Vijaya Bank is spreading cybersecurity awareness about mobile banking by various means.
Friends and family often forward link to apps for you to download. Be careful if you are using mobile banking with the same phone with multiple apps. A new way of banking fraud is occurring for transactions in UPI applications. Remote access is taken of victims phone to carry out the transaction. This can happen with even one time Pin submission. Remember if you give fraudsters your Pin the bank may not pay you for your losses. Loss up-to one lakh is covered via insurance and this will most likely not be valid if you are responsible for giving the banking PIN.
In this post:
How mobile banking fraud occurs
How mobile banking fraud occurs
Fraudster invites victim on a pretext to download an app called ‘AnyDesk’ from Playstore or Appstore. Please remember there are many free apps similar to ‘AnyDesk’ that can give remote access of the device to other users.
The app code (9 digit number) is generated on a victim’s device. The fraudster asks the victim to share. If you share this app code YOU LOSE CONTROL OVER YOUR OWN PHONE.
The fraudster inserts this app code (9 digit number) on his/her own device. He /she will ask the victim to grant certain permissions which are similar to what is required while using other apps. After this, fraudster gains access to a victim’s device.
Then the mobile app credential is phished from the customer and the fraudster carries out transactions through the mobile app already installed on the customer’s device.
The above modus operandi is being used to carry out transactions through any Mobile Banking and Payment related Apps (including UPI, wallets etc.) on any phone.
Kindly take adequate care while installing unknown/not trusted applications in your online transaction devices.
Related: Mobile Banking SBI Cybersecurity awareness
MOBILE BANKING
Mobile Banking – Safety Tips
- Keep your mobile device up-to-date with security patches.
- While installing the application only give minimum required permission to applications
- Do not install the mobile application shared in URL links and mail /WhatsApp, only install the application from the authorized play/app store.
- Do not follow any URL in the message
- Never leave your mobile phone unattended.
- Log out from online mobile banking/UPI application as soon as you have completed your transactions.
- Strictly avoid using unsecured Wi-Fi, public or shared networks
- Password protection of smartphones is very important at various levels.
- Protect your mobile device with a password against unauthorized access.
- Set up a PIN/password that is difficult to crack. Use two-factor authentication
Read about the Jamtara scam that I almost made me a victim but God and my husband intervened.
Disclaimer: Kindly take all banking-related decisions after proper awareness and discussion with a professional. This post is meant to spread awareness and Healthwealthbridge or the author, will not be held responsible for any action you may or may not take. This is information shared from Vijaya bank awareness drive.
Very useful post, Thanks for sharing.