Financial Frauds - Must Read all
The financial fraud survey of LocalCircles is very very relevant and you may only realise it when something happens with you.
https://www.localcircles.com/a/press/page/financial-fraud-survey-india
Here is How my friend’s mother’s Saving Account was drained by a hacker with the help of aadhar card. Here is how it happened:
Last Month friend went to PNB Bank for mother passbook entry. He noticed 0 balance in Account.
After that he asked the banker why it’s showing 0 balance and called immediately to his mother & explained she has 0 balance. She said I have never withdrawn any money, how come it is showing 0?
After sometime she came to bank along with him and they had a discussion with bank manager.
Bank Manager replied: “Someone drained this account by using Aadhar card fingerprint from Bihar
Friend said we have never shared our Aadhar card and OTP with anyone how it can be hacked.
He said here are lot of cases where hacker copied/clone finger print from plot/flat registry documents.
When asked where is our fault? Is money not safe in bank ?
This is the banking system’s failure, if someone is doing continued transactions using finger print with different -different location why bank is not blocking account access?
After detailed discussion the manager said only one thing to them:
This is not in my hand i can only write a complaint if you will first file police report
Here is the key lesson:
Must turn off aadhar biometric authentication. By default it's on.
Hacker can easily clone fingerprint and access bank account with different location. more
https://www.localcircles.com/a/press/page/financial-fraud-survey-india
Here is How my friend’s mother’s Saving Account was drained by a hacker with the help of aadhar card. Here is how it happened:
Last Month friend went to PNB Bank for mother passbook entry. He noticed 0 balance in Account.
After that he asked the banker why it’s showing 0 balance and called immediately to his mother & explained she has 0 balance. She said I have never withdrawn any money, how come it is showing 0?
After sometime she came to bank along with him and they had a discussion with bank manager.
Bank Manager replied: “Someone drained this account by using Aadhar card fingerprint from Bihar
Friend said we have never shared our Aadhar card and OTP with anyone how it can be hacked.
He said here are lot of cases where hacker copied/clone finger print from plot/flat registry documents.
When asked where is our fault? Is money not safe in bank ?
This is the banking system’s failure, if someone is doing continued transactions using finger print with different -different location why bank is not blocking account access?
After detailed discussion the manager said only one thing to them:
This is not in my hand i can only write a complaint if you will first file police report
Here is the key lesson:
Must turn off aadhar biometric authentication. By default it's on.
Hacker can easily clone fingerprint and access bank account with different location. more
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Shift in Bank Transactions using finger print must need authentication.If i startr using Figer print in stead of signature, my Bank wouldask me to authenticate my current finger print (And may even need a witness) to update their records. In the case cited the shift from use of signature to finger print indicates connivance of some Bank employee and the complaint to Bank and even to RBI should incude this possibilityvery clearly more
Feb 18
In a conference, a cybersecurity expert advised: For saving yourself from cyber crime 😞 1 Do not respond any unknown call or link sent on email. 2 Go to bank personally for any kind of updation of personal information. 3 Keep minimum balance in the Bank account with ATM card ♦️. 4 Do not share ATM password or OTP with anyone. Not with your nears and dears even. 5 Never mind to take extra precautions to save yourself from cyber fraud 🙏. For example: Be alert when someone asks your bank details, ATM number and CBC. If you do so, you are trapped. 6 Extortion and blackmailing is aplenty online. So, do not enrer into any friendship online unless you know personally the person and his family off line. हाथी के दांत खाने के और, और दिखाने के और। बचें। Alertness saves. सावधानी ही सुरक्षा है। संभलना आपको है। more
May 11
How to turn off aadhar biometric authentication if by default it's on? Please enlighten us on the group. more
May 10
It is very difficult to eliminate Cyber crimes. Banks do not have the capability to stop this though they try. The Privacy and Security system is nit very robust. Digital transformation is picking up and these types of fraud will happen. One has to be extra cautious. You can look into having 2 bank accounts, change your passwords often, do not use the same passwords for all your email, bank account etc. , requests 2step authentication, set limit for daily transaction amount. more
May 08
