Safe Online Banking Practices and Tips
The fraud practices and crimes in the banking sector are always on the rise due to the critical information involved The fraud practices and crimes in the banking sector are always on the rise due to the critical information involved
The way the banking and financial sectors work has completely transformed, with the latest advancements in technology. On one hand, we have a convenience of availing services from the comfort of our home, on the other, there has been a rise in cyber crimes and leaking of digital information. The fraud practices and crimes in the banking sector are always on the rise due to the critical information involved.
SBI, one of the leading banks and a 211-years-old organization is working on addressing these grievances through awareness and making its digital platform more secure. The bank considers the safety of customers as one of the prime responsibilities. As the saying goes, prevention is better than cure.
Below are some of the precautionary measures that users can keep in mind while using debit cards:
Never share your ATM pin with anyone and make sure you change the PIN periodically
The ATM pin should be complex and not easy to guess.
Do not write or share your card details at payment counters. Get the card swiped in your presence.
Do not use public WIFI while making online transactions
Avoid getting enticed by offers that are not from secured or verified sources.
Keep your answers to the security questions confidential.
For international usage of debit cards, use the ON/OFF managing facility provided to you.
One of the most common forms of fraud is “vishing” calls. From calling on behalf of banks to well-wishers, these callers build trust and gain confidential information from the users. It is important to note here that banks do not ask for sensitive information on calls. No details involving financial transactions should be shared on calls. Please note that a lot of times, these calls are made with a motive of threatening users and getting the information required. Reporting of such incidents to bank authorities will help banks take necessary action and hence avoid any crime that might happen. The risk involved in internet banking is almost as high the convenience that it brings to our lives.
Some of the basic things to keep in mind while using internet banking are as follows:
Have a strong password that includes a combination of numerals, symbols, upper and lower case letters.
Profile and login details should be different from each other and not easy to guess by others
User ID and password should remain confidential with periodic updating as a practice
Do not use public WIFI, insecure internet or internet at cafes, malls etc. while using internet banking
Get your mobile number registered with the bank to get real-time alerts and updates of your bank account
Do not share OTP/CVV or your password with anyone
For money transfers, do not keep more than the required limits of beneficiaries
Periodically check your transaction history and bank statements
After completion of your task, immediately logout of the online bank portal.
Safe banking isn’t something that you learn today and forget tomorrow. It is important for us to make this a habit. While it comes with a lot of conveniences, incorporating some simple precautions into the routine can help you in avoiding any kind of fraud or vulnerability. It is hard for us to gauge such crimes prior to the occurrence, but a little alertness and smart handling can help in avoiding such situations.
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