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Today our office cleaning lady was very worried .On enquiry we were told that her son got his first salary which was credited to his Bank of India account. But when he went to withdraw the amount, there was no balance; it has already been withdrawn. On further enquiry he revealed that someone asked him his debit card number for reissuing a new card and after some time also asked to share the  OTP which was just sent. Ignorant of the risk, he shared the details.

The long queues before ATMs and Bank branches for exchange, deposit and withdrawal of cash has made everyone realize that electronic transactions are much convenient. But it has its own risks of frauds . We describe herewith the various frauds in online transactions and precautions to be taken. Card frauds basically involve theft of identity or information on your card.

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