The new rules apply to recurring payments via debit and credit cards, UPI, and pre-paid cards.
Despite adopting various technologies like EVM chips, signature panels, OTPs, security codes, etc., hackers and fraudsters still find new loopholes to manipulate customers. Debit card frauds are one of the most viral issues encountered by innocent customers.
Skimming devices in PoS machines, phishing emails, fraudulent refund calls, etc. are some common debit card frauds that one must remain extremely vigilant about.
Scamsters are constantly upgrading their notorious plans to fool banking customers. Thus, it becomes utmost important for you to ensure the safety of your debit cards and bank accounts.
First things first. If your debit card is stolen or lost, get it freezed/blocked immeditely. In fact, don’t hesitate to file a police complaint in case you smell mischief.
Banks were of the view that cash availability will drop as they go deeper in rural geographies as the cost to set up and maintain ATMs is high.
Therefore, it’s best to use a bank linked ATM to deposit or withdraw cash at any given point. Such ATMs are comparatively safe and one can even register a complain with the bank if there’s an issue with the card or machine.
Free internet attracts most people. Fraudsters are well aware of this fact. It seems easy to switch to public WiFi, especially in shopping malls, cab rides, railway station or airports.
While using open internet, never log into your bank account or make any financial transaction whatsoever. It’s the easiest way for scamsters to extract your bank details.
The banking industry is adopting better technology to ease customer service. But customers should also adapt the above mentioned practises to avoid falling prey to such frauds. Only such combined effort can keep your money secure with the banks you trust the most.
