With so many users making the jump to internet banking, it's no wonder that online banking fraud is on the increase.
It became necessary to take preventative measures to protect yourself against malicious actors, who use different methods to infiltrate users.
Read on to learn how you to protect yourself against hackers:
Spoof SMS
Fake SMS is sent about discounts on online purchases, as this fraud is related to online shopping, thus, the recipient receives an SMS in the context of online shopping.
They are asked to share confidential details such as network card details, ATM card identification number, UPI identification number, debit card number, and CVV.
Malware
In this method, the scammers install malware or spyware using a chip embedded inside a USB charger provided at a public charging station, which allows it to copy your sensitive data and or infect phones with malware when connected.
Fake customer service call
The recipient receives a call from someone claiming to be from the banking customer service and is asked about details of financial transactions such as OTPs or the user ID on their registered mobile phone number.
The malicious actor then forwards the activation messages on the user's phone, which is later used to gain access to their bank account.
Hacking applications
In this method, malicious actors request from the recipient the installation of application support tools such as TeamViewer, Quick Support and Any Desk, which can give them full access to your phone.
Smishing
Malicious actors send a malicious link via SMS or emails that ask the recipient to share their confidential details such as grid card details, ATM card PIN, UPI PIN, debit card number, and CVV.
In this method, malicious actors lure the recipient through WhatsApp with fake offers of online shopping discounts in an attempt to get people to share their online banking details.
Follow the latest news on Google News
