With an aim to curb the increasing reports of ATM frauds in the country, the State Bank of India (SBI), the largest nationalised bank of the country, has issued detailed advisory for its customers asking them to remain more alert, cautious and vigilant.
So, bank account holders should be aware of the risk factors while downloading apps on their mobile devices, cards taken for use in PoS machines not within sight, OTP use and others.
Advisory- SBI Want You To Know Details About ATM Use:
- The SBI has urged its customers not to share banking password/PIN with any one, store them in a mobile device, or share such sensitive information to anyone over telephone.
- Do not encourage calls from unknown numbers related to ATM/bank matters. In case of suspicious or fraudulent calls, get it disconnected immediately and bring it to the notice of the bank.
- SBI YONO Cash service allows customers to withdraw cash from ATMs without their debit cards. There are also apps that allow the customer to keep the banking activities locked by enabling the app-lock feature on payment and mobile banking apps.
- Banks have also made available security features such as fixing up daily/monthly/weekly limits based on customer requirement to reduce chances of falling prey to fraud and losing money through internet banking, or through apps developed by them.
- “Ask your bank to guide you if you are not aware of such facility by virtue of which you can switch on/off as and when necessary, and keep the card in switch-off mode when not in use,” the advisory said.
- Magnetic-stripe cards are now being replaced by EMV chip cards. The ATM card holders should ensure that the card is totally protected from attack by fraudsters. All banks prefer customers to change their ATM PIN frequently which should be done secretly. While changing the PIN number, the card holder must ensure that format of the secret PIN number is not easily guessable.For instance, avoid using first or last four digits of your card/mobile/telephone number, date of birth or year of birth.
- “Never allow strangers to guide you to installing ‘AnyDesk’ or similar apps. Banks send SMS alerts to the registered mobile number regarding withdrawal of money or transaction done for e-commerce/PoS purchases using cards linked to the number.”, the notification read.
- Immediately on receipt of such alert messages, cardholders have to act fast as per message received. Banks accept return SMS messages to a specified mobile number in the alert message, or expect a call in the toll-free number, if the transaction is a fraud.