Using a credit card is part of the spending habit for most of us. But when we start using credit cards too frequently, we might become a victim of credit card fraud. For example, what if someone managed to convince you to share the OTP (on some pretext which appeared genuine at the time) sent to your phone? Then you could be a victim of credit card fraud.
These are some of the tips you could take to save yourself from credit card fraud.
Tips to save yourself from card fraud
I. Never share your OTP: Although it is repeatedly highlighted by the Reserve Bank of India, some card users still fall into this trick, wherein a caller manages to convince the cardholder to share a one-time password (OTP). There have been several cases wherein card users were convinced to share an OTP over a phone call by someone who pretended to be a bank employee.
Even bank employees are not supposed to ask for OTPs.
II. Credit card details: Cardholders should never share credit card details with anyone, especially the date of expiry and CVV.
III. Customer care number: Sometimes, you would receive a call from someone claiming to be the bank’s customer care executive. Recently, a big credit card scam surfaced where 350 SBI customers were ₹2.6 crore”>duped of ₹2.6 crore by a team of scamsters who were running a call centre in Gurugram.
In this case, fraudsters posing as banking executives tricked cardholders into revealing confidential information such as OTPs, PINs, and CVVs. One must be vigilant and stay protected from such fraud.
V. Prompt action required: As soon as you come across something suspicious, you should immediately report the incident to the bank and get the credit card blocked.
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