As we become more reliant on online financial services, the risk of falling victim to financial fraud is on the rise. Cybercriminals constantly devise new ways to steal our hard-earned money, and without proper vigilance, anyone can become a victim. This guide outlines simple yet effective steps to protect yourself and what to do if you suspect foul play.

1. Stay Alert to Phishing Scams

One of the most common ways cybercriminals attempt to steal your information is through phishing scams. These are fake emails, messages, or phone calls that appear to be from your bank or financial institution. They may ask for your banking password, One Time Password (OTP), ATM PIN, or other sensitive information. Remember: Banks will never ask for these details via phone or email.

Key Tip: Always use strong passwords and avoid using obvious combinations like your birth date. Keep your passwords unique for different accounts and update them regularly.

2. Safe Online Transactions

When conducting online banking or shopping, ensure you’re doing so in a secure environment. Avoid using public Wi-Fi or shared computers in places like cyber cafes. These are often targets for cybercriminals using keyloggers to steal your credentials.

Best Practice:

• Use a virtual keyboard while logging into your bank account on public computers.
• Always log out after completing your online transactions.
• Clear your browser’s cache and history to eliminate any traces of sensitive information.

3. Verify Websites and Apps

Before entering your card or bank details, ensure the website is genuine. Look for the lock icon in the browser’s address bar and check if the URL starts with “https://”. This indicates a secure connection.

For e-wallets and online shopping, only use trusted apps and websites. Avoid clicking on links in unsolicited emails or messages.

4. Monitor Your Accounts Regularly

It’s essential to check your bank statements and transaction alerts frequently. Immediate reporting of any suspicious activity can save you from further financial loss. Keep your bank’s customer care number handy for reporting discrepancies as soon as they occur.

5. Protect Your Debit/Credit Cards

When using your debit or credit card in public, always ensure the transaction is done in your presence. Don’t let the cashier take your card out of sight, as card cloning is a common fraud technique.

Additionally, remember to change your PIN as soon as you receive a new card and ensure that the card package is intact when delivered.

6. Beware of Too-Good-to-Be-True Offers

Fraudsters often lure victims with promises of easy money or no-risk investments. Be wary of any schemes that sound too good to be true. It’s best to consult a financial advisor before making any significant financial commitments.

7. Report Financial Fraud

If you fall victim to fraud, it’s essential to report it immediately. You can do this through the National Cyber Crime Reporting Portal, which allows victims to report all types of cybercrime complaints. Your complaint will be handled by local police authorities based on the information you provide.

If you encounter an emergency, always contact your local police by dialing 100 or report online https://cybercrime.gov.in/