Banking has become an essential constituent of the digital world. The modern trends in the banking and related sectors are revolutionary. The emerging trends not only provides secure transactions but also offers good customer service levels. When banking goes online, some threats also arise from hackers, spammers and fraudsters.
Banking sector deals with potential savings of the customer. The daily transactions through a bank vary from a few thousand to billion. Hence the sector is targeted by hackers, spammers, and fraudsters. The major threats are rises by phone spammers, who calls the bank account holders and steals their confidential credentials. Second are the hackers who steal all the information from the customer database. They have countless ways to exploit the unsecured bank accounts using OTP passwords. Fraudsters are the final end threats, they pose as bank officials and collect the information from the customer site. Fraudsters even approach you in the ATMs, Shopping Malls etc.
First things first
The prime step starts from choosing the best banking institution available in the market. Consider consulting your friends, relatives or acquaintances for choosing a bank. After the successful selection of the desired bank, update KYC documents, active phone number, and address to the account. KYC documents include – Voters ID, Pan card, Aadhar card, Driving License. Updation of these documents ensure the authenticity of the account. Providing active mobile number helps you to get message notifications on – Active balance, ATM usage, Amount credited/debited to your account and unauthorized account accessing attempts. Download the official banking apps from play store other than other browsers.
Golden rules to protect your bank account
1. Never reveal your confidential credentials such as ATM card number, CCV, ATM PIN to anyone including bank officials.
2. Use official banking apps and sites within trusted networks, Never use shared or untrusted sites for bank transactions.
3. While using online platforms use different passwords for login and transactions. Most importantly sign out properly after usage.
4. Periodically change your banking / ATM Card passwords to ensure Safety.
5. Do NOT install untrusted third-party applications which require additional permit requirements.
6. In case of ATM card loss, inform your bank to block the card from potential threats from fraudsters.
7. Keep track of your transactions weekly / Monthly, look for any suspicious activities.
8. While shopping asks the cashier/billing staff to provide E-POS terminal yourself other than providing the card to them.
9. Never share your KYC document details through any media including social media platforms.
10. Set mobile alerts to your active mobile number, in case of suspicious security alerts or activities, report to the bank and the police.