credit card fraud

Have you ever called someone posing as a bank employee and said that they will increase your credit card limit? If you have rejected such an offer, then understand that you have saved yourself from a big fraud. Many cases have come to light where fraudsters force credit card users to give OTP in the name of increasing the limit. The method of fraud is like this, first a call comes in which an offer to increase the limit is given. If the customer agrees, then the fraudsters ask him the card number, CVV, expiry date and even the OTP received on the mobile. Later the customer comes to know that the call was not made by the bank but by a fraudster and by then the loss has already been incurred.

Stay alert like this, 5 important tips

1. Double check identity: If someone is claiming to be a bank employee, do not trust his words directly. See which number the call is coming from. Is it like your bank's customer care? According to TRAI, from next year all bank numbers will start with 1600 series, this will make it easier to identify fake calls.

2. Pay attention to the way you talk: Often fraudsters make tall claims like I am speaking from the head office, I am a bank manager etc. Actually, bank managers never call to increase such limits. Be alert as soon as you hear such things.

3. Giving CVV and OTP is strictly prohibited: No matter how genuine the caller may seem, never share CVV, OTP or confidential card information with anyone, not even the bank employee. Banks themselves do not even ask for OTP.

4. Identify bank messages: In the OTP message coming from the bank, it is clearly written that the sender is the bank. Fraudsters send similar looking messages from common numbers. Do not trust such messages.

5. Tell the bank immediately: If you get any such message in which money is deducted from your card and you are not able to recognize it, then immediately call the bank and get the card blocked.