Tips to prevent ATM and mobile app scams | Fusion - WeRIndia

Several people use mobile banking to carry out transactions. However, you have to be extra cautious otherwise you will lose your money as frauds and scams are increasing day by day.

Whether you are withdrawing the money at the ATM or using mobile banking, there are certain things to be noted:

• Make sure that no skimming device was placed on the machine to track your PIN number and other vital details.
• Never allow unknown persons near you while you are at the ATM. Don’t let them stand close to the machine to check your details as well.
• Do not write PIN details on the card itself. Also, don’t share it with outsiders. You have to memorize the number.
• If you get the transaction slip after the completion of your transaction, then verify it and tear it before throwing it into the dustbin.
• Now cardless withdrawals are increasing. Potential frauds are also increasing as your approval is not essential for these. Hence, do not share your net banking details with outsiders.
• If you are using mobile banking, you have to be more cautious. There are several instances in the past where some bank employees were involved in the frauds. However, if you lose money, it is difficult to get it back.
• Always keep a 2-factor authentication while you are using banking applications. Also, do not use the same password for net banking and mobile banking.
• Experts advise the password should be different for both.
• There is an m-PIN to perform mobile banking transactions and do not share it with anyone.
• Banks generally do not allow the banking app on any other phone except on the registered mobile number with the bank for security reasons.
• Never opt for auto-save option as it may give access to fraudsters. Hence, do not click on ‘remember password’.
• Make sure you get notifications from the bank for any login failure to avoid fraudulent actions.
• Stay updated and make sure that you have updated mobile apps. Check your settings and have a stable Wi-Fi connection for doing so.

Image by Paco Silva from Pixabay (Free for commercial use)

Image Reference: https://pixabay.com/illustrations/phone-scams-fraud-dishonest-crime-449836/