The South Indian Bank's "FIGHT" campaign is designed to protect customers from cyber frauds by addressing the common tactics used by scammers: Fear, Ignorance, Greed, Haste, and Trickery. Each of these vulnerabilities is exploited by fraudsters to deceive individuals. Through this campaign, customers are encouraged to stay vigilant and informed, ensuring safer digital banking. In this blog series, we will explore each element of FIGHT, starting with Fear.
The FEAR route
Fear is one of the most powerful tools used by scammers to manipulate individuals into making rash decisions, often leading to financial loss. A common example of fear-based scams is the courier scam, where fraudsters pressurise victims with the threat of legal action. But you can protect yourself by staying informed and calm.
How Scammers Use Fear
Scammers typically employ fear tactics by pretending to be authoritative figures—such as law enforcement officers or representatives of legitimate companies. They create urgency and panic by threatening consequences like legal action, fines, or account suspension. In courier scams, they may claim that illegal items have been found in a package addressed to you, pressurising you to pay a "fine" to avoid further legal trouble.
Spotting Fear-Based Scams
- Initial contact - Scammers often pose as police officers or representatives from courier companies, telling you about suspicious or illegal items in a package.
- False allegations - They falsely accuse you of being involved in illegal activities and claim to have evidence linked to your personal information.
- Fear tactics - By threatening criminal charges or jail time, they create urgency, hoping you’ll act without thinking.
- Pressure -They present you with a "final chance" to avoid legal consequence by transferring money immediately.
How to Protect Yourself
- Verify and report - If you receive a suspicious call or message, do not panic. Verify the information with the official company or police through trusted channels. Always report such attempts to the authorities.
- Stay calm - Legitimate authorities will never request immediate payment over the phone. Scammers want you to act in haste, but taking your time to verify details will protect you from fraud.
- Use security features - Secure your account with South Indian Bank’s e-Lock facility on the SIB Mirror+ app. With just one click, you can lock or unlock your account, adding an extra layer of protection from unauthorised transactions.
Avail safe banking with South Indian Bank today.
Click here to open an account.
South Indian Bank: Your Partner in Safety
South Indian Bank remains committed to safeguarding your digital banking experience. Stay informed about the latest cyber scams and avoid falling victim to fear tactics used by scammers. If you encounter any suspicious communication:
- For South Indian Bank Customers: Immediately contact us at 1800 425 1809 for assistance, and use the National Cyber Crime Portal helpline at 1930 to report the incident.
- For Non-Customers or Other Cyber Fraud Cases: Use the National Cyber Crime Portal helpline at 1930 to report the incident.
Make sure you download the
SIB Mirror+ app today and activate the
e-Lock feature to safeguard your accounts from fraudsters. Stay safe and secure with South Indian Bank!
Also read:
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.