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Is it risky to save card details on mobile apps?

Crooks use foreign websites to carry out transactions, since OTPs aren’t required there

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In today's cashless society, people are falling prey to unique tricks of cyber fraudsters who are coming up with new techniques every day to siphon off your money.

In a recent case, two people were duped by a cyber fraudster from the US.

According to the complainant, Chandresh Shrivastava, he never shared his card details with anyone nor did he receive any call asking for his card details. He would only carry out transactions online and had saved his card details on those applications for quick payment. The victim approached Versova police and lodged a complaint with them. The complainant claims that his card details were acquired through the mobile app. "I thought saving card details is a safe option and there is no risk involved since the CVV number is required for every transaction. However, on Thursday, I suddenly started receiving messages mentioning two transactions of 600 Chinese yuan (Rs 6,000) were carried out. The bank blocked my card as they found the activity suspicious. Though the amount stolen is insignificant, it brought to fore the risks involved in saving details on a mobile app," Shrivastava said.

In another similar incident, Rakesh Anand, lost 10,000 Chinese yuan. "I had also saved my card details on mobile apps and started receiving messages suddenly. I lost Rs 1 lakh and had approached BKC cyber police station, but they directed me to a local police station. I have been running pillar to post since," he said.

Almost hundreds of such complaints have been registered by the Mumbai police recently.

"The cyber crooks use foreign websites or servers to carry out transaction, since 'one-time passwords' aren't required in foreign countries. We have received several such complaints," said a senior IPS officer from Mumbai crime branch.

The Cyber experts are advising people to not to save their card details on any mobile wallet or application for quick transaction.

Cyber expert Shubham Singh said, "App users must be very cautious and alert. One should never save their credentials of e-wallets on any gateways or other platforms. It is risky. One must use official websites to use any app-related banking service, and avoid using third-party applications to avoid data breach."

BEWARE!

  • Crooks use foreign websites to carry out transactions, since OTPs aren’t required there.
     
  • Cyber experts are advising people to not to save their card details on any mobile wallet, app.
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