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September 28, 2020

Bank scams

Newspost

 
September 28, 2020

Instances of bank scams are on the rise these days. Social media is flooded with customer complaints. The other day, I was also targeted by one such scam scheme. I recently received a message from the official number of an online payment platform. It contained an OTP for a transaction. At first, I ignored the message, but shortly afterwards I received a call. The caller had a strange story about how he had sent money to the wrong number by mistake and would be grateful if I could send it back. I was intrigued because at the end of the message which contained the OTP, it was clearly stated that I should not share the OTP with anyone else. I called the respective bank’s helpline and they said that I did the right thing. They instructed me to ignore the caller and the messages as this is a common scam these days.

Digital banking platforms are encrypted with multiple security protocols to ensure the safety of accounts as well as all transactions. Scams occur when people fall for fraudulent tactics. Even though banks and other financial institutions are playing their role in minimising the risk of such fraudulent activities, we also have to stay vigilant as this is the only way of protecting ourselves from such scams.

Muhammad Alamgir Khan

Islamabad