No matter how careful you are, there are chances of getting cheated by fraudsters. Many people in India are victims of online fraud. After demonetization, many citizens got included in the formal banking system. As people engage in online banking, (internet and mobile banking), chances of falling prey to online fraud increase.
Can you get money back on being cheated by fraudsters? In the past, banks put the onus on you to prove online banking fraud. RBI has come out with guidelines which state that banks will have to make do the entire loss, if the customer notifies them on the online banking fraud. The aim of this move was to make sure innocent victims who fell prey to fraudsters, would not lose money.
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Studies have shown that around 25% of customers in India experience online fraud. This means one in four Indians are cheated by online fraud. What is online banking fraud? These are frauds related to credit cards and debit cards where fraudsters get personal and financial details like bank account numbers, card numbers, CVV and even OTP on mobile phone shared by gullible customers.
You have phishing where fraudsters send emails pretending to be from banks and ask you to reveal banking details like internet banking passwords, mobile banking passwords, CVV and credit card numbers. You have vishing where fraudsters cheat customers by making phone calls supposedly from the bank and ask for personal financial details like bank details and credit card numbers over the phone.
Reviews by IndianMoney tell you never to disclose personal banking details, financial details, bank account numbers, credit and debit card numbers, CVV or OTP to anyone over the phone or email even if they are from your bank. This will keep you safe from online fraud. Divulging this information will make you a victim of cheats and scammers.
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