Don’t Fall for Online Scams: 7 Ways to Outsmart Online Bank Scammers

Checking your balance, sending money, paying bills, all it takes today is a few taps on your phone. Online banking has made our lives easier, faster and more convenient. But with this ease also comes a risk.

Scammers are constantly looking for new ways to trick people. Sometimes it’s a fake SMS that looks real. Sometimes it’s a phone call from someone pretending to be a bank official. One small mistake can lead to big financial losses.

The best way to be safe is to stay informed. These seven tips can help you protect yourself from online banking scams and make your digital experience more secure.

1. Strengthen Your Login Security

A password alone isn’t enough to protect your account. Enable two-factor authentication (if not enabled by default) to add an extra layer of security—such as a one-time password (OTP), fingerprint, or face recognition. These steps greatly reduce the risk of unauthorized access and are a vital part of safe digital banking practices.

2. Avoid Using Public Wi-Fi for Financial Transactions
Free Wi-Fi at places like cafés or airports may seem convenient, but it is often not secure. Always use a private and trusted network when accessing your bank account or making payments online.

3. Never Share OTPs, PINs, or Passwords
Your OTP, PIN, login password or CVV (Card Verification Value) must always be kept confidential. Bank will never ask for these details over call, SMS, or email. If anyone does, it could be a scam. Disconnect immediately.

4. Be Cautious of Links and Apps
Do not click on unknown links or download apps from unverified sources. Always use contact details taken from the official websites. Scammers often create fake helpline numbers on search engines to trick customers into revealing sensitive data.

5. Check Your Account Regularly
Keep track of your bank statements and transaction alerts. If you notice anything suspicious, report it to your Bank without delay. Additionally, never approve UPI “collect request” links unless you’re absolutely sure why you’re receiving them. Scammers often send these disguised as refunds or rewards. Early action can prevent further damage.

6. Update Your Devices and Apps Frequently
Make sure your mobile phone, banking apps, and antivirus software are always up to date. Updates help fix security issues and improve protection.

7. Use Strong and Unique Passwords
Avoid using easy passwords like your name, birthdate, or simple number combinations. Use a mix of letters, numbers, and symbols. Also, do not use the same password for multiple accounts and avoid saving your net banking passwords or debit/credit card credentials in browsers or autofill forms. These can be accessed if your device is compromised.

Online banking is safe when you follow the right steps. These seven habits can go a long way in protecting your money and personal data. Stay alert, think before you click, and never share confidential information.

Do you suspect a fraud or have been a victim of cybercrime? Here’s how to report it:

Report suspected fraud communications (calls, SMS, WhatsApp) on the Chakshu Portal (sancharsaathi.gov.in/sfc). Victims of cybercrime can report fraud on the National Cybercrime Reporting Portal (cybercrime.gov.in) or call the National Cybercrime Helpline at 1930. Additionally, notify your bank at the earliest.

Indian Bank has also launched a series of cybersecurity awareness films under the campaign #KhabarNahiKhabardarBano. Click here to watch.

Indian Bank. “Your Own Bank, Always with You”

Disclaimer: https://indianbank.in/departments/disclaimer/