attacks. Also, keep a unique password for payment applications.

2. You need to ensure that your smartphone is unlocked through biometrics, PIN or pattern.

3. It is very important to install anti-malware app or anti-virus application on your smartphone.

4. Never open any third-party links received through WhatsApp messages or emails, a majority of the time these are scams.

5. Monitoring your account activity is highly suggested, and you should report about unusual activities on your account.

6. Also, keep track of all the transaction messages as well as notifications you receive from the bank, as it is essential to remain aware of all your transactions.

7. Never share your details with anyone irrespective of the fact how small the information might be. Never reveal information related to bank accounts, debit card, credit card, OTP, CVV, card expiry date and any other details.

These precautionary steps related to your bank account will keep you safe from several online scams or cyber frauds. As the number such has increased, it is suggested that you should remain cautious and take precautionary steps from falling prey to such scams. Be careful and be safe.

(The above story first appeared on LatestLY on Jan 04, 2019 01:47 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).