Using your credit card not only brings convenience but also comes with attractive perks like discounts, special offers, and reward points offered by banks. These reward points can translate into significant financial benefits. However, it’s important to stay alert, as there are scammers who may try to trick you with promises of additional points or help in redeeming existing ones.
Axis Bank’s Cautionary Advisory
Axis Bank has issued a cautionary advisory urging its customers to remain vigilant against deceptive tactics employed by scammers. They have highlighted various ways for customers to identify these scams and protect themselves from falling victim.
How to Spot and Avoid Scams
To protect yourself, watch out for the following signs of scams:
1. Vishing Calls
Be wary of fraudulent calls that pretend to be from banks or companies, aiming to trick customers into revealing their credentials and OTPs to steal sensitive information.
2. Phishing Links
Stay cautious of fraudulent emails or SMS claiming to be from your bank or service provider, often containing deceptive links to obtain your confidential information.
3. Toll-Free Number Spoofing and Fake Customer Care Numbers
Scammers may use webpages, social media platforms, or search engines to trick customers into making calls and sharing sensitive credentials.
4. Remote Access Applications
Avoid downloading apps that claim to provide remote access to your device, as fraudsters can misuse this access to obtain your card credentials and OTPs.
How to Safeguard Yourself
Follow these steps to stay protected:
Do Not Share Personal Details
Refrain from sharing personal details, card credentials, or OTP/PIN/CVV over unsolicited calls.
Exercise Caution
Take a moment to think before responding to anything that appears too good to be true.
Use Official Channels
Utilize your bank’s official website or helpline to securely check and redeem your reward points.
Reporting Fraud
In case of any financial or cyber-related crimes, report them immediately to the Ministry of Home Affairs (MHA) – National Cyber Crime Reporting Portal through their toll-free helpline number ‘1930’ or website https://cybercrime.gov.in. Additionally, promptly block your credit or debit card if you suspect fraudulent activity.
By staying vigilant and following these guidelines, you can protect yourself from falling prey to credit card scams.