Safeguarding India's mobile payments from fraud; Here's how you can stay protected – www.deekpay.com

Safeguarding India’s mobile payments from fraud; Here’s how you can stay protected | With the advent of technology in India, we have seen a rapid rise in digitisation, especially in the payments sector. We have seen the transition of a cash-driven economy into one that is completely dependent on mobile payments for its everyday use. And as digitisation becomes the norm, cyber security becomes an important part of our growth. With the rise of mobile banking and payments in India, it is crucial for users to be aware of phishing attacks and take proactive steps to protect themselves. We at Paytm are committed to drive safe and secure mobile payments in India, valuing our relationship and the trust you have placed on us over the years. With mobile payments safety at the core of all our innovations, we take all necessary steps to keep your mobile banking experience safe and secure. But here is where we also need the participation of every Indian internet user to drive the growth of digitisation in the country.  It is crucial for individuals to be vigilant and take necessary precautions to safeguard their mobile banking and payment experiences. In this blog, we will provide some essential tips and best practices to help you stay protected and enjoy a secure mobile banking and payment experience in India. But before we do that, let’s understand what is Phishing?Phishing is a form of cyber attack used by cybercriminals to trick individuals into revealing sensitive information such as usernames, passwords, credit/debit card details, or other personal information. You may receive fraudulent emails, text messages, and calls asking you to share some crucial details or click on the attached link. You also need to beware of fake websites that mimic legitimate organizations, including banks and financial institutions.Identify phishing attack by observing the below mentioned signsWhat do you do when you come across emails, calls or messages that seem suspicious? Here are some of the tips to identify phishing attempts and help you stay protected from fraud. Pay close attention to the sender’s email address: When you receive an email, and before you act upon it, always pay close attention to the sender’s email address. For example, no legitimate or authentic organization will send you an email from an address ending with ‘@gmail.com’ as they have their email address ending with the name of the organization like ‘@paytm.com’. You also need to keep an eye on the spelling of the organization mentioned as slightly altered domain names can be used to mimic legitimate organizations. Note how the emails greet you: Genuine emails will generally greet you by your name instead of writing ‘Dear Customer’ or ‘Dear XYZ User’.  Keenly observe the grammatical and spelling errors: Official emails or messages make sure that there is no spelling or grammatical error in the text they send you. If you notice too many errors in the email or message you receive, be alert. Creates a situation to panic: Urgency can lead to panic and you may end up doing things you shouldn’t. Phishing attempts try to put you in such situations by asking you to take an immediate action and ensure that you don’t pay attention to other details. You need to be cautious before acting up on any message or emails. Always check their authenticity first. Attachment of suspicious links: Beware of “too good to be true” deals seeking your account details for verification or for sending free gifts, prize money, etc. Avoid opening attachments or clicking on links within emails from unknown sources. Hover your mouse over links to check their destination before clicking, and ensure they match the legitimate website’s URL. What does the URL indicate: You must have noticed how the URL of a webpage reads. It always starts with ‘https://’. Most of the fake or fraudulent links start with ‘http://’. They miss the ‘s’ at the end which denotes that the page is secured with encryption. You need to beware of such websites.Do this to protect yourself from phishing attacks: Safeguard your  personal information: Always remember that marquee and recognised  organizations will never ask you to provide personal information like passwords, PINs, or social security numbers via email or text.. Never share your password, passcode, M-PIN, PIN, CVV or OTP despite their claims to be speaking from any organization, even Paytm. Make sure two-factor authentication (2FA) is enabled: make sure you enable 2FA wherever available. This adds an extra layer of security by requiring a second verification step, such as a unique code which is sent to your registered mobile number, in addition to your password. Paytm Money users can turn on 2FA to get an OTP every time they log in to access their Equity section. All you need to do is verify and update your phone number and email id in the ‘Profile’ section of ‘Paytm Money – Stocks’ page. The OTP will be sent to your email address and registered mobile number. Register for instant alerts and keep your devices  up to date: Regularly update your mobile device’s operating system, apps, and security software to protect against known vulnerabilities and exploits. Keep an eye on your bank statements for any irregularities. Register for instant alerts (both SMS and Emails), to remain up-to-date with your bank account transactions. Be informed and updated to stay safe : Knowing about the techniques being used by cybercriminals to fool people will help you stay protected from them. Keep yourself updated  with the latest phishing techniques and trends. Also, educate your family members about phishing attacks and how they can be avoided.Victim of Phishing Attack? Here’s how you can reportIf you believe you have fallen victim to a phishing attack, it is crucial to report it immediately.  You can contact us on our IVR help desk number or reach out to us from the ‘Help & Support’ section on our Paytm app. For more assistance and information click on the link- https://www.paytmbank.com/Policies/Customer-Grievance-Redressal-Policy-for-Paytm-Payments-Bank. You can visit the cybercrime portal at http://cybercrime.gov.in/ and report the complaint. The Cyber Crime Helpline number is 1930. You can also give us a call at 1800 120 130 to report fraud.Stay Aware, Stay Protected Once you fall victim to a phishing attack, it can pose a significant threat to your security and you may end up losing your hard earned money. Therefore it is important to familiarize yourself with the signs of phishing attempts, implement preventive measures, and report phishing crimes (if it happens), to stay protected and help create a safer digital environment. Remember, being aware and staying alert can safeguard your personal and financial information from fraudulent activities.