This is a perfect section for you if you are interested in enhancing your knowledge about Financial Matters. A few tips and tricks about Investing, Shares, Mutual Funds and Money Saving Schemes.
ImageTo avoid frauds in online transactions, the Reserve Bank of India (RBI) has advised banks to undertake the following risk mitigation for online card transactions:

A system of providing for additional authentication/validation based on information not visible on the cards for all online transactions; and

A system of 'online alerts' to the cardholder for all transactions of the value of Rs 5,000 and above.

By taking certain precautions, users can prevent their credit or debit card from being misused both online and offline:

a. Do not provide photocopies of both the sides of the credit card to anyone. The card verification value (CVV) which is required for online transactions is printed on the reverse of the card. Anyone can use the card for online purchases if the information is available with them. Do not click on links in emails seeking details of your account: they could be phishing emails from fraudsters. Most reputed companies will ask you to visit their website directly;

b. While using a credit card for making payments online, check if the website is secure. The address bar will begin with "https". The CVV will also be required;

c. Do not give any information to persons seeking credit card information over the phone.

d. Notify your bank/credit card issuer if you do not receive the monthly credit card statement on time. If a credit card is misplaced or lost, get it cancelled immediately.
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