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How you can avoid being scammed through vishing calls

The RBI issued a document to improve public awareness about fraudsters' activities and to give some recommendations on protections to take when completing financial transactions.

How you can avoid being scammed through vishing calls gcw
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New Delhi, First Published Mar 21, 2022, 10:38 AM IST

In recent years, there has been a remarkable increase in the use of digital payment methods. This has increased consumer convenience while also greatly helping to the accomplishment of the national goal of financial inclusion. Fraudsters have been utilising a variety of methods to steal the hard-earned money of ordinary and naive people, particularly new entrants unfamiliar with the techno-financial eco-system.

Recently, the RBI issued a document to improve public awareness about fraudsters' activities and to give some recommendations on protections to take when completing financial transactions.

The modus operandi suggests that imposters contact or approach consumers as bankers, corporate executives, insurance agents, government officials, etc., and ask confirmation of the secure credentials by revealing a few information such as name or date of birth to garner confidence.

Also Read | RBI shares how to protect yourself from ATM card skimming

In certain circumstances, imposters pressurise or deceive clients into urgently and instantly giving sensitive data alleging emergency, details necessary to prevent transaction, payment required to halt penalty, gain appealing discount, and so on. These credentials are subsequently exploited to scam consumers.

To avoid the same, one should remember bank officials, financial institutions, or any legitimate business would never require clients to give private information such as usernames, passwords, card details, CVVs, or one-time passwords (OTPs).

Also Read | Here's how to avoid being scammed through QR code

 

This brochure highlights the need of safeguarding one's personal information, being wary of unfamiliar calls/emails, exercising caution while doing financial transactions, and updating secure credentials/passwords on a regular basis. As a result, the title BE(A)WARE - Be Aware and Beware!

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