RBI Guideline: With the increase in technology, banking frauds have increased rapidly. Since digitalization, new methods of cyber crime are being seen, due to which people are being robbed of their income. In such a situation, RBI has given tips to avoid fraud. Learn…
1. Do not share personal details
To protect from banking fraud, the Reserve Bank has asked customers not to share their personal details with anyone. Avoid giving anything from mobile banking password to ATM PIN or CVV.
2. Do not give OTP to anyone
Reserve Bank of India told the customers that if someone is demanding OTP over the phone with the fear that your debit or credit card will be blocked, then do not give him OTP even by mistake.
3. Activate instant alerts
If banking fraud occurs, report it immediately. If fraud is detected in time, then first of all activate instant alert for all banking transactions. As soon as you get information about wrong transaction, inform the bank immediately. Do not delay this, because the possibility of loss will increase.
4. Keep bank contact details safe
Most banks provide help to customers to report unauthorized transactions through phone banking, toll-free helpline numbers and websites. These should be kept safely in the phone, so that in any such situation the bank can be contacted immediately. This gives the bank an opportunity to take action.
5. This is how the loss will be compensated
RBI rules say that if you have not shared the payment details with anyone and have complained about fraud to the bank within 3 days, then your loss will be compensated. The bank has to settle the complaint within 90 days of receiving it. If not, you can complain about it to the Reserve Bank.
