All those who hold an account in the State Bank of India (SBI), the bank is warning its users about the suspicious WhatsAppmessages that might trick to them to share personal banking details.
SBI said that it is aware of some account holders receiving messages on WhatsApp and other social media platforms “advising” them on OTP (One Time Password).
Here is everything you need to know about the new type of WhatsApp scam.
#1. The scam deals in educating users about OTPs first and then winning the victim’s trust, so that they share the real OTPs.
#2. The WhatsApp message, in some cases, comes with a link that simply installs a malicious app in the background. This malicious app is then used to harvest OTPs from the phone. But then it is the second part of the scam.
#3. At first, the fraudster posing as a bank employee talks about renewing or upgrading existing debit/credit card of the victim
#4. The fraudster asks for debit/credit card number, CVV, expiry date of the existing card to upgrade it to a new card
#5. After this, the fraudsters tells that the victim will receive an SMS or WhatsApp message to confirm the card upgrade
#6. Now, this is second part of the scam. This SMS or WhatsApp text comes with a link which the victim unknowingly happens to click to confirm the card upgrade
#7. The link on SMS simply installs a malware on the victim’s phone that redirects all OTP SMSes to the fraudster’s phone
#8. As the fraudster already knows the card details (CVV, expiry date and card number) of the victim, he initiates unauthorised transactions
#9. To authenticate the transaction, the moment the OTP reaches the victim’s phone it gets redirected to the fraudster’s phone through the malware. Once the fraudster gets the OTP, the transaction is then easily verified
#10. In case of fraud, you can claim refund if you report the matter within 3 working days. To report, you can call at 1-800-111109 and share details about the fraud officially with the bank. You can also send an SMS by typing “Problem” and sending to 9212500888 or report on Twitter @SBICard_Connect.
#11. As per SBI, if any fraud is due to some fault of SBI’s then the customer will get full compensation even if the fraud is not reported.
#12. The loss will not be refunded if the loss is due to his/her negligence or if he/she has willingly shared personal banking details.