Banking cyber fraud: Know how to save yourself from getting scammed online


Banking cyber fraud: Know how to save yourself from getting scammed online

Cyber crime is becoming too complex in India and it may impact any of the online users, writes Aziz Ahmad

Cyber banking frauds are very common now where fraudsters can capture banking data through illegal source and use that information for fraud transaction. The illegal source includes such as skimming, phishing, fraud call etc.

Once the data is stolen, fraud transaction can be done in a minute. But the question is: Can the fraud transaction be credited back to the account? The answer to this question is so complicated where law and RBI state that it should be credited back by so and so days, but the actual ground reality is different.

The first problem comes about the jurisdiction of the crime. For example customer is in one country and fraud happens in some other country. Later country may say it a legal case and former as illegal. So, where to file complaint or FIR?

However, the crime of cyber space is termed as global and complaint or FIR can be filed anywhere but the actual scenario is different where Police Station may or may not accept complaint or FIR due to not having much expertise of IT/Cyber law.

So, what’s the precautionary measure to be taken so that fraud should not happen?

At least have two accounts and don’t activate online banking and don’t issue ATM/debit card as well and save maximum money on this account. This will protect theft of online data. And even if fraud happens through cheque book, it will happen only in India and not outside the country.

Other account can be used as online/ATM/debit card for daily use with having minimum money in it.

Deactivate International use of Account.

Once you withdraw money, block it temporarily.

This facility is available in some of the banks.