Fraudulent have number way ways to trick you to get access to your bank accounts, credit cards, and debit cards. We all have at some point received a phone call when someone is says that you have won a bumper contest and in order to send to the prize money they need your debit card or credit card details, your personal identification number (PIN) and card verification number (CVV). Many of us get into the trap and in excitement give away their details, and later realize that instead of credit, money has been stolen from our bank account.
And the other most common trick used by the fraudsters is that randomly you see multiple bank transaction messages, but you haven’t done a transaction and all your cards are intact with you. Don't be sad, you are not the only victim there are thousands of people who have and are becoming victims of such fraudsters.
According to Reserve Bank of India data, from April 2017 to December 2017, 23,865 fraud cases related to credit, debit cards and internet banking were registered.
Cybercriminals use multiple kinds cyber attacks to get on hold of personal pieces of information of the users. Some of the common ones are- phishing, fake apps, fake websites, SIM swap, spoofing, cloning, and skimming.
“Such crimes cannot occur without the collusion of bank officials and staff of telecom service providers,” said Puneet Bhasin, a Mumbai-based cyber law expert, and president, Cyber jury Legal Consulting.
“Fraudsters helped by bank officials manage to get the same mobile number as that of the victim’s to steal the OTP,” Bhasin said.
You need not worry if you have lost money due to lack of security from the bank. According to the norms of RBI, a customer has a zero liability if the loss is due to the negligence of banks. However, if the loss is due to your negligence then you will have to bear the loss. As per RBI guidelines, if you witness any kind of fraud activity, you should immediately inform your bank, and block your debit or credit card to avoid any further loss. And it is your responsibility to inform the bank within 3 days about a fraudulent transaction.
Then you need to file a complaint with the bank and at your nearest police station. If you are not satisfied with the bank's response, approach the internal banking ombudsman and can even go to the consumer court.
A cybersecurity expert J Prasanna says that "in a court of law. Bank will win with kind of money and resource it has. The blame may be put on pin card leakage and also exposing cvv."
Register for SMS alert service to get updates on transactions. And, Please don’t share any details related to debit or credit cards, account numbers with anyone.
And the other most common trick used by the fraudsters is that randomly you see multiple bank transaction messages, but you haven’t done a transaction and all your cards are intact with you. Don't be sad, you are not the only victim there are thousands of people who have and are becoming victims of such fraudsters.
According to Reserve Bank of India data, from April 2017 to December 2017, 23,865 fraud cases related to credit, debit cards and internet banking were registered.
Cybercriminals use multiple kinds cyber attacks to get on hold of personal pieces of information of the users. Some of the common ones are- phishing, fake apps, fake websites, SIM swap, spoofing, cloning, and skimming.
“Such crimes cannot occur without the collusion of bank officials and staff of telecom service providers,” said Puneet Bhasin, a Mumbai-based cyber law expert, and president, Cyber jury Legal Consulting.
“Fraudsters helped by bank officials manage to get the same mobile number as that of the victim’s to steal the OTP,” Bhasin said.
You need not worry if you have lost money due to lack of security from the bank. According to the norms of RBI, a customer has a zero liability if the loss is due to the negligence of banks. However, if the loss is due to your negligence then you will have to bear the loss. As per RBI guidelines, if you witness any kind of fraud activity, you should immediately inform your bank, and block your debit or credit card to avoid any further loss. And it is your responsibility to inform the bank within 3 days about a fraudulent transaction.
Then you need to file a complaint with the bank and at your nearest police station. If you are not satisfied with the bank's response, approach the internal banking ombudsman and can even go to the consumer court.
A cybersecurity expert J Prasanna says that "in a court of law. Bank will win with kind of money and resource it has. The blame may be put on pin card leakage and also exposing cvv."
Register for SMS alert service to get updates on transactions. And, Please don’t share any details related to debit or credit cards, account numbers with anyone.