With each new security process being introduced also opens more ways for fraudster to get access to your information and so here are few tips to keep it safe.
Recently I also got a call from an ICICIBank representative stating that my debit card is being upgraded and I will be getting a new debit card but before I can, I need to verify myself as a valid customer.
They had my ICICIBank account number and last 4 digit of my debit card which tends to make us believe it is a genuine call. I shared my complete 16 digits of my debit card number to confirm I am the owner of the account and as the conversation went on, they started asking more details about me like my address, phone number, date of birth. It was going all ok and then it went down to more details which I was not very comfortable sharing because it went down to details like mothers maiden name and finally CVV.
As soon as they asked my CVV number I started doubting. I just tricked them with wrong CVV number and they even asked for an OTP which meant they were trying a transaction with my debit card clearly indicating they were fraudster.
I just told them that you have entered all wrong details of mine apart from my card number and the transaction that you attempted is tracked and bank knows everything about it.
Phone disconnected.
As I discussed it with one of my friend, he also told me similar incident for his ICICI Bank account and not sure if this has something to do with ICICI bank but then I see it is quite a case for ICICI Bank customer. Don’t quote me on this because I just asked few of my friends and they had issues with ICICI bank.
I also have my account with HDFC Bank and there has been no such incidence with me for my HDFC Bank or other banks like SBI, Standard Chartered but only ICICI Bank.
Not sure if this has anything to do with the fake ICICI Bank ATM or something else but after seeing this video I don’t feel comfortable using an ICICI Bank ATM.
Now I prefer an ATM machine that I see other people have been able to withdraw money from.
Getting back to the original question of how to safeguard from ATM and online banking fraud?
There are few things that I follow to keep my bank accounts safe.
1. Don’t share anything over phone
Just don’t share any of your confidential details on phone. I have made this a rule and recently I had an issue with SBI card where I actually got a new card which was not active. They wanted to know my mothers maiden name for activating it and I refused it. Told them if you are fine activating the card without my mothers maiden name fine, else let it remain as inactive. I don’t care. They activated it then.
So I do share my name, address, phone, PAN card number and other such public details but nothing that is not for public. Not even my date of birth if I have not given a call.
2. Don’t Click links in Email
Once you see an email form a bank, try avoiding clicking links on it if you aren’t sure about it. Use the url to type the bank address and then login using your details. If you click links in an email, chances are you may land up on any other page of the web that looks like a bank login page but is actually not and if you enter your bank login details, the fraudster can know about your details you submit in such pages.
3. Keep your PC and Phone Clean
Keep your PC and phones Virus and Trojan free. You can be tricked by using a keyboard logger which logs every key stroke that you make and if that log is being shared to fraudster, they can easily get your username and password by identifying each key stroke that you press. Avoid using bank sites from cybercafe and public computers
You should never ever login to your bank account from public computers like cyber cafe or other people computers. Better using your phones than those computers for sure.
4. Pin codes are not safe just because you enter them when no one sees it.
Entering pin code for a transaction is a must these days but they are the full proof way of exposing those pins. If you are entering a pin for a transaction in a retail store, just hiding what you are entering does not make them safe. Just watch this video and see how to actually enter your pins safely.
Final thoughts …
I hope the above process that I follow helps you be safe from being a prey to an online fraud. Though they are not full proof way to remain safe, it is better to be aware of options fraudster are using and remain alert about it.
In 2011, I got a call from one person posing as a SBI Call Center Agent and he was trying to get my ATM PIN. I did not disclose the PIN rather i kept on conversating with him and make him busy in call for 6-7 minutes and in the meantime i searched the location and route of call ( because i work in telecom and at that moment i was sitting on my terminal). Finally i told him that police has reached near you and you will be arrested in next 3-4 minutes. He didnt believe me and started using
abusive language . When i told him the exact location and city and told him that police is around you, he disconnected the call shouting on his colleagues.
Nice lesson Sushil but did you actually reported that or was just making it.
I actually found the location but the matter was not reported to police. I just realised them that i know your location and may reach u
Very True. I received many such calls which i disconnected prematurely as banks never makes such kind of calls. If you open website of all banks the statement is banks never call for any sort of verification. If anyone receives such calls kindly log-in to the respective website and lodge the complaints with details.
Exactly Bipin. But then at times I get calls from banks like in case of my SBI Card as well.
I request all the members to opt out of SBI or any Govt. bank credit cards. They are more susceptible for such kind of attack. As regards to ICICI the data might have shared by one of the employee to such fraudsters for small fee. I previously (@ 4 yrs back) had SBI card and the guy was very persistent to know the details i disconnected the call and cancelled the card with SBI.
Is using a credit card instead of debit card helpful?
a) you don’t loose money upfront.
b) diapute the fraud transaction immediately
My wife’s account recently saw fraud transactions worth 69k INR from debit card. We are in touch with bank to get them back. It was ICICI
Hence the above learnings.
Ohh 69K. Thats lot of money. Would love to know the progress of it as you follow up with the bank and what they do to help you get it back.
Have been continuously following up with bank. 9 international transactions were done in a span of 1 hour (before my wife noticed the SMS’s). About 1k has been refunded. Rest is queue to be refunded in full. Fingers crossed.
We both are from IT field, so we know how phishing is done or how important is card details. Have never given them out. I keep the card very safe. Still such things happen.
Hence – the move to Credit card to do all expenses.
I am in IT field as well but then paying in stores and other such transactions lead to such malfunctioned transactions.
Credit card is not a better choice because the process is exactly the same and so does not matter if credit or debit card. In case of credit card, there is a big hassle that includes the refund being added to the card only and then you have to be spending that amount using that card only.
As an example if after the false transactions a bill is generated, you have to make the payment. Once transactions are refunded they remain as positive balance within the credit card that needs to be spent. Can’t get the money from a credit card into the bank account. I had one such issue where I used the card in a local shop for bill payment and then before reaching home, I had few more transactions.
Ah. I was unaware of the fact that it remains as positive credit in the card account.
What other ways do you recommend to keep the credit/debit cards safe? International transactions don’t even require OTP’s.
Just remain alert of the transactions and report unauthorized transactions as soon as you possibly can.
As the other gentleman said (@sushilgirdher:disqus) – I actually went to the police to file an FIR – but they bluntly refused any help, citing that they are completely un-equipped to handle any sort of online fraud – specially those originating from outside India.
All the taxes we pay & this is what we get to hear when we actually need any help. Wow!
Possibly case of Cyber police which I am not sure how to file a complain against either.
You should totally do an article on what to do when such a fraud happens. Many people are ignorant on how to follow up with various authorities. Even which ones to approach & how.
I am also not very aware of the process one should follow because I have not been in such scenarios very often but will try to get as much as I can from others and see if I can compile an article about it.
Thanks, very informative. I belong to the 50+ generation that is still afraid of “On-Line Transactions” although i have now outgrown my phobia.Its very common for “ICICI” bank account holders to get fraudsters asking for details .It happened with me a few times with fraud “E-Mail” letters from “I.C.I.C.I” bank but managed to avoid being a victim.Later complained to the bank about the same.Its really scary and dangerous with “OnLine” transactions and utmost caution should be exhibited.
I am very active online transactor but being cautious and keeping yourself updated of what fraudsters are upto helped me remain safe.