Beware of fake mobile banking, digital payment Apps

Many banks have been regularly educating their customers from time to time to make them aware of various types of online frauds. Cyber crimes, phishing and hacking can result in bank accounts getting compromised and customers may lose money due to fraudulent transactions. HDFC Bank, for instance, has recently advised its customer through a social media post to enable the app-lock feature on the payment and mobile banking apps to avoid unauthorized assess and to safeguard their hard-earned money from fraudsters. It is suggested that the customers only interact with the bank officials directly  to safeguard the customers’ hard-earned money from fraudsters.

Various fake banking apps have emerged, which fool bank customers and steal their data. Many of these apps lured victims into downloading these apps and using them. These App may appear to be the bank’s official app but may turn out to be a fake app. Just because an app is in the official store of Google or Apple doesn’t mean it is legitimate. These fake apps disguise themselves as internet banking apps or electronic wallets, with the same design and colors of the actual apps, wherein customers are not able to distinguish between real and fake apps. Customers are tricked by scamsters into installing fake apps that steal their personal and financial data.In its recent social media post, HDFC Bank has posted 8 guidelines for complete cybersecurity for its customers.

Here are 8 ways to stay a step ahead of fraudsters:

  1. Never allow strangers to guide you into installing ‘AnyDesk’ or any similar apps.
  2. Enable the app-lock feature on your payment and mobile banking apps
  3. Avoid forwarding any SMS advised by unknown callers.
  4. Disconnect suspicious fraudulent calls immediately.
  5. Customer service numbers found through any search engines (Google) may be unreliable.
  6. Do not share your banking passwords or store them on your mobile.
  7. Do not share sensitive information on the call, EVER.
  8. Avoid any ‘Collect Request’ transaction on your UPI app from an unknown caller.

Apart from the above, whenever you install a banking App from Google Store or Apple store, first check for the owner of the App. Click on the ‘Read more’ on the App information page to find out whether the App is owned by the bank. You may also find official contact mail id with the bank’s domain.

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