Use your debit/credit card to shop online? If not to shop then for net banking or paying utility bills? While doing financial transactions online has made our lives much easier, at the same time it has also made us vulnerable to financial frauds. Every other day, there\’s news of someone losing thousands of rupees in online fraud. Recently, a man lost over Rs 1 lakh after his Gmail was hacked. But following some basic rules while doing online transactions can save you from such frauds. Here are 10 things that you should never do while shopping or doing any kind of online financial transaction.
Credit/debit card frauds are on the rise: Stop doing these 10 things right now
Never save credit card and online banking details on Gmail or Google Drive
Never save banking details or card information on Gmail or Google Drive. Recently a Delhi resident lost Rs 1 lakh after his Google account got hacked. As the Google account was synced with his mobile number and credit card, hackers made three transactions with using these details.
Avoid making online transactions on public computers
Do online transactions only from personal computers/laptops. Never use a public or shared PC/laptop to do online transactions.
Make sure internet settings do not have auto-filling of data enabled
It\’s always easier to have auto-filling of forms data setting enabled. It saves time while doing several online tasks. But, never enable it for online transaction-related data and forms. As this means you are saving your financial data.
Try to use virtual keyboards instead of physical keyboards
Almost all banks now offer the facility to use virtual keyboards while entering passwords. So, it\’s advisable to use virtual keyboards rather than physical keyboards to protect yourself from keyloggers.
Make sure the website you are using your credit/debit card is \’HTTPS\’
This is basic. Always look for the \’https\’ in the URL before making any financial transaction.
Disable international transcations when not travelling abroad
Reserve Bank of India (RBI) has made 2-factor authentication (2FA) mandatory for domestic credit card transactions, however, the same is not required for international transactions. In case of domestic transactions at point-of-sale (PoS), the PIN works as the 2FA while for online transactions, the OTP is the second security layer. However, in case of international transactions, the second-factor authentication is not required. Also, note that if you have an international credit card, international usage is enabled by default. So, to be on the safer side, you can disable the international transactions entirely if you have no plans to travel abroad.
Erase or scratch the CVV number from your credit/debit card
Yes you can erase the CVV number at the back of your card. Of course, you will have to memorise it before doing this. This will ensure that your card cannot be used to make unauthorised financial transactions in case it falls in wrong hands.
Do not share your credit card/debit card details with anyone or over e-mail or phone
These days fraudsters often try to trap innocent card owners by making them reveal their card details online. Never ever reveal any card-related information to anyone online, how genuine he/she may appear on phone/email.
Do not click on your bank\’s website by clicking on any link received via e-mail or SMS
Another big \’No\’ is clicking on links in emails or SMS to access your bank or any other online destination. Always, open the browser and type in the website address/URL yourself.
Download banking and other financial apps only from official stores
Every few days, there are alerts about fake banking apps. Last month, security firm Sophos Labs warned against fake apps of SBI, ICICI, Axis Bank, Citi and other leading banks are available on Google Play. These apps are said to have stolen data of thousands of bank customers.
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