A recent credit card fraud case affecting SBI customers has highlighted the need for caution. This fraudulent activity resulted in losses of roughly 2.6 crore rupees for around 350 individuals. The police have arrested 18 people after an investigation. The fraud involved a complex network including call center staff, regional agents, SIM card providers, and cryptocurrency users. It’s essential to be aware of such scams to avoid becoming a victim. If you use a credit card, here are five key steps you can take to protect yourself from financial loss.
**5 Key Steps to Protect Against Credit Card Fraud:**
1. **Keep Your Card Information Confidential:** Never share your card’s OTP, CVV, PIN, or password with anyone. Never share your information over the phone or via messages, regardless of who is asking, even if they claim to be a bank representative. Fraudsters will use this information to steal your money. Remember, banks will never ask for these details.
2. **Verify Bank Callers:** If you receive a call from your bank requesting information, always verify their identity. Check the bank’s official website or call customer care to confirm the call’s authenticity. Be cautious and avoid trusting any suspicious calls.
3. **Regularly Check Your Accounts:** Monitor all transactions associated with your bank account and credit card. Enable transaction alerts on your mobile to promptly detect any unauthorized activity. Immediately notify the bank and the police if you spot any suspicious transactions.
4. **Prioritize Digital Security:** Avoid using public Wi-Fi for any financial or banking activities. Ensure your mobile and banking applications are up-to-date. Only download apps from reliable sources like the Google Play Store or the App Store. Never download apps from suspicious links sent via WhatsApp or email.
5. **Take Immediate Action if Suspicious:** If you suspect fraud, immediately block your credit card. Report the issue to your bank and file a police complaint. You can also report the fraud on the National Cyber Crime Reporting Portal. Taking prompt action can minimize any financial losses.