Bank Scams: How To Protect Yourself From Bank Frauds This Festive Season?
The festive season is a time when you are likely to see more scams, but a few measures can save you. Read precautions here!
Diwali is the biggest festival of the year in India. It’s a time for celebration, joy and a lot of shopping. But this also means that scammers will try to trick you into sending them your money or personal information online. A small mistake made can cause you big trouble. That’s why, to help you avoid getting tricked, here we have mentioned some tips on how to protect yourself from fraudsters this festive season!
Let’s begin with the most likely bank scams you can experience and then move to the tips.
Bank Scams You’re Likely To Experience
Although, there are new scammers with new scams every day, still following are the most reported scams of the festive season:
Fake shopping sites and sellers
Fake gift cards and vouchers
Fake offers and discounts
Fake delivery notifications
Fake charity links
Fake loan offers
Protect Yourself From Fraudsters: Follow These Tips
The festive season is a time when you are likely to see more scams. The fraudsters are on the prowl, and they are very active during this period. So, it is important to be extra vigilant during the festive season. There are some simple measures that can help you avoid falling prey to bank fraud during this period. Read below:
1. Phishing emails: Phishing emails usually contain malicious links or attachments that can install malware on your computer system causing data loss and financial loss too, if not detected. You should always check for spelling mistakes before clicking any link inside an email or attachment. If there are spelling mistakes or if the sender does not make sense, then just delete those emails without opening them or downloading any attachments from them.
2. Do your research: Research before you commit. There are many online shopping websites that ask you to enter some sensitive details like your personal information, PIN or maybe OTP. Before providing any details to any website, check its authenticity. See if the source is legit. You should always take your time reading through these resources, as they will help you make a wiser and more secure choice.
3. Choose payment methods carefully: Avoid using your card at a shop or restaurant that doesn’t have a good reputation. Never give out your card details over the phone unless you have initiated the call yourself and are sure of who you are speaking with, as they may be an imposter.
4. Be wary of advertisements: Again, be wary of advertisements. Don't be fooled by ads that claim to be from a government agency or a bank or credit card company. These ads are only trying to get information from you so that they can steal your money or collect your personal information.
5. Don’t give your PIN to anyone: If any online business asks for your PIN for any type of transaction, disconnect that call right away. Also, always try to avoid storing the same PIN for all accounts as this makes it easy for hackers to guess your password and withdraw money from them without any identity proof. Try not to use personal information such as birth dates, names of family members etc.
We hope this article has given you a better understanding of the possible dangers of bank fraud during the Diwali season. As we’ve seen, it’s important to be aware of your surroundings and protect yourself online. Don’t make any transactions without consulting with your bank first—and if they don’t seem legitimate, don’t proceed! Finally, remember that no matter what happens during this festive period or throughout the year, banks have systems in place to help protect against fraudulent activities on your account.