ICICI Bank warns against monetary fraud on Facebook and WhatsApp via UPI PIN; If you do this you lose

ICICI Bank has alerted its customers to a dangerous new fraud via WhatsApp and Facebook. Know these tips to stay safe.

Online banking puts all your banking and financial transactions at your fingertips. With technology, banking in India has become much more user-friendly. Whether you need to open a new account, pay EMI or transfer money from one account to another or maybe pay your bills, it’s all possible in seconds. But comfort has a price! Unfortunately, phishing attacks and online frauds are increasing day by day. Fraudsters are finding new ways to scam people through email, spam calls, social media, malicious links and more. New dangers keep emerging and the latest has forced ICICI Bank to warn its account holders about the latest financial fraud on Facebook and WhatsApp.

Despite banks’ constant efforts to protect their customers, bank fraud has increased over the years. Therefore, ICICI Bank alerted its customers to potential fraud in a tweet: “Beware of fraudsters who try to convince you to share your UPI PIN over the phone. Stay safe, practice #SafeBanking. ICICI also shared an email while warning customers about a new and increasingly common type of fraud.

Shocking details revealed

“We have received many genuine requests for funds during these difficult times, so a request from a known acquaintance does not seem out of the norm,” ICICI said in an email. According to the Bank, several scammers are increasingly using customers’ WhatsApp or Facebook accounts to send messages to their contacts asking for money. As the request comes from a known source, several contacts actually transfer the requested amount. “In such cases, be careful and always confirm. If your WhatsApp or Facebook accounts are hacked in any way, please notify the authorities,” ICICI warned customers. In another blog, ICICI also shared some tips to stay safe with mobile banking or internet banking. Check here.

Tips for staying safe with mobile banking

  • Do not follow any URLs in a message that you are unsure of.
  • If you need to share your mobile with someone else, make sure to clear browsing history, cache, temporary files and block your mobile banking app.
  • Only download apps from official app stores like Apple App Store, Google Play Store, etc.
  • Never give out personal information or online banking credentials over email or text, as it can be used for identity theft.
  • Log out of online mobile banking or the app as soon as you are done with your transactions. Make sure to close this window as well. Always check app permissions and only grant permissions that have context relevant to the app’s purpose.
  • Avoid using unsecured and unknown Wi-Fi networks.
  • If you encounter any type of bank fraud, report it to the bank immediately.

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