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Online Transaction Fraud
Although at this age, as students, most of us may not be using banking services such as debit
card, credit card, net banking, etc., yet it is important to be aware of this type of cybercrime.
Online transaction fraud refers to the illegal withdrawing or transferring of money from one bank
account to another by a cybercriminal. Online transaction frauds generally take place when a
cybercriminal steals a user’s login credentials, bank account details, credit card details, etc.
Cybercriminals may send e-mails from a fake account that can appear to be from a bank or credit
card service provider.
Cybercriminals may also fake their identity and call people pretending to be a bank employee to
obtain a user’s banking details.
Types of Online Transaction Frauds
• Identify Theft: Sometimes, cybercriminals deliberately use someone else’s identity to gain
a financial advantage over someone else. Cybercriminals may also pose as someone else to
obtain credit and other benefits in the other person's name.
• Job Frauds: Cybercriminals portray incorrect details as an employer.
• Banking Frauds: Some cybercriminals fraudulently obtain money from users for investment
by posing as a bank or other financial institution.
Never install pirated software on your mobile
or computer. It is not only illegal but may also
compromise security of your devices.
Avoid making online
Be sure to check for the bank's
transactions using a public Wi-Fi
security certificate details.
or a computer in a cyber cafe.
Some tips to
Regularly update your safeguard from
banking passwords and Pin of online Always check the website
URL starts with HTTPS.
the debit/credit cards. transaction
frauds
Never share your bank and card details
such as online account password, card
number, PIN, OTP, etc. with anyone.
#Digital Literacy
Let’s CatCh Up
Define the following:
a. Spamming - _____________________________________________________________________
b. Cyberbullying - _____________________________________________________________________
c. Phishing - _____________________________________________________________________
d. Hacking - _____________________________________________________________________
47
Ethics and Safety Measures in Computing

