Digital Payments/Banking Safety
https://www.localcircles.com/a/press/page/digital-payments-safety-survey
Members would be happy to know that post our survey, RBI has released the below “SAFE DIGITAL BANKING PRACTICES” dos and donts. You may all please go through and share with your contacts.
Never share your account details such as account number, login ID, password, PIN, UPI-PIN, OTP, ATM / Debit card / credit card details with anyone, not even with bank officials, however genuine they might sound.
Any phone call / email threatening the blocking of your account on the pretext of non-updation of KYC and suggestion to click link for updating the same is a common modus operandi of fraudsters. Do not respond to offers for getting KYC updated / expedited. Always access the official website of your bank / NBFC / e-wallet provider or contact the branch.
Do not download any unknown app on your phone / device. The app may access your confidential data secretly.
Transactions involving receipt of money do not require scanning barcodes / QR codes or entering MPIN. Thus, exercise caution if asked to do so.
Always access the official website of bank / NBFC / e-wallet provider for contact details. Contact numbers on internet search engines may be fraudulent.
Check URLs and domain names received in emails / SMSs for spelling errors. Use only verified, secured, and trusted websites / apps for online banking, that is, websites starting with ‘’https’’. In case of suspicion, notify local police / cybercrime branch immediately.
If you receive an OTP for debiting your account for a transaction not initiated by you, inform your bank / e-wallet provider immediately. If you receive a debit SMS for a transaction not done, inform your bank / e-wallet provider immediately and block all modes of debit, including UPI. If you suspect any fraudulent activity in your account, check for any addition to the beneficiary list enabled for internet / mobile banking.
Do not share the password of your email linked to your bank / e-wallet account. Do not have common passwords for e-commerce / social media sites and your bank account / email linked to your bank account. Avoid banking through public, open or free networks.
Do not set your email password as the word “password” while registering in any website / application with your email as user-id. The password used for accessing your email, especially if linked with your account, should be unique and used only for email access and not for accessing any other website / application.
Do not be misled by advices intimating deposit of money on your behalf with RBI for foreign remittances, receipt of commission, or wins of lottery.
Regularly check your email and phone messages for alerts from your financial service provider. Report any un-authorized transaction observed to your bank / NBFC / Service provider immediately for blocking the card / account / wallet, so as to prevent any further losses.
Secure your cards and set daily limit for transactions. You may also set limits and activate / deactivate for domestic / international use. This can limit loss due to fraud. more
Members would be happy to know that post our survey, RBI has released the below “SAFE DIGITAL BANKING PRACTICES” dos and donts. You may all please go through and share with your contacts.
Never share your account details such as account number, login ID, password, PIN, UPI-PIN, OTP, ATM / Debit card / credit card details with anyone, not even with bank officials, however genuine they might sound.
Any phone call / email threatening the blocking of your account on the pretext of non-updation of KYC and suggestion to click link for updating the same is a common modus operandi of fraudsters. Do not respond to offers for getting KYC updated / expedited. Always access the official website of your bank / NBFC / e-wallet provider or contact the branch.
Do not download any unknown app on your phone / device. The app may access your confidential data secretly.
Transactions involving receipt of money do not require scanning barcodes / QR codes or entering MPIN. Thus, exercise caution if asked to do so.
Always access the official website of bank / NBFC / e-wallet provider for contact details. Contact numbers on internet search engines may be fraudulent.
Check URLs and domain names received in emails / SMSs for spelling errors. Use only verified, secured, and trusted websites / apps for online banking, that is, websites starting with ‘’https’’. In case of suspicion, notify local police / cybercrime branch immediately.
If you receive an OTP for debiting your account for a transaction not initiated by you, inform your bank / e-wallet provider immediately. If you receive a debit SMS for a transaction not done, inform your bank / e-wallet provider immediately and block all modes of debit, including UPI. If you suspect any fraudulent activity in your account, check for any addition to the beneficiary list enabled for internet / mobile banking.
Do not share the password of your email linked to your bank / e-wallet account. Do not have common passwords for e-commerce / social media sites and your bank account / email linked to your bank account. Avoid banking through public, open or free networks.
Do not set your email password as the word “password” while registering in any website / application with your email as user-id. The password used for accessing your email, especially if linked with your account, should be unique and used only for email access and not for accessing any other website / application.
Do not be misled by advices intimating deposit of money on your behalf with RBI for foreign remittances, receipt of commission, or wins of lottery.
Regularly check your email and phone messages for alerts from your financial service provider. Report any un-authorized transaction observed to your bank / NBFC / Service provider immediately for blocking the card / account / wallet, so as to prevent any further losses.
Secure your cards and set daily limit for transactions. You may also set limits and activate / deactivate for domestic / international use. This can limit loss due to fraud. more
Viewed by 2017
View all 6 comments Below 6 comments
Punishing the Guilty system is not there at all. Govt should tighten its Belt and initate action. more
Feb 08
Every payment system has loopholes. Fraudsters are smart and develop ways to cheat people. Cash, Cheques, Online etc have their downsides and this doesnt mean one should scrap the system or bring in some difficult mode of operation. Online payments are supposed to be trouble-free, easy, convenient, quick and less expensive. It helps in better circulation of money and keeps business moving. Frauds and cheats have to be independently dealt with. The users are expected to exercise basic caution. I have been a very big supporter of online payments systems and even established such systems at my workplace as well as my personal transactions almost two decades ago. It has only improived and things have become robust and better with each passing day. more
Feb 03
Manuel Aaron: Three days ago, I received a call on my landline from a man who said he was Ramakrishnan talking from my bank, Indian Bank. He spoke through a mobile phone. He told me that I was using a particular Debit card and that "from tomorrow all Indian Bank cards would be changed to Master Card." I asked him to send me an Email about it. Then he read out the first six digits of my Debit card and asked me if they were correct. I said, yes. Then he told me that to issue a new Master Card immediately, I need to confirm by reading out the remaining digits. I refused as I have been advised every now and then by Indian bank not to reveal such details even to anybody purporting to be from our bank. When he found that I was not going to give him the card No. he warned me that my Account would be locked and I cannot use a single paisa from it! I had actually believed that he was indeed talking from my bank but when he threatened to lock my account I got very angry and told him, with my heart pounding, that I would put him in jail if he did anything like that! And I disconnected the phone call. Though he spoke in Tamil, I knew he was not a Tamilian, probably a Telugu. A little later when I met my son I told him of this episode. He said that about the same time he was also approached by one Ravichandran from the bank. As my son actually knew one Ravichandran, he answered, "Hullo Ravi, how are you?" When that guy responded, my son told him, "But your voice is not that of Ravi!" And that put an end to everything. Whenever somebody unknown from your own bank calls you, it is best to ask counter questions: Can I talk to the Manager? Which branch are you from? Has my Loan application been sanctioned, even if you have not applied for a Loan? more
Jan 30
This online fraud can be like getting pickpocketed. does it stop you from carrying money no you take due precautions to alleviate the problem ever since online transaction started I have been using it in fact my cash transaction is limited to paying my maid servant. My newspaperman, Dhobi, vegetable seller- every body is on line payments.Like in the real world you take measures to avoid theft and pickpocket similarly due diligence is required to save yourself from online fraud. The advice given above is very correct and due importance need be given. Cannot throw the baby with the bathwater more
Jan 29
