Phishing, Smishing, or Vishing? Learn How Fraudsters Empty Your Bank Account

Kokila Chokkanathan
Online fraud is increasing rapidly, and scammers are constantly inventing new ways to steal your money. Three of the most common fraud methods today are Phishing, Smishing, and Vishing. While the names may sound similar, the techniques differ — but the goal is the same: to trick you into revealing sensitive information and empty your bank account.

Let’s understand how these scams work and how you can stay safe.

1. What is Phishing?

Phishing is an online scam where fraudsters send fake emails or create fake websites that look exactly like those of trusted banks, companies, or government agencies.

How It Works:

  • You receive an email claiming to be from your bank.
  • The email warns about “suspicious activity” or asks you to “verify your account.”
  • It contains a link that redirects you to a fake website.
  • Once you enter your login ID, password, OTP, or card details — scammers steal your money.
Common Signs:

  • Urgent messages like “Your account will be blocked.”
  • Suspicious email addresses.
  • Links that look slightly different from the official website.
2. What is Smishing?

Smishing (SMS + Phishing) is fraud carried out through text messages.

How It Works:

  • You receive an SMS saying:
    • “Your bank account has been frozen.”
    • “You’ve won a lottery.”
    • “Click this link to claim a refund.”
  • The message includes a malicious link or a fake customer care number.
  • Clicking the link or calling the number may result in theft of your OTP, card details, or installation of malware.
Why It’s Dangerous:

Many people trust SMS more than emails, making smishing highly effective.

3. What is Vishing?

Vishing (Voice + Phishing) is fraud conducted over phone calls.

How It Works:

  • A scammer calls pretending to be:
    • A bank official
    • Police officer
    • Income tax officer
    • KYC verification executive
  • They create fear or urgency.
  • They ask for:
    • OTP
    • CVV number
    • Debit/credit card details
    • Net banking password
Once you share this information, money is withdrawn instantly.

4. How Fraudsters Empty Your bank Account

Here’s the common pattern scammers follow:

Create urgency or fear.

Gain your trust by impersonating authority.

Ask for confidential details.

Use OTP or card details to transfer money.

Withdraw funds quickly to untraceable accounts.

Remember: Banks never ask for OTP, PIN, CVV, or passwords.

5. How to Protect Yourself

✅ Never share:

  • OTP
  • PIN
  • CVV
  • Net banking password
  • UPI PIN
✅ Always:

  • Check website URLs carefully.
  • Enable SMS/email alerts for transactions.
  • Install apps only from official app stores.
  • Verify customer care numbers from official websites.
  • Use strong passwords and two-factor authentication.
6. What to Do If You’re Scammed

If you suspect fraud:

Immediately call your bank’s official helpline.

Block your debit/credit card.

Report the fraud on the National Cyber Crime Portal (in India).

Lodge a complaint with your nearest cyber crime police station.

Quick action can sometimes help recover your money.

Final Thoughts

Phishing, Smishing, and Vishing may use different channels — email, SMS, or phone calls — but they all aim to steal your sensitive information and drain your bank account.

Stay alert. Think before you click. And remember:
No genuine bank or authority will ever ask for your confidential details over phone, email, or SMS.

 

Disclaimer:

The views and opinions expressed in this article are those of the author and do not necessarily reflect the official policy or position of any agency, organization, employer, or company. All information provided is for general informational purposes only. While every effort has been made to ensure accuracy, we make no representations or warranties of any kind, express or implied, about the completeness, reliability, or suitability of the information contained herein. Readers are advised to verify facts and seek professional advice where necessary. Any reliance placed on such information is strictly at the reader’s own risk.

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