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HDFC warns its customers about vishing scam

IamCheated.com Research Team | December 23, 2019  5:09:pm

HDFC warns its customers about vishing scam

Vishing scams are rising each day and a lot of people have lost hard-earned money to them. Vishing which is also known as voice phishing is a fraudulent method of making phone calls to innocent people, posing as bank employees or executives of reputable companies. These calls are made with the intention of stealing personal information, like bank details, credit card numbers and the OTP.

The main reason why a lot of people are falling prey to this fraud is lack of awareness. Many people are still not aware that they are not supposed to share their personal information like card details and OTP with others.

So, banks have been alerting customers on this fraud and asking them not to share personal details with anyone. HDFC Bank has alerted its customers on the vishing scam. The bank has warned customers that they can lose money if they are not careful or alert to such frauds.

See Also: Beware of this most dangerous online banking scam

How does this fraud take place?

Under vishing scam, fraudsters call innocent people, claiming to be calling from their bank. They introduce themselves as representatives of the bank and speak in such a way so that the recipient of the call doesn't get any suspicions. After introducing themselves they entice you with offers or warn of problems you may face from the bank.

For instance, fraudsters say that your card is eligible for a credit limit extension. In order to avail this extension, you are asked to provide your credit card number, CVV and OTP. They even say that your credit or debit card is going to expire and must be renewed at the earliest to avoid getting it blocked. To complete the renewal procedures, you will be asked to share your sensitive banking information. In case you share this information, it will be used to carry out fraudulent transactions.  

In its mails and messages, HDFC has clearly mentioned that such communication is not taking place from the bank and it can be a trap by fraudsters looking to steal money from account holders.

HDFC emails and messages say that "If you receive any phone calls seeking your personal credentials like Customer ID, Password, OTP, Debit/Credit Card Number, PIN or CVV, never fall for it, as it could be a vishing phone call that can result in fraudulent activities leading to financial loss".

How to avoid vishing scam?

Never share your personal information

No bank or companies ask for your personal information like bank details, card numbers, CVV and OTP.  If you receive any call claiming to be from the bank and they ask for personal information, kindly ignore or report it to the nearest police station. Your personal banking details are meant to be a secret and must never be shared with anyone.

See Also: What to do if you are a victim of bank fraud?

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