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Kotak Mahindra Bank reminds its customers of safe banking and online transaction practices
Kotak Mahindra Bank-Facebook

Kotak Mahindra Bank reminds its customers of safe banking and online transaction practices

IndiaBlooms | @indiablooms | 20 Jul 2020, 07:43 pm

Kolkata/IBNS: First demonetisation and then pandemic related containment measures have resulted in a jump in online banking transactions but unfortunately this has also led to an increase in online frauds, especially related to EMI moratorium, KYC Updation and UPI.

One of the country’s leading banks, Kotak Mahindra Bank (Kotak) is actively and regularly reaching out to its customers and urging them to be vigilant and observe some basic precautions to ensure a safe banking experience.

Banking from home is extremely convenient with a range of tools available at a customer’s fingertips to complete a variety of transactions easily and securely from the comfort of one’s home.

According to Kotak, customers must not share sensitive banking information such as passwords, OTP, ATM PIN, card details or any such information with anybody.

Kotak will never ask you for this information. Nor will any other bank for that matter.

Be on the lookout for EMI moratorium frauds – a new avenue for fraudsters to try and cheat people, says Kotak.

Fraudsters, pretending to be representatives of a bank, ask customers for confidential banking details such as their password, PIN, OTP, etc. under the pretence of deferring their EMI payments.

Never share such sensitive information with anyone. Kotak or any other bank will never ask its customers for such information.

Customers are also being urged to be beware of KYC and Re-KYC-related fraud - do not click on suspicious links from unknown IDs or any mobile number asking you to complete your KYC or Re-KYC.

Contact your bank directly on its secure website.

To receive money via UPI, one does not need to scan a QR code or enter a PIN or OTP, warns Kotak.

Banks have also been asking their customers to refrain from downloading screen sharing apps such as AnyDesk, TeamViewer etc, which will enable a fraudster to take control of your device, view confidential banking details and access your account and funds without your knowledge.

It is important to activate SMS and email alerts to get instant updates on banking transactions.

Always visit a bank’s official website – for example, www.kotak.com – for the bank’s contact details.

In addition, be alert when searching online for contact numbers of e-commerce or any service providers.

Fraudsters update their numbers on such search websites and when a person calls them, they ask for confidential bank account details with a promise of cashback or refunds, and then empty the customer’s bank account by fraudulent means.

 

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