Security Tips


Beware of fraudsters who target you through calls / SMSes / emails under the pretext of updating your KYC details as your availing an increased credit limit, earning cashback points/rewards or availing a loan/top-up on a loan. Do not fall prey to such scams.

Do not fall prey to such scams.

Here are our DO's and DON'Ts to protect yourself and stay safe online:

Do's

  • Always visit the official website for the BSS’s contact details
  • Always keep your contact details updated with BSS
  • Install genuine anti-virus and anti-malware software on your computer/mobile and keep it up-to-date
  • Keep your password strong and unique 
  • Turn off your browser's autocomplete settings to avoid storing your card number, passwords or any other personal/sensitive information
  • Be careful before downloading any apps from Play Store or App Store
  • Look for the padlock sign or https in the status bar of your web browser while transacting
  • Always look out for spelling errors in messages that ask to share sensitive details, as they will help you identify the fakes.

Don'ts

  • Never share sensitive details like PIN, passwords, OTP or card details with anyone
  • Avoid using public Wi-Fi or free VPN/public computers while accessing your online account 
  • Do not click on links received from unknown sources/sender IDs
  • Stay away from commonly used passwords like 123456, Names, Birthday etc.
  • Avoid writing your password anywhere and saving it on browsers
  • Do not download remote sharing apps  e.g. Teamviewer, Anydesk
  • Do not scan a QR code or enter a PIN or OTP to receive money through UPI
  • Do not take help from strangers at the ATM

Tips:

Today, online financial services has become extremely accessible and financial functions have become quick. Transactions can now take place on one’s fingertips. However, as the saying goes, with great power comes great responsibility; one has to ensure that caution is exercised while dealing with matters of money. To illustrate this point further, here is a list of top 8 tips on Safe Online Financial Services:

1. Keep your login credentials private

The most underrated yet crucial point that people often forget about is that they should not share their login details, PIN, OTPs with anyone. Most people will trust anyone and everyone with their bank details and passwords only to regret later. BSS Microfinance or Banks would never randomly call or email a customer and ask them to reveal their passwords or OTPs. Bank account details, personal details and passwords should be kept private to ensure security. 

2. Do not trust any unreliable email/SMS

Watch out for suspicious or even authentic-looking emails redirecting you to what looks like your bank’s websites. These emails/SMSes are fabricated to guide you to a fake website which may misuse your credentials. As a rule of thumb, always use the url www.bssmfi.com to access BSS Microfinance’s website.

3. Password protection is essential

Special attention should be given to generating a password for your online account. It should be 

  • Strong: Use a combination of alpha-numeric and special characters 
  • Unique: Ensure that it is entirely different from any password used for any other account 
  • Unpredictable: Stay away from commonly used passwords like 123456, 121212, etc.
  • Avoid References: Avoid pop-culture references, sports teams and personal information. Do not use your address, birthday, names of family members or pets’ names. The longer and more unique your passwords are, the harder they will be for hackers to crack.
  • Updated Frequently: It is advisable to change your password at regular intervalsAnother important tip would be to disable the ‘Remember/Save this Password’ option on your computer.

4. Safety begins with your device

An essential rule of practising safe online activity is ensuring that the device you use for your financial transactions is safe and impenetrable. People often neglect the task of protecting their computer or mobile phone with a licensed anti-virus and anti-spyware software. Updating software on your computer, tablet and phone can seem like a pain, but it is a crucial step to keeping devices safe. These updates fix bugs, software vulnerabilities and security problems. Regularly updating your smartphone apps and operating systems makes your devices more secure.Even better, turn on automatic updates. You can set your computer, browser, apps and phone to update automatically as soon as new updates become available. Set it and forget it!

5. Check your connection

Another overlooked aspect is signing into an online account through public WIFI. Public connections act as a hotbed for hackers as they do not insert any layer of security between the user’s data and the hacker. Therefore, it is best to transact financial activities via a secure and trusted connection. Another common mistake is using a public computer to perform personal financial transactions. Publically used machines could even be devoid of personal firewalls, making them vulnerable to viruses and hackers.

6. Monitor your account

Review financial transactions is through a loan statement. This makes it easier for the user to scan for disputable and suspicious transactions. 

7. Be careful with your cards

ATM Cards, Debit Cards and Credit Cards have made life easy. But they need to be handled with utmost safety. Due care should be taken while punching in Passwords or PINs so that no other person can view them. In case your cards get stolen or lost, the first step taken should be to report it to your bank immediately and get them blocked. Do not wait for your missing cards to be retrieved. 

8. Beware of common banking frauds

The first step of safeguarding yourself against frauds is educating yourself about them. They spam, scam, and make you clam. Here are the common frauds that you need to keep an eye out for.