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Protect Your Bank Accounts From Fake Callers

This call is to verify your account details, if you do not verify your account will be closed.

For security purpose, kindly update mobile number XXXXXX1357 in your account using ATM/Debit Card on IVR

Your account will be deactivated, unless you do…

Your Reward Points will expire in next month, to use it…

Bank is offering you an upgrade of your Debit Card…


Their sole purpose is to extract confidential details of your bank account, which can then be used to fraudulently transfer money from your account.  

If you receive any such calls or emails, please (please) ignore them.

REMEMBER: No bank will EVER ask you to reveal the User ID, Password, PIN, OTP, Grid Values on your debit card, CVV or any other sensitive information about your bank account.

Warning bells should start ringing in your ears, as soon as someone tries to extract your secret bank details.

In fact, I would like to share a real-life incident, narrated to me by one of my blog readers.
  1. I got a call from somebody saying that he was the Manager, XXX Bank, Credit Card Department.
  2. To look genuine he said some of the lines which usually the actual call centre guys ask. He said do not disclose your card number, PIN or CVV.
  3. He asked whether mine was a debit or credit card.
  4. He asked my date of birth.
  5. You know I answered him all. But fake data. Why? First of all I never had any XXX Bank Credit or Debit card. Just wanted to explore what do they do to dupe people. I was surprised.
  6. He said by paying say some INR 3000 I can get host of facilities worth of INR 50000 as a part of some promotion for some lucky XXX Bank Credit Card holders.
  7. He said once he is done with the call the call will be transferred to his boss who is the marketing head of the cards department. Really it happened, where the other guy asked the same thing. He even asked hope our sale representative has not mis-sold you anything. Then he said the control will go to IVR where I can complete my transaction.
  8. Next I heard some instructions over IVR. It asked my 16 digit card number, CVV etc.
  9. I entered wrong data. I got scared and dropped the call in between. Next moment I got a call from the technical team that if I faced any problem to complete the transaction. They reconnected me to the IVR again. I entered the wrong data again and completed the transaction. To my surprise the IVR accepted all the fake data with message as "Successful".
  10. Thankfully I was able to identify the fake call. These fraudsters are using even IVRs for duping people.
As you can see from the above example, how intelligently the fraudsters were extracting sensitive details. I am sure they would have later used the information collected to conduct fraudulent transactions. Luckily the information was wrong, so no damage was done.

In this case, my blog reader fooled the fraudsters. But not all are as lucky. Practically every day I read newspaper reports, of unsuspecting people being duped through such phishing / vishing tactics.

REMEMBER: The fraudsters are very (very) smart. Therefore, if we have to protect our money from falling into wrong hands or going into wrong accounts, we have to be lot more smarter.

You should NOT disclose any details of your bank account to any person... not even to bank's CEO. You should NOT be moved by any amount of threat, temptation, fear or greed.

I am 100% certain that you don't hand over your house keys to a stranger. Likewise, don't hand over the key to your bank account to strangers.

If there is any "genuine" problem, it is best to go the branch and resolve it.

As is often said 'Better Safe Than Sorry'.

Meanwhile, in case you missed, do pay heed to the Warning! You will lose your money in a scam.

Last but not the least, please explain and warn your spouse, children, parents, friends, colleagues etc. about such phishing / vishing attacks.

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