Several people are losing their jobs and undergoing financial difficulties as the number of cases of coronavirus rises. In addition, as more and more activities are happening online, the number of incidents of cyber threats and online fraud has risen. Identifying the risk, the State Bank of India (SBI) has issued a new alert to its customers about online fraud. With the introduction of online banking, some major changes in banking services have been introduced, but there is no doubt that it has also created new challenges and problems for bank customers. This is among the chief causes why the Reserve Bank of India (RBI), along with a number of other banks, periodically issues warnings to their customers about digital scams in order to keep them updated and caution them to fraudulent activities.
Customers have started to use banking services on their mobile phones through various applications, as well as saving important details and information in their smartphone concerning the COVID-pandemic. SBI, on the other hand, has issued an alert to its customers about the rapidly increasing banking frauds, advising them to be extremely cautious. According to sources, the bank has advised its customers not to store any sensitive or confidential details on their mobile. Users who save their banking PIN, debit card, credit card details, password, CVV, and other confidential info in their cell phone are more likely to become victims of digital crime, according to the bank. As per the bank, all banking-related details should be deleted immediately from mobile phones and other gadgets.