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Do's and Dont's of Internet Banking

We are all now so much comfortable doing online transactions that even to do a mobile recharge of Rs100  we try doing it online, most of us feel smart doing the same, But I was surprised to hear that one of my friend who is into blogging had experienced a online fraud for Rs 55000/- , He is a techie  and still was a victim of online fraud, I felt it is very much necessary to know about how online fraud takes place and found that there are more than 10 different ways to get cheated online

Phising Email asking you to update account information 
Some of you may receive email from someone claiming themselves to be a bank representative asking you to update your account information, They provide you with a click through link which directs you to a duplicate banking website which will grab all your info like customer id, password and they transfer amount from your bank account immediately,Never Respond to such emails, Bank Authorities never ask you for your login details and passwords "

Phone Call from false mobile banking officer
Phone call from a fraudster pretending to be your phone banking officer asks you for verification and gets your details like login and pin so that he gets access to your Internet banking and commits fraud. "So never tell anyone your login id and password at any cost on phone also "

Your sim is blocked and the culprit gets a duplicate sim
This Guy gets information about you like, your name, your bank ac/c no and login id details and then go to your mobile network service provider and requests for a duplicate sim claiming he has lost his simcard and manages to get a sim card and gets access to your account with the help of One Time Password (OTP) and empties your bank account with in no time. "If you sim is blocked contact your network provider or bank for help"

Free Softwares can steal your information
Did you ever think why Internet is filled with free softwares, you should understand many of these free softwares or games when downloaded can catch your personal confidential information and sends it across, "Think twice before using free softwares they can softly steal your information"

internet banking security

Skimming of your Credit or Debit cards
This happens generally in big shopping malls and atm outlets where you hand over your credit card or debit card to swipe it on the swiping machine where your information is captured and misused, "Ensure you use your cards in known shopping malls and also see if the shopkeeper keeps the swiping machine open" 

Online Shopping websites
Amazon, Flipkart, jabong, ebay, homeshop and many more websites had made it easy for us to shop online, Noticing this Fraudsters have designed online shopping websites which offer abnormal discounts or sell products at unbelievably low price, Rule of thumb is no one can sell a genuine product at a discount more than 15-20% also check for in address bar for https before you make a payment 

Links on Facebook or Google plus leading to wrong places
Now a days social media has become very powerful, So online fraudsters are using facebook, google plus or twitter to generate interest promising free greeting cards or gifts for responding to a survey wherein questions regarding your sensitive personal information is gathered and used for committing fraud against your bank account . " Never respond and also advice your friends not to respond "

Here is one incident that happened to businessman in mumbai who was victim of internet banking fraud for rs 16 lakhs


  1. Access your Bank Account by typing url in address bar instead of using search engine.
  2. look for https in your address bar before entering your login and password details.
  3. look for padlock icon in the address bar.
  4. Do not assign same passwords for all your online accounts like facebook, gmail, yahoo and your bank accounts.
  5. Never tell your password or user id to anyone .
  6. Monitor your bank account frequently to check any suspicious activity.
  7. Register your mobile number and set to receive alerts when your account gets debited.
  8. Take caution while registering at dating sites which ask you to enter credit card information and by default the auto renewal option is on, you should check to ensure the auto renewal feature is off.

Do's and Dont's of Internet Banking Reviewed by Gowardhan on 2/16/2013 10:37:00 PM Rating: 5

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