One in three Indian saves their bank details on their phone, their PC: survey

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One in three Indians stores their personal financial data, such as ATM passwords, debit or credit cards, bank details, and PAN or Aadhaar card details in a cell phone, email or email. personal computer, an investigation by the LocalCircles community platform revealed.

This puts them at high risk of data theft.

Of the total 33%, 7% store personal information on their phone, while 15% store it in their email or computer, and the remaining 11% save it on their mobile, email or computer.

Of the remainder, 39% rely on the old-fashioned paper format to store their sensitive information, while 21% said they memorized all the details.

An even more concerning finding was that about 11% of the total of 7,956 people surveyed said they store their ATM, bank account, email and other passwords online in the contact list of their cell phone.

Storing sensitive financial details on a phone’s contact list poses a significant risk of misuse, whether by apps or hackers or even by the individual’s contacts.

“It’s a very dangerous way to store such credentials, as most online applications today ask for permission to access their contacts and text messages. While some apps have high levels of security and are trustworthy, the same cannot be said for the majority of other apps available on app stores. Indian cybersecurity researchers recently identified 167 counterfeit iOS and Android apps used by hackers to steal money from people, ”the report said.

A significant 35% also said they shared their PIN or debit card PIN with close family members, friends, or household and office staff.

Survey participants suggested that the government and the Reserve Bank of India (RBI) should frequently conduct awareness programs on steps ordinary citizens can take to secure their personal data.

“Aimed at securing digital payments using debit and credit cards, RBI’s new rules require debit and credit cardholders to set transaction limits. He also asked banks to allow people to sign up for preferences such as signing up or opting out of services, as well as spending limits and other services for online transactions, international transactions and contactless transactions, ”the report adds.

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