To remain unscathed from cyber
scams, it is not sufficient to merely browse through the directory of different
fraud protection agencies. It warrants a cautious and calculated thought
process before entering the digital world to make any transactions especially
with regards to funds transfer and online banking. There exists a network of
cyber scams in all types of internet transactions right from something as
simple as booking a movie ticket to the extent of banking scams involving huge
amounts of cash outflow. A list of proactive measure that must be followed to
minimize, if not eliminate online frauds is attempted here under.
- Make payments only where secured payment processors are used
This is a pre-requisite before
making any online payment, more so while making heavy payments. Online payment
processors like PayPal provide a fraud proof platform to make payment using
bank account or using credit or debit cards. As an extra layer of security one
time passwords are sent to registered mobile numbers of the card/ account
holders and the payment is processed only after the password is fed into the
system. Fraud protection against using forgot password link by fraudsters is
ensured by requesting the debit card PIN for regenerating password.
Alternatively, the link for regenerating password is sent to the registered
emails of the account holders.
- Ensure safety of passwords and pins
90% of internet scams occur due
to confidential information obtained by fraudsters who employ novel means to
elicit the same. Banks appeal to customers never to reveal pins and passwords
to anybody. People are advised not to refer to these numbers even during
conversations in public places. Some people possess the habit of keeping a
written record of all bank account numbers and pins in a diary or a notebook.
It is a great blunder to carry the same along with the debit or credit cards.
It should be ensured that such information is kept in a very safe place.
Another common fallacy committed is retaining the first time pin, password sent
by banks, despite the fact banks require
customers to tear them up completely after memorizing the same for fraud
protection.
It is also advised to change
passwords and pins frequently. When changing passwords, quality and strength of
password is very important for fraud protection. Passwords must be unique
involving combinations of alphabets, numerals and special characters. They must
not be easily fathomable like the surname of the account holder, his date of
birth etc. Passwords must be protected with secret questions and unique
answers. These questions should again be difficult to answer.
- Access internet bank from secured connections
Using internet banking in public
cafes and unsafe and unsecured networks must be avoided. Some banks provide net
banking facilities only on secure platform. Also an alert is sent to the mobile
and email of the account holder whenever bank account is accessed from an
unknown device. The lure of free wife in public places is a risk as people tend
to use it even for confidential transactions such as fund transfer.
