Cybercriminals have intensified their activity to commit fraud as a result of digitalisation. Today, we must be vigilant against them as such fraudsters have been targeting consumers on the internet for a long time in order to undertake illicit activities. Customers must be aware of all the facts gathered while booking an FD. Almost all banks and NBFCs offer websites where consumers may check all their FD information and execute transactions. It is vital to note, however, that:
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This information could be used to undertake fraudulent activities if it falls into the wrong hands. To avoid a situation like this from occurring, make sure you keep an eye on your portal and track every transaction.
What can you do to stay safe?
Do’s-
Don’ts-
Customers must not share their personal or financial information with anyone. The only method to distinguish between fake and legitimate agents is to remember that no representative will ever ask for personal information like a password, OTP, CVV, or Card number over the phone, via e-mail, or in any other way.
If your bank account has been debited unexpectedly and a 'bank official' calls to remedy the problem, always verify the caller before responding or taking any action. If you suspect you have been a victim of a fixed deposit fraud, file an FIR with the local police and notify your bank or NBFC partner.
—The author, Fakhari Sarjan, Chief Risk Officer, Bajaj Finance Ltd. Views expressed are personal
(Edited by : Ajay Vaishnav)
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