RBI warns to be better safe than sorry
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Arushi Kapoor
- 23 Jul 2020
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- 23 Jul 2020
Witnessing one of the dreadful cyber attacks when Twitter accounts of some of the global prominent figures like Elon Musk, Jeff Bezos, Bill Gates & Barack Obama were compromised to promote a bitcoin scam, the Reserve Bank of India has warned people against cyber crime.
RBI by way of a tweet has asked the consumers not to share their One Time Password (OTP), UPI PIN & other bank details as that can be exploited by fraudsters to widraw money using Virtual Payment Account (VPA).
No doubt where digital technology has interconnected the world into a global village it has enmeshed the world economies due to vulnerability to cyber-crime & data breaches. In fact, according to a 2017 report, Indian consumers had lost over 18 billion U.S. dollars due to cyber-crimes.
Our adaptation of the digital world & accelerating cyber-crime concerns has made cyber-security mandatory for all of us. Here is a brief look at some of the cyber-security best practices:
1. Use strong & Unique passwords
Most of us use a simple password like 123456 which is a cake walk for the hackers. Try to use numbers, symbols & make it at least 14 characters.Make sure you change default passwords. A password manager program can help you create and remember complex passwords.
2. Avoid using Public Wi-Fi
No matter how tempting it is for you to use a public wi-fi, control yourself. You never know who can have access to your personal information. There is a wide range of free & paid VPN options available that can safeguard your data while connecting to a public wi-fi.
3. Beware of phone scammers
Banks, credit card & insurance companies never call to ask your personal details , pin or OTP. Make sure you contact customer care in case of an emergency.
4. Protect your gadgets
Make sure you update all your applications & systems and install an antivirus software. Wipe out all personal information from your old devices before you replace them.
RBI by way of a tweet has asked the consumers not to share their One Time Password (OTP), UPI PIN & other bank details as that can be exploited by fraudsters to widraw money using Virtual Payment Account (VPA).
No doubt where digital technology has interconnected the world into a global village it has enmeshed the world economies due to vulnerability to cyber-crime & data breaches. In fact, according to a 2017 report, Indian consumers had lost over 18 billion U.S. dollars due to cyber-crimes.
Our adaptation of the digital world & accelerating cyber-crime concerns has made cyber-security mandatory for all of us. Here is a brief look at some of the cyber-security best practices:
1. Use strong & Unique passwords
Most of us use a simple password like 123456 which is a cake walk for the hackers. Try to use numbers, symbols & make it at least 14 characters.Make sure you change default passwords. A password manager program can help you create and remember complex passwords.
2. Avoid using Public Wi-Fi
No matter how tempting it is for you to use a public wi-fi, control yourself. You never know who can have access to your personal information. There is a wide range of free & paid VPN options available that can safeguard your data while connecting to a public wi-fi.
3. Beware of phone scammers
Banks, credit card & insurance companies never call to ask your personal details , pin or OTP. Make sure you contact customer care in case of an emergency.
4. Protect your gadgets
Make sure you update all your applications & systems and install an antivirus software. Wipe out all personal information from your old devices before you replace them.
