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SACHET BANKING/JAAGRUK BANKING:

Awareness is the foundation of safety. When it comes to the financial transactions, safety and security is important to avoid any case of cheating or manipulation/exploitation. As a banker, our topmost priority is to safeguard your information and financial security. We are dedicated to make it happen and also motivate you to be SACHET and have an experience which is safe as well as secured.

Our focus is to educate our customers about increasing techniques being attempted by fraudsters/imposters and their preventive measures. An aware customer not just helps himself from being caught in these swindle, they also help us in our efforts of providing a safe and secured environment.

Disclaimer: Information mentioned in these sections is for awareness purpose only, and shall not be considered as any legal advice.

General Guidelines

Password security:
  • Create at least an 8 character long password including numbers, special character and upper/lower cases.
  • Use different passwords for different accounts
  • If it is hard to remember a password, switch to passphrase
  • Change your passwords regularly
  • Never share your passwords
Online banking
  • Login to your e- banking account only via official website of bank.
  • Don’t use public wi-fi and computer for online banking
  • Don’t use public wi-fi and computer for online banking
  • Use a mix of letters, numbers and symbols as your password.
E-Mail security
  • Never respond to unverified or unidentified mails also the ones having any attachment
  • If you feel you have received any email which claims to be from us but looks suspicious, immediately report to (provide any mail or toll free no)
Mobile banking
  • Research any application (app) before downloading it. Just because the name of an app resembles the name of the bank, don’t assume it is the official bank’s app
  • If you change your mobile number, immediately contact us to change the details of your mobile banking profile. You should also take additional precautions in case your device is lost or stolen.
ATM Banking
  • Change the pin after receiving the new card from the bank.
  • Don’t write/share your PIN, CVV, OTP
  • Change your PIN at regular intervals
Awareness By RBI
  • Foreword for a booklet by the Office of the RBI Ombudsman, Mumbai-II, to raise awareness about financial fraud.
  • The booklet, “Raju and the Forty Thieves,” uses illustrated stories to depict 40 common fraud scenarios.
  • Each story features Raju, who falls prey to different types of fraud, with advice on avoiding such situations.
Download PDF

Types of attacks & Safety Measures

1. PHISHING

How the Scam Happens

  • Genuine websites of banks, e-commerce, even search engines are cloned into fake replicas.
  • Fraudulent links are circulated via SMSs, Social Media, Emails or other Messengers
  • Fake URLs are masked behind authentic-looking names while Phishing Websites appear exact replica of a genuine one.
  • If an individual clicks on such fake link and enters credentials, this information is then available to the phisher / scamster.

Precautions

  • Verify websites especially when it asks for financial credentials. A secure website should start with "https://" where 's' stands for secure.
  • Never click unknown links received through SMS, emails, and other instant messengers.
  • Immediately delete suspicious SMS/email to avoid even accidental future use.

VISHING

How the Scam Happens

  • Imposters connect with individuals through telephone or social media as bankers/ company executives/ insurance agents/ government officials, etc., and seek confirmation of the secure credentials by sharing details like name or date of birth to gain confidence.
  • Imposters, then, pressurized or trick individuals into urgently sharing confidential details citing some emergency - block transaction, stop penalty, attractive discount, etc.
  • These credentials are then used to defraud the individuals.

Precautions

  • Bank officials never ask customers to share confidential information such as username/ password/ card details/ CVV/ OTP. Hence, never share the same with anyone.

SIM SWAP ATTACK

How the Scam Happens

  • Fraudster tries to gain access to individual's SIM card/ details of the SIM card as most of the account details & authentication is connected to the registered mobile number.
  • Using the SIM swap technique, the attacker gathers personal information by practices such as phishing, vishing, smishing, and more, to get a new sim card issued in the same individual's name.
  • Attacker uses this sim card, to conduct fraudulent transactions from the individual's bank accounts.

Precautions

  • Don’t share any personal or confidential details with a stranger.
  • Never share the number mentioned on the reverse of your SIM card.
  • Be cautious while sharing your phone number on social media or any other website.
  • Never neglect any SMS sent by the mobile service operator regarding any SIM Swap request.
  • Check your bank account notification and statements regularly and report any inconsistent transaction or activity.

SMS HING ( SMS / Email / Instant Messaging / Call Scam)

How the Scam Happens

  • Fraudsters circulate fake messages in Instant messenger/ SMS /social media offering attractive loans, using name of bank / financing agency to gain confidence.
  • Fraudsters pressurized trick individuals applying for loans into urgently sharing confidential details or directly demand various charges citing some emergency - block transaction, stop penalty, attractive discount, etc.
  • These confidential details are then used to defraud the customers.

Precautions

  • Never click on links received from unknown/unverified sources.
  • If you receive a code from the bank, even when you haven't requested for PIN change, or any other service,
  • Report to ........................ or call our 24*7 Toll Free no. ...............

QRCODEFRAUDS

How the Scam Happens

  • Fraudster contacts individuals under some pretext like providing a refund or cash back.
  • Fraudster tricks individuals into scanning QR Code to receive a refund or cash back.
  • Fraudster withdraws money from customer's account.

