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Tips to Protect Yourself From Online Banking Fraud

Gone are the days when we used to stand in long queues at the bank to do any banking transactions. Because of technological advancements, gaining access to banking services no longer necessitates a significant amount of effort. From online shopping to making payments, digital banking has become our best friend. Although technology has made banking easier for us, it has also increased the chances of online banking fraud manifold. Therefore, it is important for you to understand how to protect yourself from such dangers.

Here are seven tips to protect yourself from online banking fraud:

1. Use only verified apps or websites for online banking

It is always advised to use secure and verified apps or websites for any monetary transactions online. The use of any unauthorized app or website may lead to online banking fraud. Protect Yourself From Online Banking Fraud. Hence, always access genuine apps or websites that make transactions easy and secure. Its two-factor authentication with an additional third layer of security—Airtel Safe Pay—ensures that no money is deducted from your account without your consent.

2. Change your password frequently

If you want to keep yourself safe from potential hackers, you should update your password at least every two to three months. On top of that, whenever you update your password, always set a strong password that includes at least eight characters—a mix of uppercase and lowercase letters, numbers, and special characters. Protect Yourself From Online Banking Fraud, and it goes without saying that you should not share your password with anyone.

3. Be sure to only use secure internet connections

If we get free internet, we’ll use it! And in popular public places, people use the free Internet provided for all kinds of things, including banking or making payments. No matter how exciting it may sound, having free internet access, which can be unsafe, can prove to be a major threat to your sensitive banking information. So, always sign up with a secure internet connection when playing online. Protect Yourself From Online Banking Fraud, be sure to protect your home wireless Internet connection with a strong password.

4. Never conduct online banking on a public computer

You should avoid using public computers for online banking if at all possible. Using a public tool puts your banking details at greater risk, and a hacker can easily get hold of your secure information, which can lead to the problem of losing the money in your bank account. So, make it a golden rule in life to never use public computers for online banking and avoid the hustle and bustle of dealing with fraud.

5. Use Your Debit or Credit Card With Extreme Caution

Multiple instances of card fraud have been reported in the name of providing travel benefits, packages, and much more. If you lose your card, report it and get it blocked by the bank immediately. To protect Yourself From Online Banking Fraud, never share your credit or debit card details with any unknown calls or messages. Furthermore, all transactions must be completed on the same POS machine.

6. Don’t fall prey to phishing or vishing scams

You may have received emails, calls, or messages that try to trick you into disclosing your financial information. The con artist may pose as a bank employee in order to check your bank data or OTP in the name of cashback, rewards, or something similar. If they have obtained the necessary information, they will be able to access your bank account without your knowledge. As a result, you should avoid clicking on or responding to any suspicious links or phone calls, as doing so could aid cybercriminals in gaining control of your bank account.

7. Protect Your Computer

With the increasing number of cyber attacks, it is essential to install antivirus software on your personal computer. It’s not only necessary to install antivirus software on your computer but also to update and enable it regularly. This helps in dealing with any threats and malicious activities that could put your sensitive information and Protect Yourself From Online Banking Fraud.

Conclusion

Considering that hackers can pose a threat to your online banking experience in every way possible, it is essential to improve them and learn how to prevent them. Protect Yourself From Online Banking Fraud, now is the time to be smart with your transaction options for a better and safer digital environment.

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