Skip to main content

Do not answer to emails asking you to update Bank Account data

PHISHING is on the rise in India. A large number of bank account holders continue to lose money due to phishing attacks. According to IBM-X Force Trend and Risk Report 2010, which is based on the study of global networks, India tops the list when it comes to origins of phishing emails and has a global share of 15.5 per cent.


Although, the number of phishing emails originating in India is high, phishing URLs are mostly hosted in other countries. Banks and financial institutions are the main targets of fraudsters.

There have been phishing attempts at top private and government banks. A large section of customers of these banks got emails asking them to update their account details. Several customers of these banks responded to the mails and lost money. If you lose your money due to phishing, banks are not liable to pay back your money.

If a fraud has occurred because a customer compromised his password and personal details, a bank will not bear the loss of the customer. It is the job of the customer to protect his bank details.

How can you recognise a phishing mail? You would see a message in your inbox from your bank with which you have an internet-enabled account asking you to update your account with your personal information, passwords, usernames /login ID, ATM PINS and credit card details on the pretext of upgradation of server of the bank. You will be asked to click on a link. By clicking, you would be linked to a website that is identical to your bank. If you are smart enough, you would realise that this is a trap to get your vital information to make fraudulent transactions.

A few months ago, fraudsters in garb as officials of the Reserve Bank of India (RBI) send emails to people asking them for their account details. The fraud came to light after people reported that they have received an email from the address update @rbi.org.in, which was suspicious.

The Cyber Emergency Response Team of India blocked the fake RBI website, while the RBI on its website alerted people not to fall prey to the phishing scam and alert the police and their bank if they have shared their bank details.


Simple steps to avoid falling prey to these scams: Most phishing emails come with a warning that if you don't give your personal information, your account will be deactivated. Always be suspicious of mails that ask for your personal information.

Do not click on the link provided in the email. If you closely observe, the link would be a fake URL with a fake email address for instance ICICI.bank@gmail.com, which is not the correct address of ICICI Bank, or sbicustomerservice @hotmail.com.

Do not give any confidential information such as password, customer identification number, credit/debit card number, personal identification number, date of birth to any email request, even if the request is from government authorities like the income tax department or any card association company such as Visa or MasterCard.

Do not open unexpected email attachments or instant message download links.

Always check the web address carefully before sharing any information.

For logging in, always type the website address of the bank on your web browser.

Ensure that you have installed the latest anti-virus or anti-spyware or personal firewall or security patches on your computer or high end mobile phones.

Do not access net banking or make payments using your credit/debit card from shared or unprotected computers in public places.

Do not call and leave any personal or account details on any telephone system, voice message, email or an SMS.

Do not transfer funds to or share your account details with unknown people.

If you smell something fishy, call the bank and the police.
 

Popular posts from this blog

Post Office Deposits Interest Rates

Best SIP Funds to Invest Online   SIPs are Best Investments when Stock Market is high volatile. Invest in Best Mutual Fund SIPs and get good returns over a period of time. Know Top SIP Funds to Invest Save Tax Get Rich For further information on Top SIP Mutual Funds contact  Save Tax Get Rich on 94 8300 8300 OR You can write to us at Invest [at] SaveTaxGetRich [dot] Com

How Tax Deducted at Source (TDS) works?

    THE tax season is here. And if you are an employee you can't blame your employer for deducting large chunks of money from your salary towards tax deducted at source ( TDS ), which he is legally obliged to do. Your bank will also deduct some percentage from your FD interest of Rs 10,000 or more towards TDS! So what is this TDS all about? How is it computed? Are there any changes this year? Read on... What is TDS? TDS reduces your taxable income and could even provide tax relief! The TDS collections account for 40 percent of the total taxes collected in the country. As the name suggests TDS is the amount of tax that is deducted at source in certain types of income . The TDS thus collected is deposited in the Government treasury within a specified time. How is it computed? Some of the types of income where TDS is applicable include salary, interest, rental fee, interest on securities, insurance commission, dividends from shares and UTI/Mutual Funds, commission and brokerage

Modern day balanced mutual fund approach

Buy Gold Mutual Funds Invest Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Call 0 94 8300 8300 (India)   In reality, most balanced funds have a strong tilt towards equity instead of a mix of equity and debt THERE are various types of mutual funds available to investors with specific features. Often investors have a particular idea about a specific type of funds in terms of their features and risks, but that is not what is actually available. Therefore, it is necessary for an investor to understand the actual position before picking up a fund. This requires some work on the part of the investor. One example can be the situation with balanced funds. Name is not representative: One of the first things that an investor has to understand is that the name of the fund is often not representative of its investment pattern. The name often represents only the aim of the fund, and not what it actually is.

ELSS Tax Saver

ELSS Stands for Equity Linked Savings Scheme.   ELSS Fund are mutual funds with 3 years of lock in period and offer income tax benefit under section 80C. They are open ended to purchase. Not all Mutual fund Investments are eligible for tax exception. List of Tax Saving Mutual Funds   Invest in Tax Saving Mutual Funds ( ELSS Mutual Funds ) to upto Rs 1 lakh and Save tax under Section 80C.   Invest Tax Saving Mutual Funds Online Tax Saving Mutual Funds Online These links can be used to Purchase Mutual Funds Online that are regular also (Investment, non-tax saving)   Download Tax Saving Mutual Fund Application Forms from all AMCs Download Tax Saving Mutual Fund Applications   These Application Forms can be used for buying regular mutual funds also   Some of the best Tax Saving Mutual Funds available ( ELSS Mutual Funds ) HDFC TaxSaver ICICI Prudential Tax Plan DSP BlackRock Tax Saver Fund Birla Sun Life Tax Relief '96 Reliance Tax Saver (ELSS) Fund IDF

Should you invest in tax-free infra bonds?

THOSE looking to save tax should take note of the latest buzz in the debt markets. Power Finance Corporation ( PFC ) and Housing Urban Development Corporation (Hudco) have launched bonds that will help you save more tax than your regular infrastructure bonds. Soon, IRFC and NHAI are likely to follow suit with similar bonds. KP Jeewan, general manager, debt markets, Karvy Stock Broking, says: "The coupon in these bonds are completely tax-free and those in the highest tax bracket can expect an effective yield of 10.75 per cent, compared to the 9.5 per cent a 10-year public sector bond would offer." The PFC and Hudco offerings are of 10- and 15-year tenures, with coupon rates of 7.5 and 7.75 per cent, respectively. Unlike other regular tax-free infra bonds, the tax benefits in these bonds are not capped at ` 20,000. Even besides these tax free bonds, those in the highest tax bracket have had plenty of opportunities to invest in tax saving infrastructure bonds under 80 CCF i
Related Posts Plugin for WordPress, Blogger...
Invest in Tax Saving Mutual Funds Download Any Applications
Transact Mutual Funds Online Invest Online
Buy Gold Mutual Funds Invest Now