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

Save Tax With Mutual Funds

Download Tax Saving Mutual Fund Application Forms Invest In Tax Saving Mutual Funds Online Buy Gold Mutual Funds Leave a missed Call on 94 8300 8300       Mutual funds are ideal as long term investment avenues for retail investors. To encourage investments in this avenue, the Government of India offers investors a spate of tax benefits thus ensuring maximum benefit from mutual funds held beyond a year. Sample some of the key benefits and refer to the table for a detailed list of tax rates for different types of schemes ·        Avail deductions under Sec 80C of the Income Tax Act by investing up to a maximum of Rs. 1 lakh in designated Equity Linked Savings Schemes (ELSS). Such investments have a compulsory lock in period of 3 years. ·        First time retail investors in equity with a gross total income of up to Rs. 12 lakh can invest up to Rs. 50,000 in specific MF schemes un...
Read more

Buying a Used Car

Invest in Mutual Funds Online Download Mutual Fund Application Forms   Pre-owned car can make sense in these inflationary times. But buying one can be trickier than getting a new vehicle    If you are thinking of buying a car but are worried about the rising inflation and higher EMIs eating into your budget, you should consider buying a used car. For those learning to drive, the general advice is that they should hone their driving skills in a used car. However, buying a used car is not an easy task. Though a used car costs less, there are a lot of aspects to be considered while buying one. You should do your due diligence before buying such a car. For example, two cars of the same model would carry two different prices. The difference in price could be on account of the age of the car, how many people have driven, etc. First Fix Your Budget Since used cars are available in a wide variety of models and prices, the starting point would be to determine your budget befor...
Read more

How much to invest in gold ?

Invest In Tax Saving Mutual Funds Online Download Tax Saving Mutual Fund Application Forms Buy Gold Mutual Funds Call 0 94 8300 8300 (India) Let your motivation dictate the share of the yellow metal in your portfolio Enough has been said and written about gold as an investment option. The latest argument is that the craze for gold among Indian households is endangering our country's balance of payments. The policymakers are busy trying to find ways of discouraging investment in gold, but if households keep the common good in mind, they would be paying the market price for gas cylinders as they do for, say, their mobile phone bills. After all, private decisions are driven by private motives. So, how should a household look at gold from its own perspective? Gold is primarily acquired for its merit as a store of value. Even if the worst crisis hits a family, the gold that it holds could be put to use anywhere in th...
Read more

Debt Mutual Funds Best Fixed Income Investments

Debt Mutual Funds - Invest Online     In the last one year, except for a select few sectoral funds and small cap funds, not many of the equity funds have given great returns. On the other hand, debt funds have done relatively well in terms of returns. So far in the new year too, the stock market has been extremely volatile, pushing investors to look for safer havens. In this context, debt funds are looking safer bets for those investors who do not have the appetite for higher level of volatility. Investors who look for a regular income stream, also look at fixed income products like debt funds, bank fixed deposits and post office monthly income schemes.  Among the fixed income products, debt funds score over others because of chances of higher return, has nearly similar level of risks and liquidity. According to Shah, people looking for regular income could opt for a systematic withdrawal plan (SWP) in debt funds , which, if done judi ciously could also save on taxes. Shah explaine...
Read more

Diversification is key to gain more

Even those who prefer debt for its safety are looking at more options    It is not often that you find more than a couple of asset classes producing good returns at the same time. Invariably, assets such as gold and equity don't perform in tandem, and hence it was easier to allocate to them in line with the risk profile of the investors. In the last couple of quarters, however, more than one asset has turned attractive - gold, debt and equity. In line with the trend, you even have monthly income plans with a combination of more than two assets.    In the past, those who stuck to debt were a different class of investors who didn't wish to take risk with their money. The changing lifecycles and the growing integration of investment markets across the globe have pushed even individual investors to embrace the concept of asset allocation. Hence, you have individuals who were using debt to park profits being prepared to take advantage of other assets.    For instance, when the...
Read more
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