MUMBAI: Nudged through the Reserve Bank of India (RBI) and the federal government, banks are making an all-out effort to extend public consciousness to test the upward thrust of on-line fraudsters. With virtual transactions changing into more effective and mainstream, fraudsters are discovering gullible accountholders a comfortable goal. Bankers say that virtual transactions are protected. However, fraudsters use self assurance tips to get shoppers to both divulge their credentials or reply to a accumulate request through passing it off as fee.
According to Biju Okay, senior vice-president and leader vigilance officer, Federal Bank, the personal lender makes use of a 3P type to battle this. “We are constantly engaging with our clients via digital/print/other media to educate them about cyber frauds and safe banking techniques. The common man ad in TOI would be an example. Procedures: We have implemented industry best safety practices that can contain fraudulent activities at a core system level. Planning: Within the protean digital ecosystem that we operate, we have to constantly plan ahead for new vulnerabilities that may emerge. We have an expert team, on their toes, planning for any such contingencies,” he stated .
The RBI has been at the leading edge of the marketing campaign having roped in Bollywood celebrities, sportspersons or even caricature characters to lift consciousness on problems akin to now not polishing OTP and the frauds the place shoppers are requested to replace KYC or instructed they have got received a lottery which they have got now not participated in.
ICICI Bank, the second one biggest personal lender has stepped up beef up for seminars and workshops which can be arranged through the legislation implementing companies of the rustic. According to Anish Madhavan, head, monetary crime prevention, the financial institution has additionally taken steps to make certain that although shoppers are duped there’s a 2d stage of coverage. “ICICI Bank has secure and robust digital banking channels – internet banking platform and the mobile banking app, iMobile Pay – which are secured within a firewall with state-of-the-art intrusion detection systems. Further, we have leveraged technology to prevent cyber frauds and scams. For instance, we have introduced a feature in iMobile Pay that disallows any screen sharing app from viewing its screens,” he stated.
HDFC Bank leader data safety officer Sameer Ratolikar stated, “Fraudsters are increasingly adopting social engineering tactics to steal money from customers’ bank accounts. On the pretext of offering certain services or promising help, the fraudsters are luring customers into sharing their PINs, OTPs, passwords, and other confidential banking information with them. Hence, there is a need to educate customers on safe banking habits and make them aware of the various modus operandi used by fraudsters.”
According to Biju Okay, senior vice-president and leader vigilance officer, Federal Bank, the personal lender makes use of a 3P type to battle this. “We are constantly engaging with our clients via digital/print/other media to educate them about cyber frauds and safe banking techniques. The common man ad in TOI would be an example. Procedures: We have implemented industry best safety practices that can contain fraudulent activities at a core system level. Planning: Within the protean digital ecosystem that we operate, we have to constantly plan ahead for new vulnerabilities that may emerge. We have an expert team, on their toes, planning for any such contingencies,” he stated .
The RBI has been at the leading edge of the marketing campaign having roped in Bollywood celebrities, sportspersons or even caricature characters to lift consciousness on problems akin to now not polishing OTP and the frauds the place shoppers are requested to replace KYC or instructed they have got received a lottery which they have got now not participated in.
ICICI Bank, the second one biggest personal lender has stepped up beef up for seminars and workshops which can be arranged through the legislation implementing companies of the rustic. According to Anish Madhavan, head, monetary crime prevention, the financial institution has additionally taken steps to make certain that although shoppers are duped there’s a 2d stage of coverage. “ICICI Bank has secure and robust digital banking channels – internet banking platform and the mobile banking app, iMobile Pay – which are secured within a firewall with state-of-the-art intrusion detection systems. Further, we have leveraged technology to prevent cyber frauds and scams. For instance, we have introduced a feature in iMobile Pay that disallows any screen sharing app from viewing its screens,” he stated.
HDFC Bank leader data safety officer Sameer Ratolikar stated, “Fraudsters are increasingly adopting social engineering tactics to steal money from customers’ bank accounts. On the pretext of offering certain services or promising help, the fraudsters are luring customers into sharing their PINs, OTPs, passwords, and other confidential banking information with them. Hence, there is a need to educate customers on safe banking habits and make them aware of the various modus operandi used by fraudsters.”
