Tips to keep your money safe from cyber scams; Beware of this latest scam

These days Cybersecurity has become a big challenge. Every second day we hear about various cyber-attacks. The latest one that's been going around includes UPI-based transactions to get hold of someone's bank account and loot entire bank balance. And this is done in such a way that anyone can be fooled very easily.

The new scam involves the scammer who tricks the victim into installing an app that allows remote control of the victim's device and gains access to all OTP-based transactions. The victim can be deceived into believing that it is a call from the bank and will intelligently collect all the necessary details. An essential step is a scammer makes the victim install the AnyDesk app that helps with this fraud.

How does this scam work and how you can avoid it?

 For doing any fraud, the scammer needs to gain access to the victim's credentials. The scammer will pretend to be the bank employee trying to reach the customer to fix something about the bank's native app.

 Once the scammer starts a conversation, he/she asks the person to install the AnyDesk app from the Google Play or Apple App Store. The AnyDesk app allows remote access to the device from another device, and the person can gain control over all the data this device has.

 After the app is installed, a 9-digit code is generated, which is crucial for the scammer. And once the victim gives the app all permissions to access other parameters of the device, the phone is in complete control of the scammer.

 With complete access to the device, the scammer will take the PIN and passwords of the mobile banking app.

 With the fraud technique, the scammer also gathers details of UPI payment services and credentials of the debit card, credit card, net banking password, MPIN and other stuff. The scammer can even send an SMS which will be asked to forward to another number – in this way gets hold of the UPI payment registration.

What should a victim do?

 First, check all recent transactions and bank balance.

 If you have recently given access to the scammer, immediately visit your nearest bank branch and lock down all transactions.

 Uninstall the remote control app and do a full factory reset on the device, deleting all apps and data.

 Change all passwords of you UPI accounts or other financial accounts.

How to stay away from scams

 Please remember that your data is personal and shouldn't be shared with anyone else - Never share your passwords and OTPs.

 Never install a third-party app if someone asks you to. Don't forward any SMS from an unknown source or open a link sent through one of these links.

 Don't store your financial credentials on your mobile device.

Scammers always come with smart ways to fool innocent people and deceive them. You can stay safe, if you don't share any of your details and credentials with anyone, No matter how smart may be the scam.