In the digital age, fraudsters are constantly fidgeting with the technology to make it work to their advantage. They misuse the same technology which was supposed to make users lives easier, to deceive them. South Indian Bank’s FIGHT campaign aims to educate customers to recognise and resist common fraud tactics. The campaign addresses the five psychological triggers scammers often exploit—Fear, Ignorance, Greed, Haste, and Trickery—to create awareness and help you safeguard your finances.

Let’s explore how fraudsters take advantage of human Ignorance, not always casual, but one which cannot fathom the technology on which the scams thrive.

Ignorance, or the lack of awareness, is one of the biggest enablers for scammers. Many victims of fraud fall prey not because they are careless, but because they simply don’t know how modern scams operate.

Scammers use a variety of tactics to exploit gaps in customer knowledge, like

• ATM skimming devices - Many people are unaware that small, discreet devices can be placed over the card slot of an ATM. These skimming devices capture card details, allowing fraudsters to create cloned cards and steal money from unsuspecting users.
• Jammers in ATMs - Fraudsters may use jamming tools to block the cash dispenser or card reader, leading customers to believe the machine has malfunctioned. In confusion, users may insert their card multiple times or leave the area without reporting the issue, giving fraudsters time to act.
• Fake customer care numbers - Ignorant users may rely on customer care numbers found via random web searches. Fraudsters often plant fake numbers online, tricking customers into calling them and divulging sensitive information like PINs, OTPs, or account details.

Being alert and aware, learning from others experiences, updating your banks app to install latest safety features can help keeping fraudsters at a bay.

The good news is that ignorance can be replaced with awareness through continuous learning. Here’s how you can protect yourself from scams:

• Inspect ATM machines before use - Always check for any loose or suspicious components near the card reader. If the ATM looks tampered with, avoid using it and report the issue to the bank immediately.
• Stay updated with bank alerts and notifications - South Indian Bank regularly shares updates on fraud trends through its website, mobile app, and social media channels. Make it a habit to read these updates to stay ahead of new scams.
• Verify contact numbers from official sources - Always refer to the bank’s official website or app for customer service numbers. Avoid relying on search engine results or random forwarded messages.
• Leverage the e-Lock facility - Use the e-Lock feature available in the SIB Mirror+ app to secure your card when not in use. This adds an extra layer of protection and ensures that your card remains inactive unless you enable it.
• Report suspicious activity promptly - If you encounter a suspicious ATM or receive a fraudulent call, report it to South Indian Bank’s helpline at 1800 425 1809 or the National Cyber Crime Portal at 1930.

Explore secured and safe banking with South Indian Bank. Open an account today!

Ignorance may seem harmless, but in the world of fraud, it can lead to significant financial loss. With South Indian Bank’s FIGHT campaign, the focus is on transforming ignorance into knowledge. Staying informed about scams, learning to detect fraud, and using digital security tools can keep you one step ahead of scammers.

Remember, knowledge is power, and awareness is your best defense against fraud. Take control of your financial security today—stay aware, stay safe, and continue the FIGHT against fraud with South Indian Bank.

 Also read:

FIGHT Against GREED: Stay Wise, Stay 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.