#SayNaah

"Your account will be blocked today. Please click the link to update your PAN number."?

A message that looks quite familiar isn't it. But don't even think about clicking on that link. This is just one of the many ways cybercriminals have managed to dupe individuals and extract thousands from their accounts.?

Cyber fraud has also seen a massive jump with the meteoric rise of digital payments.?

According to a global information and insights company TransUnion report, the share of suspected fraudulent digital transaction attempts from India increased to 28.32% over the 12 months ending March 2021.

Let's take a look at some of the types of frauds that you should be wary of:

Phishing hacks

Cybercriminals often create phishing websites that can look genuine but are not. For example, they may look like a bank or an e-commerce website. They share these links via SMS, social media, email, etc.

Without checking the URL, users unknowingly click on them and enter security credentials such as a PIN Number, OTP or Password, which get stored with the fraudsters.?

Vishing hacks

People also sometimes receive calls from imposters posing as a bank or an insurance executive who disclose a few customer facts to win over their trust. They plan to trick customers into sharing their bank account's confidential details such as their OTPs, PINs, and Card Verification Values (CVVs) by citing an urgency.?

Using unverified apps?

Fraudsters often circulate apps that appear similar to already existing authorised apps. But, only if you look at them closely can you determine their ingenuity. Individuals should be cautious as downloading these apps gives the criminals complete control over the user's phone.?

Screen sharing apps or remote access

Fraudsters also sometimes trick customers into downloading a screen-sharing app. It means they can watch/control the customer's mobile / laptop and access their financial credentials.

Some fraudsters also create fake profiles on social media platforms to try and extract money under the pretense of urgent medical expenses or help.??

These are some ways cybercriminals employ to loot funds from unsuspecting customers. The best way to combat them is to be vigilant around your digital activities.?

Also, the most important word that you must remember is 'NAAH'! 'Say NAAH' whenever you are asked for your Password, PIN, OTP or CVV.

A secured way for digital transactions

We at Easebuzz make sure safety comes first! Hence, our solutions are PCI DSS compliant with several other security features such as end-to-end encryption and additional fraud prevention.

What does it mean to be PCI compliant?

The Payment Card Industry (PCI) applies to companies of any size that accept credit card payments. It refers to the technical and operational standards that businesses follow to secure and protect credit card data provided by cardholders and transmitted through card processing transactions.

Hence, as payment solution providers, we ensure that all your digital transactions are heavily secured from any kind of fraud.?