Customers of SBI, ICICI, Axis, HDFC, BoB, Yes Bank? Stay safe while doing this; do not make these mistakes
SBI, ICICI, Axis, HDFC, BoB, Yes Bank have made mobile banking very easy and these bank customers can transfer and receive money anywhere they are, but they must keep dangers away or they may face big monetary setbacks.
These are dangerous times when it comes to doing bank mobile transactions. Why? The amount of cyber threats has skyrocketted. Cyber crimes are higher, in value and number, when it comes to banking sector, as the money involved is massive indeed. Chances are that bank account holders can be fooled if they are not very careful and do not make mistakes.
A huge number of threats exist, including bank ATM fraud, bank account hack, fake apps, credit card, debit card loss, data threat and many more. All these attacks point to only just one ending - you lose your money. Hence mobile banking is also no different, and important measures must be taken to ensure your money is safe and secure while you are sending and receiving .
The NDA government, which recognises the threat, has been pushing for digital transactions and turning India into a cashless economy. Because of this heavy push towards digital transactions, there is also risk involved.
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SBI, ICICI, Axis, HDFC, BoB, Yes Bank have made mobile banking very easy and these bank customers can transfer and receive money anywhere they are, but they must keep dangers away or they may face big monetary setbacks. Two big advantages of having a mobile banking facility, is that it avoids the issue of knocking at banks and ATM doors for carrying out a transaction plus it is also the quickest way to carry out a fund transaction.
As a citizen, to have a secured mobile transaction, one should learn to use it properly and stay well within the law. It is being revealed that there are fake apps that have targeted Indian citizens. When downloaded by innocent users, these apps fool them into revealing their credit card details, including even PIN.
Customers of banks like State Bank of India, ICICI Bank, Indian Overseas Bank, Axis Bank, Bank of Baroda, Yes Bank and CitiBank have been under threat of being trapped in this fraud. Hence, let’s understand how to stay secure while undertaking a mobile banking transaction. ICICI Bank has listed out few pointers on its website for its account holders to remain safe in terms of mobile banking. These pointers are common in case of other banks, and can be used as useful tips.
1. Set up a Pin/password to access the handset menu on your mobile phone. Set up a Pin/password that is difficult to crack.
2. Register/ update your mobile number and e-mail ID for alerts to keep track of your banking transactions.
3. Delete junk message and chain messages regularly. Do not follow any URL in message that you are not sure about.
4. If you have to share your mobile with anyone else or send it for repair/maintenance
Clear the browsing history
Clear cache and temporary files stored in the memory as they may contain your account numbers and other sensitive information
Block your mobile banking applications by contacting your bank. You can unblock them when you get the mobile back
5. Do not save confidential information such as your debit/credit card numbers, CVV numbers or PIN's on your mobile phone.
6. Do not part with confidential information received from your bank on your mobile.
7. Install an effective mobile anti-malware/anti-virus software on your smartphone and keep it updated.
8. Keep your mobile's operating system and applications, including the browser, updated with the latest security patches and upgrades.
9. Do not enable auto-fill or save user IDs or passwords for mobile banking online.
10. If possible, maximise the security features by enabling encryption, remote wipe and location tracking on device. Never leave your mobile phone unattended.
11. Turn off wireless device services such as Wi-Fi, Bluetooth and GPS when they are not being used. The Bluetooth can be set up in invisible mode. Avoid using unsecured Wi-Fi, public or shared networks
12. Do not use "jailbroken" or "rooted" devices for online banking. Jailbreaking or rooting a device (the process of breaking into the phone's built-in operating system to control it outside the vendor's original intention) exposes the device to additional malware and gains administrative or privileged access of OS.
13. Only download apps from official app stores such as Apple iTunes, Android Marketplace, Google Play Store and BlackBerry App World.
14. Never disclose personal information or online banking credentials via e-mail or text message as these can be used for identity theft.
15. Log out from online mobile banking or application as soon as you have completed your transactions. Also make sure you close that window.
16. Be aware of shoulder surfers. Be extra careful while typing confidential information such as your account details and password on your mobile in public places.
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17. In case you lose your mobile phone, please call 24-hour Customer Care of your respective banks.
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