May 25, 2022, Wednesday
Nepal 1:37:26 pm

NRB alerts consumers about risks in electronic transactions

The Nepal Weekly
February 8, 2022

The Nepal Rastra Bank (NRB) has asked the users to be careful and vigilant in digital transactions citing that the risk has also increased with the increase in electronic transactions in Nepal lately.

Issuing the 7-point suggestions regarding the digital transaction Friday, the central bank has also called the electronic payment users not to share confidential details related to transactions with unnecessary and unknown persons.

The NRB has asked the public to be vigilant as the number of electronic payment users being deceived through social media has increased these days.

Electronic transactions have been on the rise in Nepal recently.

The bank has said that the number of complaints that various criminal persons/groups are cheating the customers by using various means while doing business from home through various electronic devices is increasing day by day.

According to the bank , in recent times, people have been deceived by asking for money in the name of connections through social media, by calling the bank and asking for the name and password of the user of internet banking or mobile banking.

The NRB statement says that it has been using fake websites to obtain confidential information of customers, asking huge sums of money for lottery tickets and encouraging people to invest in illegal devices on the pretext of making huge returns.

Paying special attention to such type of fraud, the central bank has urged the payers not to give their confidential passwords and OTP or any other sensitive information to any unknown person through any medium.

Also, NRB has suggested changing the passwords of mobile and other devices and apps from time to time and requested to keep such passwords secret and secure.

“If you request to send money by sending a message through social media or any electronic medium, before sending money, you should send the money only after making sure that the same person did not ask for money through other means,” reads the statement.

Similarly, NRB has advised not to download unnecessary and unauthorised apps on your mobile phone or other devices as criminal groups can find out all their sensitive information while downloading unauthorised apps.

It has also been requested to take suspiciously the act of sending a barcode or QR code under the pretext of paying the amount or texting that the password of the app is required.

The bank has informed that it is not necessary to send any barcode, QR code or password to get the payment or receive the money. Before doing electronic transactions through any website, the central bank has suggested to do business only by making sure that it is the official website of the concerned institution. In addition, the bank has asked to register complaints or grievances in the portal of the bank and financial institution where the business is conducted and in the portal of grievance hearing of the NRB if there is any suspicion or complaint that it has been cheated while doing electronic transactions.