Recently, a significant credit card fraud case involving SBI customers came to light. This fraud resulted in losses of approximately 2.6 crore rupees for around 350 individuals. Following a six-month investigation, the police apprehended 18 individuals. The fraudulent scheme involved a network including call center employees, regional agents, SIM card providers, and those utilizing cryptocurrencies. To avoid becoming a victim of such scams, it’s crucial to be vigilant. If you use a credit card, here are some essential tips to safeguard yourself and prevent financial losses.
**5 Essential Tips to Avoid Credit Card Fraud:**
1. **Never Share Your Information:** Avoid disclosing your card’s OTP, CVV, PIN, or password to anyone. Even if the caller claims to be a bank official, sharing sensitive information via calls or messages is risky. Fraudsters can use this information to steal money from your account. Always remember, banks never have the right to ask for this type of information.
2. **Verify Identity When Receiving Calls from Banks:** If you receive a call from your bank requesting information, verify their identity first. You can do this by contacting the bank through their official website or customer care number. Never trust suspicious calls.
3. **Monitor Your Account Activity Regularly:** Pay close attention to every transaction related to your bank account and credit card. Enable transaction alerts on your mobile to quickly detect any unauthorized activity. If you notice any suspicious transactions, immediately inform the bank and the police.
4. **Prioritize Digital Security:** Avoid using public Wi-Fi for any banking or financial transactions. Keep your mobile and banking apps updated. Download new apps only from trusted sources like Google Play Store or the App Store. Never download apps from suspicious links received on WhatsApp or email.
5. **Act Immediately if You Suspect Fraud:** If you suspect any fraudulent activity, immediately block your credit card. Inform your bank promptly and file a police complaint. You can also register a complaint on the National Cyber Crime Reporting Portal. Taking quick action can minimize your losses.
