A new year marks the start of fresh goals and increased discernment. This is used in a variety of areas in people’s lives, but money management is the most significant one. These goals could include budgeting carefully, staying vigilant Against Cyber Fraud, making wise investments, and much more.

It is crucial to take into consideration some other behavioral tendencies that result in deficiencies in money management when making these decisions.

For example, feeling compelled to reply to an ostensibly “urgent” text concerning an issue with your bank accounts and, regrettably, losing hard-earned money to scammers.

In the modern world, when technology has advanced to the point where cybercriminals can use it in cunning ways, the bank bears responsibility for encouraging customers to give their financial management more attention. One such bank that uses a variety of security measures to protect customers’ valuable financial resources is HDFC Bank.

It uses the strictest security protocols to ensure that users of its digital properties—such as mobile and net banking—remain safe.

How HDFC Bank guards your funds against Cyber Fraud?

1. IVR 3D Secure:

This extra security layer protects customers using their debit or credit cards at any retail location via an interactive voice response system or mobile app. Customers must authenticate their payments with a password created via SMS or the HDFC Bank website, protecting them from any misuse.

2. NetSafe:

The world of online purchasing has taken off! People frequently fear that credit card or debit card credentials will be misused by thieves. But HDFC Bank addresses this problem with NetSafe. Instead of using the actual numbers, a distinct virtual card is created and can be used to make online payments.

3. OTP:

OTP uses two-factor authentication to secure user transactions, so you can pay with confidence. Customers will receive a one-time password whenever they check out on a website. This makes it even harder for users to fall victim to phishing attempts because each transaction requires a unique message that needs to be validated.

4. Virtual keyboard:

Users can enter their login credentials and protect themselves against malware by using a virtual keyboard.

HDFC Bank has also implemented RASP (Runtime Application Self Protection) as an additional safeguard. This guards against fraud using screen-sharing apps on people’s apps. By blocking remote access, it is made sure that no important information is disclosed.

In addition to these precautions, HDFC Bank has launched “Vigil Aunty,” the nation’s first influencer dedicated to raising fraud awareness. The intention is to encourage customers to protect their funds from financial scams. Send her a hello over Whatsapp to join Vigil Army, and follow her on Facebook at @VforVigilAuntyOfficial and Instagram at @VforVigilAunty.

Decide to spend your money more wisely and safeguard your savings in the new year.

SOURCE: https://timesofindia.indiatimes.com/business/dontgetscammed/news/this-new-year-resolve-to-be-more-mindful-about-your-finances-and-stay-vigilant-against-cyber-fraudsters/articleshow/106352828.cms?from=mdr