Mr. Vijay, a 65-year-old retired teacher, enjoys staying connected with his family through WhatsApp. One day, he received a message claiming his e-KYC was expiring and urging him to update his details via a provided link to avoid account deactivation. Trusting the seemingly professional message, he clicked the link, entered his banking details, and even shared an OTP.

Minutes later, a huge sum of money was drained from his account through multiple transactions.  A panicked, Mr. Vijay contacted his bank, only to learn that the message was not sent by them and was a WhatsApp phishing scam. Alas! he should have contacted his bank before clicking on the link to verify the authenticity of the WhatsApp message.

In today’s ever connected world, cyber frauds are becoming increasingly sophisticated. Owing to the whopping popularity of WhatsApp across all age groups, one of the popular fraud tactics are WhatsApp phishing scams. Here fraudsters present themselves as legitimate banking entities to gain access to your personal and financial information.

Cybercriminals often exploit platforms like WhatsApp to send fraudulent messages, mimicking authentic communication from banks. These messages may claim urgent actions like e-KYC updates, and ask you to click on suspicious links or download malicious APK files to complete the process. Here's how to spot the fake:

• Absence of Verification Badge - Always check if the account is verified with a Verification Badge (blue tick), especially for WhatsApp banking accounts.
• Suspicious links alert - Do not click on unverified links. These often lead to sites designed to steal your credentials or infect your device with malware. They often come disguised as a trustworthy source by using names and logos of popular banks, government entities such as UIDAI etc…
• Warnings- When a customer clicks on an APK file received via WhatsApp, Android will display a warning: “This APK file might be harmful to your device”.
• Permissions - Once installed, the app will request permissions to access phone calls and SMS. By granting these permissions, the app can read sensitive information such as OTPs and private messages.
• Grammar errors - Many fake messages contain grammatical errors or spelling mistakes, a tell-tale sign of a scam.

To ensure secure online transactions and protect your bank account security, follow these essential tips:

• Verify messages - Confirm the sender's authenticity. Legitimate banks, such as South Indian Bank, use verified WhatsApp accounts.
• Protect personal information - Never share sensitive information like Aadhaar numbers, OTPs or bank details over WhatsApp or email.
• Avoid online fraud traps - Be wary of messages creating urgency or offering rewards.
• Use secure banking tools - Activate features like the SIB e-Lock facility in the SIB Mirror+ app to lock your account instantly if suspicious activity is detected.

If you encounter suspicious activity or receive fake WhatsApp messages, act promptly.

• Contact your bank's customer care support. For example, South Indian Bank provides round-the-clock assistance via 1800 425 1809.
• Report the incident to the National Cyber Crime Portal helpline at 1930.
• Use online fraud reporting platforms to escalate the issue to relevant authorities.

South Indian Bank prioritizes your safety by offering innovative tools and awareness initiatives to prevent cyber frauds,

• SIB Mirror+ App - Simplifies fraud prevention with the e-Lock facility for added security.
• Customer care support - Ensures quick assistance in case of cyber fraud reporting.

With the rise of WhatsApp scams and internet scams, your vigilance is your first line of defense. Always be cautious of fake banking messages and use trusted channels for communication. Remember, safeguarding your financial assets begins with cyber fraud awareness and adopting secure banking practices.

For more safety tips and support, reach out to South Indian Bank and explore tools like the SIB Mirror+ app and keep your banking secure.

Disclaimer: The article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of The South Indian Bank Ltd. or its employees. The South Indian Bank Ltd and/or the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial/non-financial decisions based on the contents and information’s in the blog article. Please consult your financial advisor or the respective field expert before making any decisions.