Keep This Mind When Before Making Online Payment
Online Payment :- Know these four things before making online payment, otherwise you can also be a victim of fraud
Unified Payment Interface (UPI) is expanding its footprint in the world including India. Digital money transfer is done through UPI. This allows customers to transfer money within seconds. According to media reports, the number of money transactions through UPI has crossed one billion. Its users in India have crossed 10 million.
Increase in Digital Transactions Online Payment
In the last few years, the trend of digital transactions in India has increased a lot. Everything from household food items to expensive smartphones is being paid online. There are also cases of online fraud. So it is important that we know how to fraud online and how to avoid it.
How is Fraud
Banks are also taking several steps in view of the increasing online fraud in the country. Under this, the bank gives a message or email to its customers to inform about every transaction. Refuses to share OTP or PIN with anyone. It is advisable not to share confidential information related to the bank with anyone. If this happens, the fraudsters create a Mobile Payment Banking Identification Number (MPIN) by creating the ID of the Virtual Payment Address (VPA), which allows users to transact money from their accounts.
Do Not Click on Phishing Email
A phishing attack is the oldest and easiest method for cyber attack. E-mail IDs are also hacked into phishing attacks. For this, hackers send fake and similar e-mails in the name of your friends which contain links to the virus. To avoid fraud, you should never click on a phishing email and always choose the option of one time password (OTP) in online payment. This can reduce the possibility of fraud. Other Info..
This is How Fraud Occurs Through Card Cloning
Counterfeiters gain access to your ATM card through card cloning. After this, cheating you is not a big deal for them. You need to be careful while using your ATM card. The fraudsters place a machine called a schemer on the ATM machine. This machine is easily available in the market for only seven thousand rupees. When the card is swiped through this machine, its information is copied. It includes all the information associated with your bank account. The fraudsters then transfer this information to a blank card. In this way, fraudsters make another card, which has complete information about your card and then withdraw money from it.
How to Avoid Fraud
1. Never share your debit or credit card number and information related to users,
2. Never share details like OTP because the bank never asks for this information,
3. Do not share your UPI Mobile Personal Banking Identification Number (MPIN) with anyone,
4. Avoid sharing the PIN of the account or any confidential PIN associated with it.