Home > Blog > How To Avoid Bank Fraud: Review By IndianMoney

How To Avoid Bank Fraud: Review By IndianMoney

IamCheated.com Research Team | November 28, 2018  6:51:pm

Bank frauds are very common in India and many people have lost crores of rupees to them. Fraudsters use many tricks to steal money from the bank accounts of innocent people. According to reports, on an average, banks have reported at least one fraud each hour. It is also likely that bank frauds will increase in the future. Most common bank frauds which take place in India are identity theft, card skimming, phishing, vishing and so on. As the bank frauds increase each day, you must be very careful about your bank accounts. In this blog, we will discuss how to avoid bank frauds.

How To Avoid Bank Fraud: Review By IndianMoney

1. Go through your bank statements regularly

It is very important to go through your bank statements regularly. This can help identify if there are any unauthorized transactions. In case you find any unauthorized transactions, you can report it to the bank and prevent further fraud. Not many citizens have this habit, but it’s very important to develop it.

2. Your password and PIN are meant to be secret

ATM PIN and bank passwords are very important to keep your money safe. So, you must keep them a secret. Unfortunately, many people have the habit of writing the ATM PIN on the back of cards and on pieces of paper.  In case you have this habit, kindly get rid of it to keep your money safe.

3. Make sure your online banking password is strong

Your online banking password should be strong so that nobody can crack it. Avoid keeping your birthday, name and phone number as passwords. Your password must be a mixture of capital letters, numbers and special characters.

4. Change passwords regularly

It is very important to change passwords and ATM PIN regularly to keep your money safe.

See AlsoPost complaints on IndianMoney if you are cheated by online shopping portal

5. Never give your bank details over the phone

You may get calls from unknown people, who pretend to be from banks. They may persuade you to part with banking details like CVV, card number, OTP and so on. You must never give bank details over the phone. You must remember that banks never ask for personal banking details over the phone. In case you receive such calls, kindly ignore them or report to the police.

6. Never share your bank details through email

Banks will not ask for personal banking details through email. If you receive such emails ignore them.

7. Do not click on unknown links

If you want to make any online transactions, do not click on the link which is sent to you via email or SMS.

8. Report lost or stolen cards immediately

If you find debit or credit cards missing or stolen, report this to the bank as soon as possible. This can help avoid fraud. You can call up the customer care of the bank and get your credit/debit card blocked.

9. Don’t use public computers for making online transactions

You must never use public computers or Wi-Fi to make online transactions as this is not safe.

10. Be careful while using ATMs

You should be very careful while using an ATM to withdraw cash. Look at the people around and make sure nobody is looking over your shoulder. Avoid using ATMs which are located at dark corners of buildings or ATMs which looks very old and bulky.

See AlsoHow to avoid Online Shopping Fraud: Review by IndianMoney

11. Watch out for skimmers

Skimmers are small electronic devices which are placed in ATM slots or the POS machines to steal card details.  If the card reader of the ATM looks loose or shaky, there are chances of a skimmer being present.

12. Destroy old documents

Before throwing the old documents which have got your bank details, make sure to destroy them. Otherwise, they could be misused.

Have a complaint against any company? IndianMoney.com complaints portal Iamcheated.com can help you resolve the issue. Just visit IamCheated.com and lodge your complaint.

If you want to post a review on any company you can post it on Indianmoney.com review and complaint portal IamCheated.com.