#bank micr code

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Confidence tricks, advance-fee fraud and lottery fraud are some of the types of frauds. But these are not all. There are some more like tax avoidance, insurance fraud, offshore investment scams, marriage fraud, payment card fraud and pyramid schemes.

Social engineering tricks are played on the internet to fool people and extract their personal data, banking details and passwords out. One of the techniques is “phishing”. In this, some fake communication is made by the fraudsters and it includes emails, pop-upwindows and instant messages and they all seem to come from a genuine source. Interception is another means of doing so. But apart from this, computer dangers pose a huge threat to your bank account.

To overcome this, we must use bank codes. Anyways, below are some statistics to show you the number of people getting affected and HOW. Check this infographic out.

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Details like Bank IFSC Code, Bank swift code, and Bank MICR Code, denotes that you are connected with the right bank and the legal account holder thus before making any money transaction, assure for acquiring with the applicable info and get on with the procedure.

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