- Exclusive: Income tax now begins investigation in Axis Mutual Fund case; 12 fund managers in India now within its radar: Sources
- Dalal Street Corner: Sell-off IT, FMCG, metal force market to close in red for 2nd day; what should investors do on Wednesday?
- Grasim Industries Q4 results 2022: PAT up 55% YoY, net sales rises by 18%; company recommends Rs 5 dividend
- Government allows duty-free import of 20 lakh tn per year of crude soyabean, sunflower oil; applicable for FY23, FY24
- SEBI allows MFs to launch passive ELSS, debt-based ETF schemes; Zee Business decodes what it means for investors
VVIP just lost WHOPPING Rs 23 lakh from her bank account! Save your money, don't make this mistake
If you think that only a middle-class people are looted of their hard earned money by fraudsters, then you are wrong. Anyone who is not careful can be duped. This also applies to VVIPs! The latest case to come to light is that of Preneet Kaur, wife of Punjab Chief Minister Amarinder Singh.
If you think that only a middle-class people are looted of their hard earned money by fraudsters, then you are wrong. Anyone who is not careful can be duped. This also applies to VVIPs! The latest case to come to light is that of Preneet Kaur, wife of Punjab Chief Minister Amarinder Singh. She was duped of Rs 23 lakh in an online fraud. But beware! You too can lose your money, if you are not careful.
So, how did it happen and what are the lessons in it for you? Kaur got a call from a person who claimed to be a manager in the country's largest bank - State Bank of India. She was reportedly in Delhi when she got the fraud call.
The fraudster sought her bank account number, bank ATM (automated teller machine) PIN and later even the OTP (one-time password), generated on her mobile phone. Unfortunately, Kaur shared the information! Shocking result was soon out. She received an SMS from the bank saying Rs 23 lakh have been withdrawn from her account!
How did this massive loss of money happen?
Cyber security expert Amit Dubey explained that this is a type of vishing attack where people are looted through social engineering. "I come across a lot of cases like this. What happens is that fraudsters create panic and tempt you to share your details or click on certain links that rob you of your money. It also happens because people are often confused."
WATCH Zee Business TV LIVE Streaming Online -
By the time people relaise that they are being robbed, they end up losing a lot of money, Dubey said.
How to stay safe?
There is no rocket science in understanding that how people can stay away from such scams. But, how to differentiate between a genuine call or a fake call? Dubey explains that first of all people need to understand that no bank will ever call you to ask for information. "In case you get a call from someone claiming to be a bank representative, you need to check the number. There are lot of apps like Truecaller that allow you to do this. In most cases, other users would have already reported this number. So, verify it before sharing anything"
Dubey said that the next thing to ensure is that you don't share OTP or card CVV number. This information could be used to access your bank account.
"In fact, people should not even share their date of birth. The fraudsters could use this information to get your account details from the bank. There are many ways through which you could be robbed, so the customers need to be very careful with their information," Dubey added.
Fortunately, in the Kaur case, she acted fast and informed the cyber cell of the police, which traced the caller to Ranchi in Jharkhand. Senior Superintendent of Police Mandeep Singh Sidhu said the fraudster was arrested along with a few others and the investigation was on.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.