Banking and UPI Fraud
Banking & UPI Frauds: One of the most common types of banking fraud is identity theft and another form of banking fraud is phishing. UPI fraud refers to any type of fraudulent activity that takes place in the context of UPI-based digital transactions. Some examples are –
- Installing application from unknown sources.
- Acting and responding towards any suspicious emails/messages/calls.
- Using weak password on banking applications or lock screen.
- Save Bank account and pin details in phone.
Best Practice for safe usages of mobile banking
- Keep strong password and enable biometric permissions on your phone.
- Do not share Pin with anybody, use biometric authentication whenever feasible.
- Do not install apps on the advice of strangers or through links in emails,
social media, messages etc. - Report the loss of mobile to the bank to disable PIN and access to the bank’s account through mobile banking Apps.
- Banks Never ask for Bank account details, debit/credit card details, CVV number etc.