4 min read
15-Apr-2024
Our previous blog talked about cyber security and why it’s important to stay alert while making online transactions. We learnt about various types of cyber frauds, the modus operandi and how to stay safe from falling prey to such frauds. Let's continue to know more about these vicious threats and tips to beat the cyber fraudsters.
1. Online Shopping Frauds
- As online shopping has become the norm, fraudsters now target consumers with SMS and emails that claim to earn them reward points or unlock bonuses. If you click on the link and fill out details to claim the prize, your personal details may get compromised
- Common online shopping frauds also include selling fake products and services, wherein the seller accepts payment but never ships the product
- Always verify the identity of sellers and the authenticity of the items that you buy online
- Never click on suspicious links with unbelievable offers or the ones that claim to earn you bonuses or reward points
- In case of fraud, report immediately on cyber cell at 155260
2. Digital Transactions, Credit and Debit Cards
- Fraudsters use similar techniques to cheat you when you pay through cards. They send you links to fill in details that claim reward points or trick a card upgrade
- Never open such suspicious links and messages
- Never share your card number, its expiry date, PIN, OTP, or CVV with anyone
- In case of fraud, lost or stolen card incident, get it blocked immediately and report to the authorities
3. Online Banking Frauds
- Two common online banking frauds are messages that phish for sensitive account details by alerting consumers that they need to update their KYC to continue using online banking or that their previous payment has failed
- Unaware consumers may fall into this trap and click on suspicious links where they usually fill in their passwords and other details, which are then sent to the fraudsters
- Ignore such messages from suspicious sources
- Never visit a 3rd party link to complete a payment in the event of a failed transaction
- Banks never ask you to update your KYC details on a 3rd party website
4. Online Scams
- Phishing involves creating a fake website of a bank or a service provider and circulating it via SMS/email, etc. Unwary customers can click on these suspicious links and enter their credentials which may then get compromised
- Vishing involves fraudsters pretending to be bank officials. They call and ask you to share your sensitive account details, documents, or money for a service or account upgrade
- Fraudsters can also create fake social media handles of banks or even your friends and convince you to pay money or share account details over social media platforms
- Officials from banking and other financial institutions will never urge you to share confidential details or ask for money for any services
- Report such incidents at 155260. Always verify any social media requests for money or information from your friends or relatives in person, and check if their profiles are genuine
5. E-Wallets
- Fraudsters call you to update your E-wallet KYC by installing suspicious apps or urging you to share your details on a 3rd party website. Doing so allows them remote access to your device and compromise your E-wallet password and other information
- You might also be tricked to click on suspicious links and enter login information to get cashback in your e-wallet
- Remember, you can easily update KYC in the e-wallet app itself
- Beware of “Collect Money” or “Receive Money” frauds
6. Mobile Banking
- A common fraud is- verification links sent through fraud numbers and messages claiming to be from your bank/NBFCs. These links are used to install malware to phish your financial details
- Beware of such messages or emails from unverified sources that ask you to enter personal or financial details on suspicious websites or ask you to download verification apps
- Never click on such links or forward them to others
Guidelines to report financial frauds in India
- Alert your bank or financial service provider through an email or call your customer care. Remember to take an acknowledgement from them
- Call the 24x7 helpline number at 155260 to report any cyber fraud
- Report the crime at cybercrime.gov.in
- You can also reach out to RBI by giving a missed call on the no. 14440 or file a complaint with Sachet at: https://sachet.rbi.org.in/
Cyber Safety Do’s and Don’ts
- Use strong IDs and passwords, and keep changing them periodically
- Enable 2-factor authentication on all your apps and services such as PINs, patterns and fingerprints
- Identify and avoid phishing and vishing scams in the form of fake emails, SMSes, links, websites, and social media handles. Report them to the authorities immediately, and never forward them
- Install anti-virus and anti-malware software on your devices
- Don’t share your credentials like bank account details, passwords, PINs, OTPs, Aadhaar or PAN number
- Don’t click on suspicious links or install 3rd party apps under the guise of verification, KYC, or claiming rewards
- Don’t make any payments to unsolicited individuals or requests on apps, social media, or emails
- Don’t entertain unsolicited calls from bank officials, customer care representatives, loan officers, etc., especially those that demand money, information, or documents of any kind
Steps to take as a fraud victim
- Immediately contact your bank or service provider to lodge a complaint or get your cards, bank account, or any other service blocked temporarily
- Delete any suspicious apps you might have downloaded or software installed on your devices
- Stay calm and speak with the relevant authorities, such as the cyber-crime cell
- Prepare any proof or evidence in the form of screenshots, emails, SMSes, social media chats, etc., to build your case
- If your identity has been compromised, especially on social media, inform all your contacts and warn them before they fall victim to any scam
What to do if you are a Bajaj Finance customer
If you are a Bajaj Finance customer, stay safe and alert by following the below-mentioned cyber security tips:
- Never pay any advance money as Processing Fee for GST, TDS or a Refundable Fee for availing loans from Bajaj Finance
- Never share confidential information on the phone with anyone even if they claim to be representatives of Bajaj Finance
- Never rely on search engines to locate us, as those may lead you to fake websites
- Visit https://bajajfinserv.in/reach-us to report any suspicious activity or fraud
- Always follow our official social media pages and look for the verified blue tick. (Facebook- @bajajfinserv , Twitter - @bajaj_finserv and @bajaj_finance , LinkedIn - @Bajajfinserv , Instagram - @bajajfinserv , YouTube) have a verified blue tick or similar indicators
- Bookmark our official website address URL in your browser’s address bar- https://www.bajajfinserv.in
- Do not install any suspicious apps such as ‘Any Desk’ or ‘TeamViewer’, or share the remote access of your device with an unknown person who claims to be a representative of Bajaj Finance
- Keep your contact details updated
- Bajaj Finance official SMSes are sent via these send codes: VK-BAJAJF, AX-BAJAJF, JD-BAJAJF, JM-BAJAJF and VM-BAJAJF
Savdhaan Rahein. Safe Rahein.
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