Banking online? Beware of SIM Swap, Spear Phishing, Smishing etc
November 11-17th is International Fraud Awareness Week. International Fraud, some of it due to digital activities is on such a significant scale that its prevention now warrants promotion!
While the Government encourages citizens to go digital & Indian banks provide a slew of dubious smartphone apps possibly built by contractors, it is the customer's responsibility to be aware of online banking fraud scams like SIM Swap, Phishing, Vishing, Smishing, Spear Phishing & a host of other baits as India has lax data protection laws and banks require you to waive off their liability if you become a victim
While the Government encourages citizens to go digital & Indian banks provide a slew of dubious smartphone apps possibly built by contractors, it is the customer's responsibility to be aware of online banking fraud scams like SIM Swap, Phishing, Vishing, Smishing, Spear Phishing & a host of other baits as India has lax data protection laws and banks require you to waive off their liability if you become a victim
That a fraudster planning a SIM Swap hack can make mobile service providers grant a new SIM card based on fake identity of genuine customer shows that it is one of many weak links in an overall system that should be fixed before campaigns encouraging customers to go digital are floated.
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