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    Published On : Fri, Nov 6th, 2020

    Beware, cyber thugs active to loot people in festive season

    RBI cautions people to stay vigilant against six types of bank frauds

    Nagpur: As the people gear up to celebrate Deepawali with all gaiety, the cyber thugs too have become active to target and loot the gullible citizens taking advantage of the festive season. Banking frauds are the easy way for these cyber criminals with most people using online payments or digital methods of phone banking. Hackers can use the internet to empty people’s bank accounts, warned Reserve Bank of India (RBI).

    According to media reports, the RBI has warned people of six types of bank frauds and cautioned them to stay vigilant against these types of scams. The RBI has specified the 6 different banking frauds:

    QR code fraud

    One of the most common methods of siphoning off money is through the QR code i.e. Quick Response Code. Fraudsters send QR codes to mobile phones hoping the person clicks on the link. The hackers then scan the QR code of their mobile phone and withdraw the money from the bank account of the unsuspecting user.

    UPI link fraud

    Most people have resorted to UPI transactions and so it is important to understand how this fraud works. Although this is by far the safest way to do banking, but now scamsters are using this method to defraud people. Through UPI, the thug sends a debit link to a person they click on the link and enters their PIN, the money is deducted from his account. Do not click on any unknown link to avoid such fraud.

    ATM card skimming

    Hackers can steal card data through ATM skimming. The card data is stolen by placing a device in the card reader slot of the ATM. After this, the fraudsters collect customers’ data. With this information, many cheats also steal data through fake keyboards. So do not transact from any such ATM which is in secluded areas, use only at the ATM located outside a bank branch or at the ATM located in the crowded place.

    Bank checking account fraud

    Fraudsters can cheat people by making calls saying they are from a certain bank and when you share details of your bank accounts they can steal your money. All customers should check their bank accounts from time to time and if they see any kind of withdrawal which they did not make, they should immediately inform the bank.

    Credit/Debit card cloning

    Like ATM skimming, this is another way to commit a fraud. In this, after taking all the information from the card, a duplicate card is made which is then used to draw from the account.

    WhatsApp fake calls

    Nowadays, fake calls are being made through WhatsApp where the fraudster asks for money. Upon receiving such a call from an unknown number, immediately block the number. The caller can trick you and take your money.

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