How does a phone fraud take place?
Vishing or 'stealing of identity through telephone with an intention to commit fraud' usually happens this way...
A person posing as a bank or credit card company executive calls you, and furbishes a story.
He/she tends to sound very convincing and confident in conversation, and so the unsuspecting account or credit/debit cardholder easily falls for the con.
To build credibility, connivers sometimes conduct background checks on the victim and furnish personal details on the call. They may state there is something wrong with your account/ card, or offer you new benefits, etc. They usually follow this pitch by asking for important personal data such as card CVV number, One Time Password (OTP), SMS received, passwords or PINs, etc. If their pitch sounds convincing or if you are mentally preoccupied, you willingly share any personal information they are vishing for.
You realize the fraud has happened only when a sum of money is debited from your card or bank account without your authorization.
Here are 8 things you can do to avoid being a victim of vishing:
1. Do not disclose any personal, confidential information such as credit card CVV number, OTP, PINs, passwords, SMS, etc. to anyone; even if you are sure the call is legitimate. Frauds can also be committed by a company's current employee.
2. You might recognise the number flashing on your phone screen as your bank's or credit card company's official number, but do not trust the caller blindly; it could still be a hoax call. Check for credentials and purpose of the call.
3. It is prudent to avoid giving any other non-confidential information (such as bank account details, name, number, address, nominee name, credit card limit, last bill amount, and so on) when anyone calls you. Instead, you must call the customer service number (toll free or other) of the company directly for any queries to avoid the chances of any fraud taking place.
4. Do not reveal any information whether confidential or non-confidential in places that have unrestricted public viewing. Keep your social media accounts private, so that your personal details cannot be viewed by anyone.
5. Avoid using public computers at cyber cafes to log into your bank account or credit card account.
6. Create a password for your debit/credit card for online transactions.
7. At times, we might forget the debit/credit card or bank account password/PIN and need to click on the "forgot password" option. In such cases, an OTP is generated and gets messaged and/or emailed to you; it is best to delete these after being inputted. It becomes even more important to delete it in case you haven't used it. You must change any new password/PIN emailed or messaged after logging in for the first time, and delete such emails or messages right after.
8. Before providing credit card or bank account details to any vendor, service provider or hotel, do a thorough background check so that your details aren't misused later.
From India, Ahmadabad
34Vishing or 'stealing of identity through telephone with an intention to commit fraud' usually happens this way...
A person posing as a bank or credit card company executive calls you, and furbishes a story.
He/she tends to sound very convincing and confident in conversation, and so the unsuspecting account or credit/debit cardholder easily falls for the con.
To build credibility, connivers sometimes conduct background checks on the victim and furnish personal details on the call. They may state there is something wrong with your account/ card, or offer you new benefits, etc. They usually follow this pitch by asking for important personal data such as card CVV number, One Time Password (OTP), SMS received, passwords or PINs, etc. If their pitch sounds convincing or if you are mentally preoccupied, you willingly share any personal information they are vishing for.
You realize the fraud has happened only when a sum of money is debited from your card or bank account without your authorization.
Here are 8 things you can do to avoid being a victim of vishing:
1. Do not disclose any personal, confidential information such as credit card CVV number, OTP, PINs, passwords, SMS, etc. to anyone; even if you are sure the call is legitimate. Frauds can also be committed by a company's current employee.
2. You might recognise the number flashing on your phone screen as your bank's or credit card company's official number, but do not trust the caller blindly; it could still be a hoax call. Check for credentials and purpose of the call.
3. It is prudent to avoid giving any other non-confidential information (such as bank account details, name, number, address, nominee name, credit card limit, last bill amount, and so on) when anyone calls you. Instead, you must call the customer service number (toll free or other) of the company directly for any queries to avoid the chances of any fraud taking place.
4. Do not reveal any information whether confidential or non-confidential in places that have unrestricted public viewing. Keep your social media accounts private, so that your personal details cannot be viewed by anyone.
5. Avoid using public computers at cyber cafes to log into your bank account or credit card account.
6. Create a password for your debit/credit card for online transactions.
7. At times, we might forget the debit/credit card or bank account password/PIN and need to click on the "forgot password" option. In such cases, an OTP is generated and gets messaged and/or emailed to you; it is best to delete these after being inputted. It becomes even more important to delete it in case you haven't used it. You must change any new password/PIN emailed or messaged after logging in for the first time, and delete such emails or messages right after.
8. Before providing credit card or bank account details to any vendor, service provider or hotel, do a thorough background check so that your details aren't misused later.
From India, Ahmadabad
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