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NPCI Guidelines To Save Yourself From Bank Fraud

IamCheated.com Research Team | December 01, 2018  4:17:pm

NPCI Guidelines To Save Yourself From Bank Fraud

Bank frauds are increasing each day. Lakhs of people have fallen prey to bank frauds and lost crores of rupees. Fraudsters use various tricks to steal money from innocent people. The main reason why many people are falling prey to bank frauds is lack of awareness and financial illiteracy. Many people still commit the basic error of sharing personal banking details like card number, CVV and OTP with others.

In order to avoid bank frauds which are increasing each day, National Payments Corporation of India (NPCI) is into awareness programs to educate citizens on the types of frauds that take place and how they can easily avoid these frauds on the Unified Payment Interface (UPI).

In a recent video released to create public awareness, the NPCI had warned that fraud can happen anytime through a phone call in the following ways:

1. Fraudsters might call saying you have won a lottery worth Rs 2 Crores. To receive the lottery amounts, victims would be asked to share UPI ID and UPI PIN details.

2.  Fraudsters call people posing to be from telecom companies. Victims are told that their telecom operator is upgrading credit limit on their mobile connection. To complete the up gradation process, victims will be asked to send an SMS.

3. You will receive a call saying you have won prize money worth Rs 2 Lakhs. To receive the prize amount, you will be asked to accept the collect request which has been sent to your UPI ID and pay the money quickly.

4. You might receive a call saying there seems to be suspicious activity in your account. You will be asked to share OTP immediately to register your account against the fraud.

5. Fraudsters will call saying there is fraudulent activity and withdrawals from your debit card and you will be asked to share debit card details immediately.

Fraudsters call customers using the above-mentioned tricks and end up with their personal banking details. Once the details are collected they will be used to steal money from the bank account. NPCI advises people not to share personal details saying "sharing is not always caring".

NPCI says that these frauds can easily be avoided by not sharing personal banking details or by not taking any action concerning their accounts or by not registering a new SIM card or by not sharing any OTPs sent to their mobile number. It also says that any bank or reputed institution will never call asking for personal details.

See AlsoHow To Avoid Bank Fraud: Review By IndianMoney

NPCI guidelines to protect from bank fraud:

1. Never share personal details like card number, CVV, OTP, UPI ID, and PIN with anyone over the phone. In case you share these details over the phone, you could fall victim to a vishing scam.

2. Do not send money to unverified sources.

3. Never send an SMS which contains unknown codes to an unknown number. Sending SMS with unknown codes to the unknown number can lead to SIM swap or SIM spoofing frauds.

4. You should never post transaction details on social media platforms.

5. In the case of any suspicious activity, report to the bank or telecom company immediately.

6. If you have any other questions or queries, you must visit your bank or telecom operator office before taking any action.

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