Which of the Following You Should Not do to Stay Safe from Digital Payment Fraud

To stay safe from digital payment fraud, you should not share your sensitive information like passwords, UPI PIN, CVV, OTP (One-Time Password), and credit/debit card details with anyone.

When you save your payment details (like credit card numbers or banking information) on a browser or a third-party website, you are essentially entrusting that website or browser with your sensitive financial data. While many reputable sites have security measures in place, there is always a risk, including:

• Data Breaches:

  • Even secure websites can be targeted by hackers. If the site experiences a data breach, your saved information could be compromised.

• Vulnerability of Your Device:

  • If your device (computer, phone, or tablet) is compromised by malware, spyware, or a virus, the malicious software could potentially access the saved information on your browser or in its storage.

• Phishing and Scams:

  • If you accidentally visit a fraudulent website that looks like a legitimate one, and your browser’s auto-fill function is enabled, it might auto-populate your details, tricking you into providing your information to a scammer.

• Shared Devices:

  • If you use a shared computer or device, anyone with access to it could potentially see or use your saved payment information.

Therefore, the practice of not saving your bank or card details is a strong security measure that puts you in full control of your information during every transaction. While it may add a few extra seconds to your checkout process, it significantly reduces your risk of falling victim to fraud.

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To stay safe from digital payment fraud, here’s a key guideline:

❌ What You Should NOT Do:

Share your OTPs, passwords, or CVV codes with anyone—even if they claim to be from your bank.

Based on best practices to stay safe from digital payment fraud, you should not do the following:

• Share your sensitive information:

  • This includes your passwords, UPI PIN, CVV, OTP (One-Time Password), and credit/debit card details with anyone, even if they claim to be from a bank or a company’s customer support. Legitimate institutions will never ask for this information.

• Click on suspicious links:

  • Do not click on links sent to you via unsolicited text messages or emails, as they are often part of a phishing scam. These links can lead to fake websites designed to steal your information or download malware onto your device.

• Download apps from unknown sources:

  • Only download payment apps from official and trusted app stores like the Google Play Store or Apple App Store. Avoid downloading apps from third-party websites or through links shared on social media.

• Make transactions on public Wi-Fi:

  • Public Wi-Fi networks are often unsecured and can be easily accessed by hackers. Avoid making financial transactions on these networks unless you are using a secure VPN.

• Respond to unsolicited requests:

  • Do not respond to requests for money or information from unknown numbers or individuals. This includes requests to “collect” or “request money” through UPI apps, as these are frequently used in scams.

• Accept screen-sharing requests:

  • Never grant remote access or screen-sharing permissions to anyone, especially if they are an unknown person claiming to be a bank or tech support representative. Scammers use this tactic to view your sensitive information, including OTPs and PINs, in real time.

• Use simple, easily guessable passwords:

  • Avoid using personal information like your birth date, name, or phone number as a password. Use a strong, unique password for each of your financial accounts and enable multi-factor authentication whenever possible

✅ Here’s What You Should Do Instead:

Common Mistake That Leads to Fraud:

• Believing fake calls, texts, or emails pretending to be from your bank or a payment service asking for:

  • OTP (One-Time Password)

  • CVV (Card Verification Value)

  • UPI PIN / ATM PIN

  • Login credentials

If someone asks for these details, it’s a scam.