3 Musts For a SAFE Digital Banking Experience

Technology has impacted every aspect of human life and banking is no stranger to this. Digital banking has taken the world by a storm and made it possible to avail banking services all through a simple click of the mouse. While digital banking is safe and convenient, there are a few aspects you need to look into to ensure a safe and secure experience. Awareness is the best defence, so here we go!

Do Not Share Your Account and Card Information With Anyone

It is always advisable to resist from sharing any of your account or card information with anyone, especially over calls, even if the person at the other end is posing to be a bank official. Further, to protect your online and digital banking experience, you should create strong passwords with a mix of alphabets, numbers, and special characters. Do remember that many fraudsters are just waiting for one mistake from your end. Since past few days, one SMS is moving across the mobile devices:
– Dear Customer, your XXXX Bank Debit Card points worth Rs. 6897 expired by XXXXXX. Kindly convert your points in cash by click here. We came across several instances where the receiver of the message clicked on the link and shared their card details on the link in the message. While no points got converted into cash as such points were non-existent, the card holder became a victim of fraudulent activity.

Protect Your Device

Digital banking is highly dependent on the use of physical devices such as smartphones, tablets, and laptops. In the unfortunate event that we lose any of these devices, all personally identifiable information (PII) about our bank accounts becomes prone to loss or theft. So always protect your devices through passwords, screen locks and the like. This will make it almost impossible for any other individual with access your device to read into private data, especially the financial one.

Ensure That KYC Documents Submitted By You Are Put To That Use Only

When you submit some documents to the bank officials as part of Know Your Customer (KYC) process, make sure that such documents are stored in the records only for that very purpose only. There have been instances of use of such documents for opening of fraudulent accounts in your name. Since the documents disclose your identity in the bank’s records, you may be held liable for any such fraudulent activity in that account. It is a general practice to hand over the PAN card and other identity/ address copy duly forsigned for applying a new credit card when executives visit our office with great card deals. Make sure you also put up the purpose of the document submission on the self-attested copy so that the document cannot be used another time.

These small yet significant practices form the cornerstone of secure digital banking, and should be followed diligently by one and all. We, at CRIF, deploy the best safety practices to deal with your sensitive data and make sure that any unauthorised access to such information is detected and eliminated at the first instance.

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