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Q.

How to Prevent Online Banking Frauds?

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9 months

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2 2024-06-04T10:43:12+00:00
There are a few things that I have learned over the years when it comes to keeping my finances secure from scams and frauds. Here is how to prevent online banking frauds using my tips:
  • Create complex passwords that include a mix of letters, numbers, and special characters.
  • Avoid using easily guessable information like birthdays, names, or common words.
  • Use different passwords for different accounts to prevent a single breach from compromising multiple accounts.
  • Enable 2FA for online banking accounts, which adds an extra layer of security by requiring a second form of verification, such as an OTP sent to your mobile device.
  • Be cautious of unsolicited emails, messages, or phone calls asking for personal or banking information.
  • Verify the authenticity of any communication claiming to be from your bank by contacting the bank directly using official contact information.
  • Regularly update your computer, smartphone, and banking apps to protect against security vulnerabilities. Install and maintain reputable antivirus and anti-malware software.
  • Avoid conducting online banking transactions over public or unsecured Wi-Fi networks. Use a Virtual Private Network (VPN) for an added layer of security when accessing online banking services.
  • Frequently review your bank statements and transaction history to detect any unauthorized or suspicious activity.
  • Set up alerts for transactions, which can help you quickly identify and respond to any fraudulent activities.
Apart from the above mentioned precautions, you should also ensure that to prevent prevent online banking fraud you must, Only download banking apps from official app stores (Google Play Store, Apple App Store) and verify the app developer's authenticity. Access online banking services directly through your bank's official website, avoiding links provided in emails or messages. This will ensure online banking fraud prevention. Do not share your banking credentials, OTPs, PINs, or other sensitive information with anyone. Be cautious about the personal information you share on social media, as fraudsters can use this information to guess passwords or security questions. This is how to prevent online banking frauds. Get Up to Rs. 10 Lacs Instantly in Your Bank Account Via NoBroker InstaCash Services Read more How to Identify Home Loan Fraud in India
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