We love sharing a lot of things with our dear ones, office colleagues, friends and family. It’s good to share food, the newspaper, even bike rides, but, remember, NEVER SHARE your banking details with anyone. Especially the One-Time-Password (OTP). On the occasion of ‘Computer Security Day 2017’, State Bank of India has come up with a nice video telling users NOT TO share their OTP with anyone. OTP stands for “One-Time-Password”. Sharing is great; but not when it comes to bank details! Always protect your confidential information and stay away from fraudulent requests. Be alert, be smart with SBI.
Sharing is great; but not when it comes to bank details! Always protect your confidential information and stay away from fraudulent requests. Be alert, be smart with SBI. #ComputerSecurityDay #SBICyberSecurity pic.twitter.com/DD2BMs630y
— State Bank of India (@TheOfficialSBI) November 30, 2017
We are living in a digital world today. Everything from mobile recharge to bill payments is going digital. And indeed, it’s true that, all technology is vulnerable. Today, fraudsters will do anything to gain access to our personal and financial information, like asking for our User ID, Password, OTP, Grid Values etc. This is then used to access our bank account and do unauthorized transactions. To avoid possible fraud and misuse of our banking details few things need to be taken seriously. The only thing we can do to ensure the safety of our banking is to take preventive measures. The SMS which we receive clearly mentions that DO NOT share this OTP with anyone else; nor would the Bank employees would ask for it from any customer.
Keep in mind that, any bank or its employees would never seek sensitive information like Card details, internet banking passwords, card details like Account number, Date of Birth, User ID, Password, Grid card values at the back of debit card, Card number, Expiry Date, CVV code, ATM PIN and most important the OTP etc. through phone/email. It is advised to all the users not to fall prey to such fraudulent calls/emails.
Below is a list of preventive measures you should consider to secure your bank account and your banking details.
- Do Not Share your Bank details with ANYONE
- Enable SMS alerts for all your banking transactions.
- DO NOT share your password/PIN/MPIN/OTP/TPIN with ANYONE
- DO NOT get lured by phishing emails/calls promising lottery, refunds, points, etc.
- DO NOT keep any record of your PASSWORD/PIN/MPIN/TPIN. Memorise it instead.
- Be alert, be smart!
In a statement, MR. DINESH KHARA, MANAGING DIRECTOR, State Bank of India (RISK, IT & SUBSIDIARIES) has asked users to take adequate precautions as listed below to avoid any unwanted circumstances and /or misuse of your online banking details.
a) While using Debit Cards –
Take utmost care of your ATM PIN; do not share with anyone; keep changing it at regular intervals; do not write ATM PIN at any place.
Keep the PIN a little complex and not as 1212, 4545, 1112, as guessable ones.
Never give your card to waiter at Restaurants. Go yourself to the Payment Counter and get the card swiped in your presence.
While doing “online” transactions, be sure of the Security of the Internet Connection. To the extent possible, do not use Public WIFI or other Free WIFI.
Do not get enticed by free offers and swipe/part with your Card data.
Do not share “mother’s maiden name”, “your pet’s name” kind of vital information given by you as answers for “Security Questions” for resetting of passwords.
Use ON/OFF facility provided for managing Debit Card’s international usage.
b) AS TO “VISHING CALLS” –
Please beware; Bank never calls you asking for any sensitive data. Malicious actors may either entice you or threaten you and ask for sensitive information. Please exercise caution in respect of all telephone calls if they are leading to information involving your financial transactions.
c) While using INTERNET BANKING Channel –
Keep your User ID and Password confidential; Do not share with any one; Keep a STRONG PASSWORD – unfortunately, many people select simple passwords that are easy to remember, which are also easy for the cyber criminals to crack; Change the Password periodically; Keep your login and profile passwords distinct from each other;
Do not use INB using insecure internet, like Public WIFI or any Free WIFI in Coffee shops, Airports etc.; execute all your financial transactions on secure channels only.
Register your mobile number in the Bank accounts for SMS Alerts.
Do not keep more than required limits for beneficiaries for money transfer.
Never share OTP/CVV and Password with anyone.
Logout properly and immediately on completion of your session / task. Check your statements and transaction history regularly.
Visit this article for more details on SAFE USAGE OF I.T.