Simple Tip to Safeguard Yourself From Online Fraud

There is no doubt that the majority of our day-to-day transactions happen online these days. With the arrival of UPI, online transactions have reached an unprecedented scale from where there is no turning back. Since it’s easy for people to transact online, that makes it very lucrative for people with bad intentions to also take advantage of this convenience. No matter how much awareness is spread around to safely transact online, people are getting duped all the time.

I have noticed a common pattern across online frauds. A fraudster creates a sense of urgency and leads the person to make a silly mistake. They make sure that you don’t get enough time to think. Interestingly, fraudsters target a large subset of people as the chances of anyone getting trapped are quite slim. So they aim to gain as much money as possible in every shot! In other words, they dupe users who have a good bank balance and who commonly do large transactions online.

I’m going to share one simple safety tip here that could save you (or at least give you enough time to clearly think) from getting into the fraudster’s trap. Here’s the tip:

Apply Transaction Limits on your Debit/Credit Card and Account

That’s it! It’s that simple. You would be surprised that the majority of people don’t even know about this feature, let alone use it. What’s great about this feature is you can apply specific limits for each transaction mode such as Swipe, online, etc.

All of these limits can be changed at any time using net banking or a mobile app.

Bonus Tip: Turn off the transaction modes that you rarely use on your card. For example, I'm never going to withdraw cash using my credit card, I have disabled that transaction mode completely. 

Hope it helps.