Aware Five Types of Financial
frauds..!
1 Phishing..!
An authentic looking email will typically
direct the user to a bogus website where the user will be prompted to update
sensitive personal information, like as password to a bank account.
2. Vishing..!
Such frauds involve phone calls. A call from someone
pretending to be your bank or / credit card executive will give an offer and
the caller will seek personal data for `verification'.
3. Smishing..!
Frauds through Short Message Service (sms).
An sms is received from
someone pretending to be your bank or / credit card company with an offer or
for verification where they ask for personal data.
4. Skimming..!
The debit credit card is swiped at a card
copier & the details contained in its magnetic strip are copied onto
another blank card & then used for transactions.
5. Carding..!
The process of verifying the authenticity of
the stolen data of the debit / credit cards.
It is first used for a
small purchase. If it is successful, it is used for big amounts.
Courtesy : Centre for
Investment Education and Learning (CIEL).
Contributions by Girija
Gadre, Arti Bhargava and Labdhi Mehta.
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