How to Secure Banking – Global threat of Banking Transactions

We look forward to supporting you in tackling fraudulent attempts from anonymous hackers. The new era is fully digital, the growing economy and use of IoT grown the uses of Net banking and Mobile banking. Hackers using VPN and cheating not only single countries innocent people this is a global threat. Every coin has two sides, so we need to be prevented something dangerous.

Case Studies of Money fraudulent – What is happening?

a) The hacker will call you saying that I am your known relative today my voice is not well. Can you favour me someone giving me money, but my receiving limit has been over? He will transfer money in your account sending you a message received from him. And collect the money return whenever you get time. This is one of the examples, this type of call received by one of our colleagues. Also, receive a message with Bharatpe Link.  

b) Someone will call you that I am calling from a mobile company and trying to resolve your network issue. You need to switch off your mobile for ½ hour or 15 minutes. During this time the hacker’s team do swipe sim with duplicate one. That’s it all the accounts and banking details gets hacked with the help of duplicate mobile sim.  Even though few telecom operators now have taken precaution and blocked SMS transaction for 24 hours.

c) ATM Card cloning is these days being mushrooming like never. Daily ATM card getting cloned and the bank also not able to help. As per the law if you are sharing your ATM card to any of your family members for withdrawal of money there is no responsibility of the bank. Hackers using devices to clone ATM in a Back ATM and Swipe machine. These are the aspect identified but the internal process we don’t know.

Money Trap

Known hackers’ tools name obscurity: An Identified way of Money trapping

Smishing: It is a combination of short message service (SMS – also known as text messaging) and phishing (the act of emailing someone with the intent of obtaining personal information that can be used for identity theft). In this case, the fraudster sends a message over SMS, rather than Email. The smashing message may look like “You have won 2 free tickets to an Amusement Park, visit this website to claim your prize”. Clicking on the link may lead you to a website asking for personal information. These are becoming more common due to smartphones becoming more popular.

Phishing: It is a global problem faced by Banks worldwide. It is an attempt to ‘fish’ for your banking details. Phishing could be an e-mail that appears to be from a known institution like banks/a popular website asking confidential data like user id and transaction password, One Time Password (OTP), Unique Reference No. (URN) etc.

Spear Phishing: It is a targeted phishing attempt through an e-mail that appears to come not only from a trusted source with a context customized /personalized and often will be one of relevance to either current projects of developments within the company or may be related to a family event.

Spoofing: These attacks refer to tricking or deceiving the users, by faking the identity of another user, over email, phone, website etc. Website spoofing is the act of creating a website, as a hoax, with the intention of performing fraud. To make spoof sites seem legitimate, phishers use the names, logos, graphics and even code of the actual website. They can even fake the URL that appears in the address field at the top of your browser window and the Padlock icon that appears at the bottom right corner. Even Emails can be spoofed to make the victim believe that it has been sent by ‘Trusted’ sender and lead the victim to share sensitive information.

Vishing: It is an attempt of a fraudster to take confidential details from you over a phone call. Details like user id, login & transaction password, OTP (One-time password), URN (Unique registration number), Card PIN, Grid card values, CVV or any personal parameters such as date of birth, mother’s maiden name. Fraudsters claim to represent banks and attempt to trick customers into providing their personal and financial details over the phone. These details will then be used to conduct fraudulent activities on your account without your permission leading to financial loss.

SIM Swap: Your mobile phone is a convenient banking channel. You can get account-related alerts and the One Time Password (OTP) required to carry out banking transactions and make various financial inquiries through your mobile. However, if you do not take a few simple precautions, a criminal can divert these alerts by getting your genuine SIM exchanged with a duplicate SIM through your service provider and attempt to commit fraud.

Frauds through social networks: Social media sites are fast being popular among fraudsters also and celebrations are easy times to lure the youth of today. For example, the latest tool observed is an invite to install a “Valentine theme” on one of the most popular social networking websites. The install button prompts the download of a malicious browser extension which monitors the user’s activities. Sometimes users are redirected to a survey page asking them for vital information like name, mobile number etc.

Keep saving your money, follow Safety Tips:

Safe use net for banking
  • Any bank or Government and Regulatory bodies, including the Income Tax Department/ Reserve Bank of India (RBI), will never ask for any confidential information over e-mail or phone call
  • Treat any e-mail message that asks for confidential/ personal information with suspicion. Do not respond to any web-forms in e-mails, that ask for your Net Banking or email user id/ passwords, ATM card number or PIN, Date of Birth, Mobile number etc.
  • Never use a link in an e-mail message to log on to the Bank website. Type the URL directly into your browser’s address bar to ensure that you are reaching the correct web page.
  • Do not open e-mail attachments from unverified/ unexpected sources or instant message download links. Delete such suspicious e-mail messages immediately
  • Do not access Net Banking or make payments using your Credit/ Debit Card from shared or unprotected computers in public places
  • Setup either email and/ or SMS alerts on your Net Banking for all transactions on your account(s)
  • Avoid sharing mobile with anyone even your own child they may also do open anonymous messages or links.
  • Avoid updating personal information on Social media.
  • Don’t share WhatsApp, email or message your bank account details.
  • Don’t use unknown browsers many times we see that few of our clients gets downloaded different type of search engines.
  • Hold less amount in the bank which you use mostly for Net banking and ATM transactions.


We as a responsible blogger trying to keep safe your banking transaction. The above contents related to the threat of banking received from our Bank email. So, we decided to share this with you to keep our audience safe for banking transactions.

Source: Yesbank email communications

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