Digital Fraud @ How to Safeguard

Digital Fraud @ How to Safeguard

ATM fraud @ Card skimming is when credit/debit card information is fraudulently obtained and copied onto a fake card

Types of fraud

There are two major types of data-driven frauds:

·         Identity theft

·         Phishing

Both result in loss of money and /or financial data

Safety Steps | You can follow certain precautionary measures to help protect your data from fraudsters.

·         Provide personal information only when it is required and share data only on authentic websites

·         Identity protection products that will notify you if your personal data is compromised on the dark web.

·         Always transact via modes that offer end-to-end encryption since that prevents any third-party from accessing the information being communicated to or stored by a web portal.

·         A simple way of ensuring that you are transacting on a secure website is by looking for the ‘https://’ tag, The ‘s’ in ‘https’ stands for secure, which encrypts the data being sent to and from that website.

·         Additionally, as a thumb rule, never share your passwords, OTP or bank pin with anyone, including a banking official.

Digital Hygiene

·         Avoid sharing too much information about yourself on social media

·         Be mindful of the sort of information typically used for password reset options, like the name of your first elementary school, your mother’s maiden name, place of birth, etc.

·         Ensure that you change your passwords frequently.

·         Even tech-savvy users often keep similar passwords for different banking/financial services accounts. Such passwords can be easily cracked, and hence, it’s imperative to have difficult passwords.

ATM: Dos & don’ts

·         Avoid using ATMs that are in remote locations or at deserted places.

·         Press the cancel key after completing your ATM transaction, even if the ATM does not dispense cash.

·         During an ATM transaction, check if there is a card skimmer attached to the card reader.

·         A typical ATM skimmer, a device smaller than a deck of cards, fits over the existing card reader.

Regards

Source | Business Line | 17^th September 2018 | Page No 6

Mr. Pralhad Jadhav  

Master of Library & Information Science (NET Qualified) 

Research Scholar (IGNOU)

Senior Manager @ Knowledge Repository  

Khaitan & Co 

Blog | http://pralhad-fyilibrarian.blogspot.in/  

Website | https://sites.google.com/site/pralhadjadhavlib/home  

Twitter Handle | @Pralhad161978

Mobile @ 9665911593