The Central Government is taking several concrete steps to increase the digital India campaign at a bigger scale. In which digital banking has played an important role. The same kind of speed in the online banking after the ban was not seen in the last five years. The faster the digital transactions are taking, the faster the digital bank fraud is increasing. Banks has taken important steps to protect its customers. Banks have laid down certain conditions to safeguard their online customers’ information and to protect online fraud. Which can prevent you from the losses you make.
Cash transactions from banks have become expensive now. HDFC, ICICI and Axis Bank have started charging cash transactions. After four free transactions in one month, a minimum fee of Rs 150 will be charged every time. This rule has been implemented from one March to the Savings and Salary Account.
Customers have got great relief on digital bank fraud. Now you have to tell the bank about any digital fraud you have with the bank within 3 days. Bank will compensate the amount of fraud. If you give information in 4 to 7 days, you will not be completely compensated. Banks will make up to Rs 25,000 only. After 7 days, the information on the compensation will depend on the bank.
Experts say that to avoid cyber fraud, online PCI-DSS certification on website should be seen in the online payment.
See Payce’s logo when paying with mobile app. Clicking on people of Pacek will see a validity certificate. Do not open links and attachments in e-mails of unknown people.
Add anti-virus, spam filter, anti spyware in system, mobile. Keep checking your account balance regularly.
Let’s say that after the trends of digital transactions have increased rapidly, it has also caught the fastest job. To prevent this, banks have given such a guideline. To make the digital transactions more secure, a one-time password (OTP) is required on the purchase . R.B.I. will make the OTP mandatory for transaction over a fixed amount (one or two thousand). This facility will be given to all banks to their customers.
The biggest risk in digital banking is identity theft in digital bank fraud :
Digital banking is the most common method of fraud. Frauders steal your banking entities and then use them wrongly. For this, they get your banking deal through malware attack, fake offers. People should keep in mind that they do not click on any unknown link or share your information through any email, messaging app, SMS, voice note and Skype. Such links mostly come to people through messages. Malware attack program downloads on your system or phone as soon as you click on such link and stole your information.
Digital bank fraud And Your personal information stolen in these three ways :
Wishing: In this manner of theft, a person calls the people as a bank employee and gives banking requests by giving them various kinds of arguments. These people cheat more information and steal their information. Many of these people are highly educated and know-how.
Malware Attack: Through this method, a program is installed on your phone or computer, and it stole all the information. It is very difficult to track, so it is always advised that do not open unknown sites and applications. Always keep secure antivirus in the system.
SIM card swapping: In case of malware attack and sim swapping in mobile banking, continuous increase. These cases have increased in 2014-15. Users of mobile banking have increased due to all its convenience. The cases of banking fraud increased through SIM swaps. People who stole your identity in the digital theft steal your identity and block your SIM and activate the same SIM on fake ID. After that, using the one-time password (OTP) coming to your number, it does all the transactions in your name.
What to do if you are a victim of digital bank fraud :
As soon as you find out that you have been a victim of such fraud, immediately contact the bank and block the card. Also, change the password of banking login immediately. Note the reference number of the complaint and follow it continuously.
Cybercrime Unit also runs online fraud and banking fraud cell. If you are a victim of such fraud then immediately contact Cyber Cell and file a complaint.
Submit a written complaint to the bank, mobile banking service provider, mobile wallet company.Keep following your complaint. If your money goes around some process of the bank, then it comes back in a few days but in the case of fraud you will need to trace the complaint continuously.
You should also contact the police and keep an eye on the action of the case and knock on the court if there is no relief from it.