Over time, banking methods have undergone significant changes, with digital banking emerging as a vital component of daily life.
However, along with its widespread adoption, there has been a surge in digital fraud related to banking activities.
Rising Threat of Digital Fraud
With the rise in digital banking, there has been a corresponding increase in fraudulent activities targeting bank customers.
Major banks, including the State Bank of India (SBI), have issued warnings to their customers in response to this growing trend.
SBI’s Cautionary Advice
SBI, the largest public sector bank in the country, has cautioned its customers regarding the receipt of SBI Reward Points via third-party Android Application Package (APK).
The bank emphasizes the need for vigilance in this regard.
In light of numerous reported cases, SBI urges its customers to exercise caution, particularly when prompted to download third-party mobile applications.
Fraudsters exploit such downloads to gain unauthorized access to customers’ personal information, leading to instances of banking fraud.
ICICI Bank’s Precautionary Measures
ICICI Bank, alongside SBI, advises its customers against downloading APK files without proper verification.
Additionally, the bank stresses that it never solicits customers to download apps for KYC updates.
Axis Bank’s Protective Measures
Axis Bank, a prominent private sector institution, warns its customers against investment and task-based scams.
It advises customers to refrain from sharing their financial or personal information with unauthorized sources.
PNB’s Vigilance Advisory
Punjab National Bank (PNB), a key public sector bank, cautions its customers to beware of fake web links.
The bank underscores the importance of avoiding clicks on unverified links to safeguard against potential fraud.
By heeding these warnings and exercising caution, customers can better protect themselves from the increasing threat of digital banking fraud.