Precautions

  • Be cautious while scanning any QR codes using payment apps. QR codes have embedded account details in them to transfer amounts to a particular account.
  • Scanning of QR codes if for payment of money and never for receiving money.
  • Enter your UPI PIN only in your UPI app while paying through trusted application.
  • Set pin / pattern / password / biometric lock to your UPI application & never share your secret UPI PIN.

ATM CARD SKIMMING

How the Scam Happens

  • Fraudsters install skimming devices in ATM machines & steal data from individuals' card.
  • Fraudsters steal PINs by installing a dummy keypad or hiding a small pinhole camera near the keypad
  • Pretending to be another customer, the fraudster could stand behind the individual and gain access to your PIN as you enter it.
  • Fraudsters use this data to create a duplicate card and withdraw money from the individual's accounts.

Precautions

  • Verify that there is no extra device attached near card insertion slot or keypad of ATM machine while making a transaction.
  • Cover the keypad while entering PIN.
  • Never enter the PIN in presence of any other person standing close to you or share the card with anyone.

IMPERSONATING THROUGH SOCIALMEDIA

How the Scam Happens

  • Fraudsters create fake account of a real individual on popular social media platforms like Face book and Instagram. They send a request to individual's friends asking for money for urgent medical purposes, payments, etc.
  • Fraudsters also gain trust over a period of time and use the private information for extortion or blackmail later.

Precautions

  • Do not make payments to unknown person.
  • Do not share personal and confidential information on social media platforms.
  • Always verify genuineness of fund request with the friend / relative or confirm by a phone call / physical meeting to be sure that the profile is not impersonated.

FRAUDS USING ONLINE SELLING PLATFORMS

How the Scam Happens

  • Fraudsters pretend to be sellers on online platforms & sell latest products with attractive prices and luring offers.
  • When an individual pays online for such product, either no productis delivered or a different product is delivered like soap/a toothbrush which was never ordered.

Precautions

  • One should be careful while making financial transactions for online products.
  • Do not fall prey to limited offers or if the offer is too good to be true as it could be a scam.

FAKELOAN WEBSITES APP

How the Scam Happens

  • Fraudsters advertise attractive Instant Loans offers for a limited period on unscrupulous Loan apps/ websites.
  • Loan Seekers are asked to make urgent decisions using scare ware tactics.
  • Loan seekers are asked their confidential personal information and duped with money/ significantly higher interest rates.

Precautions

  • Check for the authenticity of the money lender and money lending application.
  • Proceed with the loan application only after getting the genuine address & contact info.
  • Never make payments without processing your loan application.

MONEYMULE

How the Scam Happens

  • Cyber fraudster contacts individuals through emails/job websites/blogs and convince the individuals to receive money into bank accounts in exchange for attractive commissions.
  • The fraudster then transfers illegal money into the account of the money mule.
  • The money mule is directed to transfer money into the account of another money mule. This creates a chain that ultimately leads to the money getting transferred to the fraudster's account.
  • When such incidents are reported, the money mule becomes the prime target of police investigations, due to involvement.

Precautions

  • Never respond to messages that promise lucrative opportunities in the form of jobs, commissions, or lottery.
  • Always monitor your Bank account for any suspicious withdrawals or deposits.
  • Note that even if you have nothing to do with the actual theft of funds from the bank account of another person, allowing your account to be used for such movement of funds is illegal and is considered against security best practices.

FRAUD BYREMOTE ACCESS

How the Scam Happens

  • Fraudsters trick an individual to download screen sharing apps through which they can watch / control your mobile / laptop to gain access to your financial credentials.
  • Later fraudsters make payments using your Internet banking / payment apps.

Precautions

  • Never download apps from unverified sources.
  • Only install screen sharing applications like Any desk/Team Viewer etc. when they are required.

FRAUDULENT LOANS WITH FORGED DOCUMENTS

How the Scam Happens

  • Fraudsters pretend to be Bank employee to individuals seeking financial services and acquire KYC documents and other personal info like id cards, bank details, etc.
  • Fraudsters use this information to do identity theft and avail fraud loan/ benefits from a financial institution.

Precautions

  • Be vigilant while providing KYC and other personal documents including NACH form post, pre, or during the disbursement of loans from any entity.
  • Share personal documents only with the entity's authorized personnel or authorized email IDs of the entity.
  • Request purging of documents on non-sanction of loan or even post closure.

JUICE JACKING

How the Scam Happens

  • Attackers install malware into individuals' mobile phones when they charge mobile phones or any other smart device using compromised charging port of bus stop / railway station / airports, etc.
  • Attackers, then, gain access to sensitive data including contact details, emails, personal messages, photos, videos, and financial credentials.
  • These details are then used to carry out the fraudulent transactions by attackers.

Precautions

  • Avoid charging phones or other devices containing sensitive details at public charging points. Rather keep your devices fully charged before traveling or use personal power banks.
  • If unavoidable, charge the device via public charging points using the cable that can be used only as charging and not a data transfer cable.
  • You may also install an anti-virus solution that protects your smart device from malware and prevents data theft.