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Be careful! Now online banking frauds being done by breaching the OTP

Wednesday - November 13, 2019 10:59 am , Category : WTN SPECIAL
Online fraudsters take advantage of your mistakes
Online fraudsters take advantage of your mistakes

You can become a victim of online fraud due to mistake, greed, and carelessness 

NOV 13 (WTN) - In today's modern era, you must have been using online banking for the bank related works. There was a time when you used to waste a lot of time for even a small bank-related work. But due to online banking facilities, bank-related tasks are done from mobile at home. But as convenient as an online banking facility is, it is equally risky. When using online banking, if the user makes a hasty mistake or then shows greed or carelessness, then online banking fraud can happen with him. 

It has been observed that due to the mistakes of most users, online banking fraud cases are increasing. If you also use online banking, then you need to be very cautious. At the same time, users need to be more alert while shopping online. In fact, nowadays users who shop online are more targeted than the fraudsters. What is this whole matter? Let us tell you in detail. 

As you know that the OTP (One Time Password) is considered the safest way when shopping online. But for your information, let us know that OTP is also not safe nowadays. These days, there have been many cases in which fraudsters cleverly demanded OTP from online banking users, or then hackers hacked into their smartphone and stole the OTP. 

In some cases, fraudsters have become so clever that in order to get the OTP; they are going to the bank and changing the registered phone number registered in the bank account by claiming that they are real account holders. After changing the registered mobile number, the receiving of the OTP starts on the fraudster's mobile number and in this way; fraudsters start unauthorized use of the bank account of the respective account holder. 

Not only this, but the fraudsters are also adopting another method to get the OTP. For this, the fraudsters take duplicate SIM by submitting fake ID proof to the mobile operator. During this process, the mobile operator deactivates the old SIM-only while releasing the new SIM. In this way, the fraudsters use the account holder account unauthorized by obtaining the OTP on the duplicate SIM fraudulent.

This type of fraud can happen to you as well, so we urge you to use caution if you are using online banking. First of all, the smartphone, laptop or desktop you are using for online banking should have the latest measures to protect anti-virus and software. Always make your banking password strong and change it from time to time. 

Never be tempted by any phone call, message or e-mail and be alert and careful with Phishing and Vishing. Do not reveal your OTP, password, and bank account-related or personal information to anyone. Never use online banking in a cybercafe or never use public Wi-Fi. Always keep the wallet locked with your smartphone and the banking app installed in it. Remember, your bank account can be safe only with your caution, if you have made mistake or negligence or shown greed then you can be a victim of online banking fraud.