Internet & Mobile Banking Frauds

Money is the most common motive behind all crime. The same is also true for cyber crime. Globally it is being observed that more and more cyber crimes are being committed for financial motives rather than for “revenge” or for “fun”.

With the tremendous increase in the use of internet and mobile banking, this trend is likely to increase unabated. Financial crimes include hacking into online banking of an individual or corporate or bank servers itself, computer manipulation etc.

• The credentials of the one’s Internet banking can be obtaining by Phishing attack.
• The credentials of the one’s Mobile banking can be obtaining by Smishing attack.
• The credentials of the one’s Internet banking, Mobile Banking including One Time Password (OTP) can be obtaining by Vishing attack.

Counter Measures

• DO NOT respond to any email from unknown source
• DO NOT respond to any email pretend to be from known source with request for divulging confidential information especially credentials of Internet banking, mobile banking etc.
• Do not click on links sent through SMSes.
• Do not reply to promotional SMSes.
• Always type link and do not click on automated links.