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Key Things to Keep in Mind While Shopping During Festival Season

  • Highlights

  • Festive shopping brings great joy. It is also a time to take precautions against credit card frauds and phishing attempts

  • Look out for fake websites and malicious links. Do not share your credit/debit card information, bank and personal details

The festive season is upon us. Dussehra, Diwali, Christmas, New Year – the celebrations bring with them cheer and joy. Giving and receiving gifts, buying clothes,accessories for the family,home décor items personalised gifts for our loved ones add to the charm of the festive season. This is also the season for promotional offers, flash sales and big discounts. Several e-commerce sites run shopping festivals that lure us to buy goodiesand the attractive offers that coe with it. There are, however, many things to look out for in the interest of our financial safety.

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  • Too Good To Be True Deals – Always shop at reliable stores and e-commerce sites. Do not fall for unbelievably low prices from sites that charge you in advance but may not be as prompt with their deliveries or service commitments.

  • Credit Card Fraud – Credit card frauds are all too common, particularly during the shopping season. . Do not share your credit card details with shopkeepers, and keep a watch when your card is being swiped. If you shop online and have been receiving calls asking to share your card number, CVV, OTP, etc., it isa red flag.

  • Data Farming – Do not share your credit card details online or through social media. Data farms collect personal details and sell them to scammers or use them to make unauthorised transactions. No matter how attractive the ad post or howbig the discount is, do not share your account number, personal or financial details on social media or with anyone claiming to be from a bank/credit card company.

  • EMI offers – Avail EMI offers but only from trusted NBFCs sources. If you are not sure about your eligibility for an EMI, it is best to call or email the authorised customer service contact and check before you opt for any service.

Tips for Safe Online Shopping

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  • Stay aware of increasing credit/debit card frauds, online shopping frauds, phishing, and vishing attempts.India’s central bank, the RBI, has launched a large-scale awareness campaign, and banks, NBFCs, including Bajaj Finserv are creating awareness by sending mailers. Keep yourself updated.

  • Set transaction limits on all your credit and debit cards and net banking services. It keeps you within budget and prevents large-scale financial fraud.

  • Watch out for fake websites of reputed e-commerce platforms. A safe way to detect these is by looking for the Https:// prefix instead of http://. The former is considered insecure.

  • RBI has made it mandatory for credit and debit card companies and banks to offer customers multilayer authentication. This means that you will be receiving an OTP on your registered phone and updates when you swipe your card. Pay attention to these and stay protected.

  • Do not click links sent to you on your email or through text messages unless you are completely sure of the sender’s authenticity. Use good authentication software, firewall, and antivirus on your mobile device or computer. These keep malware in check.

Grievance Redressal

Despite best precautions, it is possible that you may have grievances against the e-commerce site, retailer, shopping site, etc. Be aware of the grievance redressal process before you make a purchase. If you believe that you have fallen prey to credit card fraud or cybercrime, block your card immediately and lodge a complaint with the nearest police station and with your bank/credit card company. Also, call up the the Ministry of Home Affairs Cybercrime Helpline Number – 155260. Help is always available; reach out.

Enjoy your festive shopping but stay safe.

Savdhaan Rahein. Safe Rahein.

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