New Delhi: A new form of scam called ‘vishing’ is reportedly targetting the customers of State Bank of India (SBI). The scamsters fool the bank customers to extract confidential banking details. They indulge in scams such as ATM card skimming and mobile SIM card swap. With many users duped, there is a significant rise in the trend of online banking fraud across the country.

The new scam called vishing is performed through a phone call. Before proceeding with their agenda, the scamster guesstimates that their victim would at least have one active account with the SBI as it is the largest bank in the country. Then the job of the fraudster becomes easier and the victim’s money is stolen with the help of the banking details extracted.

This scam can be done with users of other bank accounts also. Therefore, it is essential that the user knows about the banking frauds.

Here is all you need to know about the new banking scam called ‘Vishing’:

Users will receive a phone call from SBI or other banks.

The speaker or the fraudster may introduce himself as a representative of the bank.

Then your bank details including your name, date of birth and mobile number will be verified to make sure that the phone call seems like an official one from the bank itself.

The fraudsters may warn that the bank will block the users SBI debit or credit card if they don’t abide by the said instructions.

The user may be asked to upgrade their debit or credit card.

Then the fraudster will dupe the user by asking them to provide important bank account details, the customer ID or debit or credit card details under the pretence that their card would otherwise be blocked if they deny obeying the instructions.

Next, the caller would ask the OTP number received by the user to verify their service.

The entire procedure described above is known as a vishing call. This is basically carried out as a way of hijacking the victim’s online bank account in order to steal money. In almost all such case, the caller transfers the money to remote accounts in other states or sometimes even to remote countries so that it would be difficult to trace the fraudulent account.