How to Keep your Identity Secure - Banking Fraud Awareness
More Than 12000 Cases Of Bank Fraud Detected In The Last 3 years
Financial consumer protection: internet banking fraud awareness by the banking ..
banking fraud cases have declined, but amount of money lost has increased in ..... Frauds also result from lack of awareness of staff towards appropriate
Advancements in Information Technology have revolutionized customers banking experience. Banks are offering services through electronic media like Internet / Mobile Banking, ATM etc. to provide rich user experience without need to visit Bank. Fraudsters are also effectively using these mediums to commit financial frauds. It is important for banking customers to be aware of financial frauds and ways to protect them against it.
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Bank frauds numbers may not be startling, but the way they are reported is. In a staggering revelation indicating that Indian banks have been under-reporting frauds, the Reserve Bank of India has revealed that 90.6 percent of the frauds reported by banks in 2018-19 occurred between 2000 to 2018.
Data released by the banking regulator in its latest edition of the Financial Stability Report, suggests that nearly 40 percent of the under-reported frauds actually took place in three years between 2013 to 2016.
Bank frauds numbers may not be startling, but the way they are reported is. In a staggering revelation indicating that Indian banks have been under-reporting frauds, the Reserve Bank of India has revealed that 90.6 percent of the frauds reported by banks in 2018-19 occurred between 2000 to 2018.
Data released by the banking regulator in its latest edition of the Financial Stability Report, suggests that nearly 40 percent of the under-reported frauds actually took place in three years between 2013 to 2016.
Any person who is having a savings account with any bank should follow the following precautions:
Do not give your pass book to any body
Keep your cheque book in a safe place
In the case of debit card, do not disclose your PIN number or CVV number to anybody. While you are doing online transactions, do the transactions with reputed and protected websites only
In the case of internet banking do not disclose your password to anybody.
In the case of debit cards, change your PIN number at least once a month. Diarise the PIN number in your mobile like this (Your PIN number: 2165; Your area STD code - 044 and now the number to be recorded in the mobile is 044 44092165, where the last four digits represent your PIN number and save this number in your mobile with a dummy name like - Banerji and at any point of time, you can browse Banerji and find the PIN number)
Watch this Video to Know more about bank fraud
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How to Keep your Identity Secure - Banking Fraud Awareness
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