Banking scams are one of the serious problems nowadays in India, as we are rapidly growing our digitalized lifestyle. Financial inclusion is getting high priority and digital mode of doing stuff is rising. But the education, awareness and knowledge aren’t showing that much pace.
Ease of availability of smart phone and internet leads many people to use modern technologies and fast solutions of various traditional official works. This includes payment processes too. Attractive interface with simple steps of the official portals engage many people to use them, where a lot of the users are very innocent, simple and easy to be cheated. Complications come when the simple minded people meet scammers, who misuse the simplicity of the system as well as the users to simply empty their bank accounts.
These are happening in different ways. Bad people are inventing brad new ideas to target your hard-earned money. To avoid being scammed, you have to know the ways they can scam you and what you should do in such situations.
• Fake Bank Calls
This is a very common way to brainwash innocent people to steal their money. You get a call from scammers pretending to be any random bank, which you may or may not have an account in. They can try to make you worried and hurried to save your ATM or account from getting freeze. They can give you some instructions to follow and then ask you the account details, password or OTP they send. In these cases, always remember, don’t follow whatever they tell you to do. Contact your bank directly, if you want to be sure.
• Fake Bank SMS
Similar things are done through SMS too. Remember that authentic banking SMS are sent from encrypted alphabetic or alphanumeric numbers, not from normal mobile numbers. They may send you a link to fix your bank account related problems. Never click any unknown link before knowing well.
• Fake Offers
There is a plenty of fake offers that can pop up in any platform you use. Those can be lucrative and interesting. Sometimes they are going to reward you directly or sometimes through a stupid quiz game or by sending the link to 10 others. Don’t get tempted and just ignore these things. If you’re really interested, check it well before you click in. Again, after clicking that link, if you are asked to share your bank details or OTP, you know what to do. Yes, stop there.
• Fake Service Providing
You can get a call saying that there’s a problem in your account of a platform you may or may not use. Or they appear to be solving your complaints against a company. And then they would ask you to download any remote access and control software like Team Viewer or Any Desk and do whatever they instruct. Thus you give them to access and control your device with a hope of getting authentic service. They may ask you to put your payment app password and other private details, which can be seen from their device. And after you share your personal details to them, anything can happen. Always remember that an authentic service provider won’t ask you for these. So don’t fall into the trap.
• Scams in Banks
Suppose you’re going to bank to open an account or with any other works. But in the bank, you are told that you must get an insurance policy from them to get the service that you want. Strange, isn’t it? You don’t need an insurance and there is no relation between the service you want and an insurance policy. Yes, this can happen. Always remember, banks are not there to sell insurance. If they do so, they’re cross-selling some third party products. Check if the products are mandatory to purchase or not. If not, then you can’t be forced to take it to get your work done. Tell them, that you are going to complain in the RBI ombudsman. Believe me, no banker would like to mess with you then. Anyway, it’s good for you to know the process to file a complaint in the RBI ombudsman. But most of the time, you won’t have to face such things in a bank, but it’s good to be prepared.
Scams can come in any form in any time. But you have to be aware and prepared. Take time and know about almost every possible details about these. And the ways to not to fall in their trap and if fallen, how to get out of it. Do you know any other forms of scams that are happening nowadays? Please let us and everyone know in the comments.
