Gone are the days when we stood in long lines at a bank to do banking. Thanks to technology, there is no such hassle in accessing banking services. From online shopping to paying, digital banking has become our preferred partner. While technology has made banking easier for us, it has also increased the likelihood of online banking fraud many-fold. Therefore, it is important that you understand how to protect yourself from such threats.
Every year, millions of Indians fall victim to online fraud – a type of fraud that occurs in cyberspace. According to a report released by the National Crime Records Bureau (NCRB), 50,035 cybercrime cases were recorded in India alone in 2020 – a significant 12 percent increase from cyber crimes recorded the previous year. Below we have mention the steps prevent Phone Bank Fraud.
4 Ways to Protect Yourself from Phone Bank Fraud
Keep Financial Data Separate
Especially for business users, use a dedicated workstation to perform all corporate banking activities. Use other computers to access the Internet and conduct non-bank transactions. When it comes time to decommission the computer that was used to access corporate banking, make sure you back up any confidential information and erase the hard drive before recycling.
Keep Your Passwords Secret
Do not share passwords or leave documents containing access to financial information in an unsecured area. For better protection, change your passwords regularly and use a combination of letters, numbers and special characters if possible. Change your wireless network’s default password and default SSID (name used to identify your network). Don’t broadcast your SSID and consider using encryption on your network.
No Phishing Allowed
Beware of phishing emails. These emails are designed to encourage you to click on the links provided in the email to verify or change your account in any way. Often, the links included in the email are a way for scammers to install malicious software (also known as malware) on the computer or device you use to access your email. This malware can be used to obtain personal information.
Never use public computers for Net Banking
Absolutely avoid using public computers for Net Banking. Using a public device makes your banking information more vulnerable to threats and the hacker could easily get your secure information which can bring you in trouble of losing money which is held in your bank account. Therefore, make it a golden rule of life never to use public computers for online banking and escape the hustle and bustle of fraud.
Final Words
We hope our article on methods to Protect Yourself from Phone Bank Fraud will help you and resolve all your problems. You may not think you have coveted information. So why should cybercriminals care about you? In fact, scammers look for identities like yours so as not to arouse suspicion about their crimes. If you want to know how to prevent Phone Bank Fraud then follow the steps mentioned above.
I hope you understand this article, How to Protect Yourself from Phone Bank Fraud.
