How not to get cheated like Punjab CM's wife Preneet Kaur2 min read . Updated: 08 Aug 2019, 03:33 PM IST
- No bank will ever ask you to read out your card details for verification or renewal over a phone call
- As a rule, never share your card ATM PIN, CVV number or OTP
Member of Parliament and Punjab chief minister Amrinder Singh’s wife Preneet Kaur recently got tricked into revealing confidential details to a fraudster and losing ₹23 lakh, according to news reports.
Recently, when Kaur was in Delhi to attend Parliament, she received a call from a fraudster posing as an employee of a nationalised bank. He told her he needed some details about her bank account to deposit her salary for the month. Soon after, the fraudster managed to get Kaur’s account number, ATM card details and one-time password (OTP). It was only when she received an SMS from the bank mentioning that ₹23 lakh had been debited from her account that Kaur realised that she had been swindled.
Though the police managed to catch the crooks in Kaur’s case, it’s not always that easy. While the government is pushing for digitization and paperless transactions, cyber crime is on the rise, and you ought to be careful. Here are some tips to ensure you don’t fall prey to such frauds.
Things to keep in mind
Remember that no bank will ever ask you to read out your card details for verification or renewal over a phone call. As a rule, never share your card ATM PIN, CVV number or OTP. Once your card details are compromised, then your bank account can be emptied in no time.
“While banks need your account number and name to verify you, no bank will ever ask you for your ATM PIN or the CVV number. So any time you are asked to provide these, it should be a red flag. It would be best to disconnect the call and reach out to the bank directly via their website asking for clarifications. Bear in mind that this is applicable even if you have lost your credit or debit card," said Navin Chandani, chief business officer, Bankbazaar.
In case you’re making a booking through a phone call, say, for movie tickets, remember that you will be asked to punch in your card details on the phone keypad. If the operator asks you to read out the details, you are in for trouble so never fall prey to such demands.
If you receive SMSes from random numbers which look different or contain encrypted text with links, do not get tempted to click on them. These could be used to corrupt your phone to steal data from it. Always use your discretion while clicking on links received by unknown numbers. “Do not click on any random links that you receive via SMS or email asking you to ‘verify’ your card. Your card is already verified by the bank. Use only the bank website to get contact details for the bank and use secure means to contact them in case of problems," said Chandani.
If you are asked to forward messages that contain an OTP, don’t give in because an OTP is meant for securing your transaction. Giving it to somebody else could help them divert your transactions for their benefit.