Beware! You can lose your money to online frauds! Stay safe, just do this

Digital Banking: Digital banking today has become the most preferred way of doing personal banking without the need for personal visits to shops or other institutions. Banks and financial institutions have been simplifying methodologies used for the benefit of the common man in  order to empower him to both understand and carry out transactions and other activities through online platforms. While, this has empowered the users, it has also served as an opportunity for fraudsters to cheat people of their money in many different ways.

The Reserve Bank of India, which is a banking regulator in India has instructed banks to adopt mechanisms to check these activities of fraudsters. It also issues advisories for people to make them aware about the threats and also how to mitigate those threats so that they do not lose any money.

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Top 7 tips to avoid losing money online to fraudsters:

1] Only use sites with https and look closely to the website addresses. They may appear original on cursory glance but could have been altered slightly to look same. Use only verified, secure and trusted websites, that is, websites starting with https: for online banking. Avoid banking through public, open or free networks.

2] Do not disclose your user id or password with any body. Regularly change the password to avoid chances of hack. Avoid making passwords that can be easily guessed.

3] Register your mobile number and email with your bank to get instant alerts. If you get an alert about a transaction that you have not initiated or authorised, you can immediately take it up with your bank.

4] You need to take a few more precautions while banking online. For instance, do not store important banking data in your mobile, email or wallet.  

5] Regularly change your ATM card, Credit Card, Prepaid Card pins. Block the cards immediately if lost or stolen. Stand close to ATMs while withdrawing cash.

6] An employee or executive of RBI will never call anyone. Do not reveal any confidential information with regards to your account if someone calls you and tells you that he or she represents the RBI. 

7] Give a missed call on 14440 to know more.