How to safeguard your banking transactions
One should always use the hovering digital keyboard to key in login details instead of the computer keyboard.
1. Online banking checks
One must memorise the Net banking password and not divulge it to anyone or even write it down anywhere. One should access Net banking from a known computer with a secure network. It is not wise to carry out Internet banking from a public computer or an unsecure network. Use the hovering digital keyboard to key in login details instead of the computer keyboard. One should always remember to log out of the website after use.
2. Cheque book checks
Cheque books should always be kept in a secure place. It is risky to keep signed cheques in the cheque book, or issue a signed cheque without writing other details to any person. Record details of cheques issued on the recording slip, so you can reconcile the same with bank records.
3. Credit/debit card checks
It is important to track credit and debit card transactions. Setting SMS or email alerts help us get notified about any transaction carried out on the cards.
4. Reporting a fraud
If one suspects misuse, it should be reported to the bank /card issuer within a week. After blocking the card, one should lodge a formal written complaint with the bank, along with documentary evidence, such as statements and SMS alerts received about the suspicious transaction. A police complaint should also be lodged, which can then be forwarded to the cyber crime cell.
Points to note
- Do not opt for saving of password option prompted by the browser while accessing Internet banking.
- Beware of malicious sites and apps while accessing Net banking or downloading Net banking apps.
(The content on this page is courtesy Centre for Investment Education and Learning (CIEL). Contributions by Girija Gadre, Arti Bhargava and Labdhi Mehta.)