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In the era of internet banking and digital e-commerce, it is very important for you to be careful. Since the corona virus, there has been a tremendous increase in the cases of digital fraud. Meanwhile, the country’s largest lender, State Bank of India (SBI) has cautioned customers to avoid instant loan apps. The bank has also suggested some necessary measures to the customers to avoid this big financial risk.
“Please avoid clicking on suspicious links or providing your information to companies posing as banks or financial companies. Report cybercrime at cybercrime.gov.in,” the bank tweeted. Instant loan apps, especially those originating from China, are a threat to the government as well as the Reserve Bank of India (RBI), with several complaints received against them.
In the last few days, there has been an increase in cyber crime cases and extortion from hapless borrowers. For this, the Reserve Bank has also asked the customers to be careful. Along with this, the Finance Ministry is also taking action on these fake apps and advising customers to be careful.
Sharing some security tips, SBI suggested that it is always better to check the authenticity of an app before downloading it. There are a lot of illegal apps that can trap users and siphon off money from their accounts. SBI said customers should not click on suspicious links and exercise their discretion to avoid falling prey to unauthorized apps.
The bank further warned to check app permission settings to avoid theft of your data and in case of theft, such cases should be reported to local police authorities.
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