With the country still recovering from hard cash and demonetisation in effect, it is obvious that instances of card fraud would be on the rise in the coming months.
First and foremost, remain alert. And do NOT ever ignore text messages from your bank
Hit by an unprecedented ATM security breach, several public and private sector banks have recalled or blocked over 32 lakh debit cards to safeguard their customers from any financial fraud, while the government has sought from them details of all necessary safety measures.
The payment processing company Visa will roll out a new feature this spring that will allow its cardholders to inform their banks where they are automatically, using the location function found in nearly every smartphone.