Kolkata, December 13: Almost all of us use some or other e-wallet to make payments, bills and receive money. While, that brings convenience, news of people losing money in e-wallet frauds is a matter of concern. However, there are a few basic things you can do to reduce your chances of being a victim of fraud when using e-wallets.

1. Report fraud immediately when you spot it: RBI has said that a customer of an e-wallet has no liability if the fraud is reported within 3 days. However, this does not apply if the fraud is due to negligence of the customer. So if you have shared sensitive details with a third party, you will be held responsible for the loss and no recourse will be available. So, when you suspect fraud, report it immediately to the customer service of the wallet. It has been seen that most of the frauds happen due to negligence of the customer, so there are other safety tips you must follow.

2. Be very sure of details you reveal or who you reveal it to: Sensitive details like passwords, OTPs and PINs should be provided only if asked by a trustworthy app. You should never enter these details if you are not on a secure payment gateway or within the official app.Also, never reveal any detail to any person on the phone, even if the personal claims to be an official from a bank or a wallet provider. Whenever Paytm sends you an OTP, you will get a message saying never that you will never get a call from them asking you about your OTP. So never click on any random link, download apps only from the official stores of Android, Apple and Windows and always be very sure before you enter sensitive information.

3. Try and avoid auto-saving cards: E-wallets will ask you to auto save credit and debit cards so that you can use a card by just keying in the CVV number and the OTP. This is really convenient, and e-wallets try and ensure that your details are stored in a secure manner. However, even if the chances are small, this could reduce the chances of fraud, in case there is a security breach. So avoid saving card details when prompted. If you have them saved, you can remove then by going to the app’s settings.

4. Do not use public wi-fi networks: When you are in a public space, do not use free wi-fi on your phone. These wi-fi networks could be unsecure, giving fraudsters access to confidential data.

5. Check your statements and minimize wallet top-ups: Make it a point to check your wallet transactions just like you check your credit card bills. If there’s a fraudulent transaction, you will be able to spot it. Also, check every time you get an SMS on your phone regarding any transaction. Also, it is a good idea to limit the top-ups in your mobile wallet. A large top-up means that you can lose more money in the event of fraud.

To sum up, chances of fraud in e-wallets are slim, but they do happen. It is better to be safe than sorry.