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Beware of this most dangerous online banking scam

IamCheated.com Research Team | December 18, 2019  12:02:am

Beware of this most dangerous online banking scam

The way we do banking transactions has completely changed. Now, we prefer doing our banking transactions online rather than visiting the bank in person. With the advancement in technology, transferring money is a cakewalk.

You can transfer money from one bank account to another just by sitting at your home. You can also do a lot of things like paying utility bills, EMIs and so on. As many people are using online banking, online frauds are also on the rise.

Fraudsters target innocent people who use online banking and trick them of their hard-earned money. Normally, people who are not completely aware of online transactions fall prey to this trick played by fraudsters. They employ various techniques to cheat people. Here in this blog, we will discuss the most dangerous online banking frauds of 2019.

Under this fraud, innocent people are made to download remote desktop apps like AnyDesk or TeamViewer on their phones. These apps are used by IT professionals to work on remote devices without being on-site. Unfortunately, it is being misused by fraudsters. Using these apps one can take control of your devices remotely.

As a lot of people do not know much on these remote apps, fraudsters are misusing them to cheat people and make money.

See Also: Is it safe to save banking details on websites and apps?

Here is how this fraud takes place

1. Fraudsters call up and say that they are calling from your bank or e-wallet companies like Paytm.

2. To gain your trust they will verify details by asking name, date of birth and mobile number. The main intention of fraudsters is to make you download the AnyDesk app.

3. The fraud callers will try to scare you by saying that your card will get blocked or your Paytm will stop working or something similar to convince you to download AnyDesk or TeamViewer app

4. The caller will convince you to download AnyDesk or TeamViewer app by saying your card will be blocked or your Paytm will stop working.

5. Once the AnyDesk or TeamViewer app is downloaded on your phone, you will be asked to grant certain permissions.

6. Once all the permissions are granted, the app will generate a 9-digit code. This code will allow another person to gain access to your mobile.

7. To take control of your mobile, the fraudster will ask you to share this code.

8. After this code is shared with the fraudster, they gain access to your mobile, remotely.

9. Once they take control of your phone they get access to all your details including OTP.  Using these details fraudsters will wipe out money from your bank account.

See Also: Guidelines by HDFC bank for debit card users

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