Beware! Don't fall for banking, mobile frauds: 5 ways to stay safe

In the age of digitization, growing dependence on the internet, social media interactions and usage of e-commerce platforms for day to day shopping to become dependent on online financial transactions. Whether for shopping or paying for any other online service or bills, we have put our own money in online wallets, banks, and other such institutions. But know that these as well as use of debit cards and credit cards are not safe if you don't take proper measures. This digital convenience has led to the formation of certain fake websites to loot consumers and has led to many fraudulent cases where people end up losing money.

Here's how to stay safe from these mobile banking frauds:

1. One should always keep a check on the latest updates of their smartphone's operating system. Updating it with latest security patches and updates makes your phone less vulnerable to online financial attacks.

2. Make sure you allow apps to send you mobile notifications to get timely alerts, in case of any unauthorized transaction. A mobile notification will quickly alert you and can keep you safe from these kinds of frauds.

3. Stay safe from SMS phishing. These are the fake SMS sent to people, that promise people a lottery, reward, gifts or any other reason, redirecting them to fraudulent links. These links ask for personal details and loot people breaching their privacy.

4. Voice phishing or vishing is an online fraud where fraudulent acts as a bank's representative and ask for a PIN, passwords, OTPs, numbers, mail-ids, etc. As it is important to note that banks never ask for such details from customers.

5. Fraud calls promising guaranteed loans and credit for cheap or no interest. These tricksters convince you that you are selected for a pre-approved loan ask you to share your personal information.