Online banking fraud is a fraud or kind of theft of Cybercrime. Any person using online technology can remove money from a bank account and transfer it to different account. It is possible through techniques like phishing, spamming etc. Internet has become the ground for cybercriminals to commit online crimes like data frauds, thefts and hacking. Criminals are targeting online banking facilities, credit/debit/ATM cards, payment gateways and other net banking techniques to commit illegal transactions. Internet banking is used to check account details, check account statement, bill payment, make purchases, money transfer etc. Generally all users need to provide id and password to secure transaction But, due to some ignorance or mistakes you can easily fall into the trap of cyber criminals.
Most common banking fraud in India:
1.Stolen credit or debit card
2.Cloning of debit or credit cards
3.Stolen PIN number or banking passwords
4.Hacked accounts and mobile apps
5.Stolen CVV and OTP number
Learn the ways to protect yourself from online banking fraud schemes:
1 Try to avoid online banking on public wifi and access it from home PC. Never share password to anyone.
2 Do not respond to any message or email asking about your bank information or personal details.
3. Always check website when you’re entering user ID or password.
4 Avoid using easy to guess passwords like first names, birthdays, kid’s name or telephone numbers. Change your banking passwords regularly.
File complaint about online banking fraud:
If you think, you have been victim of online crime do report it crime immediately to the bank. Every banks have installed CCTV cameras in bank premises and ATM outlets, and they notify customers through email and SMS about any transaction from their account.
A person can file an application under Section 46 of Information Technology Act, 2000 if he/she falls victim to any online banking crime.
Section 43A of Information Technology Act, 2000 states that the banks and other intermediary platform are responsible for the safe banking and if fail to do so, will be liable to pay adequate compensation to the customer. The bank is liabile to prove that it took enough measures to prevent any illegal and unauthorised transactions.
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