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Phishing is the attempt to obtain sensitive information such as usernames, passwords / Login Credentials, and credit / debit card details (and, indirectly, money), often for malicious reasons (usually to carry out various types of financial fraud), by disguising as a trustworthy entity in an electronic communication. The word is a neologism created as a homophone of fishing due to the similarity of using bait in an attempt to catch a victim. Phishing is typically carried out by email spoofing or instant messaging, and it often directs users to enter personal information at a fake website, the look and feel of which are almost identical to the legitimate one. Communications purporting to be from social web sitesauction sites, banks, online payment processors or IT administrators are often used to lure victims. Phishing emails may contain links to websites that are infected with malware.
An attacker masquerades a trusted entity, such as a bank, government, ISP (Internet Service Provider), web site, and tries to trick people into giving up their private information. These attacks often take the form of “urgent” emails asking people to take immediate action in order to prevent some impending disaster. Examples include topics such as the following:

  • “Our bank has a new security system. Update your information now or you won’t be able to access your account.”
  • “We couldn’t verify your information; click here to update your account.”
  • Sometimes the email claims that something awful will happen to the sender (or a third party), as in “The sum of Rs. / USD ********* is going to go to the Government / Trust unless you help me transfer it to your bank account.”

People who click on the links in these emails/test may be taken to a phishing site – a web page that looks like a legitimate site they’ve visited before, but is actually controlled by an attacker/hacker. Because the page looks familiar, people visiting these phishing sites enter their username, password, or other confidential information on the site. What they’ve unknowingly done is given a third party all the information needed to hack their account, steal their money, or open up new lines of credit in their name. They just fell for a phishing attack.

The concept behind such an attack is simple: Someone masquerades as someone else in an effort to deceive people into sharing personal or other sensitive information with them. Phishers can masquerade as just about anyone, including banks, email and application providers, online merchants, online payment services, and even governments. And while some of these attacks are crude and easy to spot, many of them are sophisticated and well-constructed. That fake email from “your bank” can look very real; the bogus “login page” you’re redirected to can seem completely legitimate. These emails have no connection with Magma and Magma does not use any such methods.

If you think you may have encountered a phishing site, please contact us at customercare@magma.co.in or call us at toll free: 1800 266 3202 with the relevant details.

Our company accepts no liability for the content of such emails, or for the consequences of any actions taken on the basis of the information provided, unless that information is subsequently confirmed in writing. If you are not the intended recipient you are notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited.

Avoid becoming a victim of phishing attacks by following these simple rules:

The good news is there are things you can do to steer clear of phishing attacks and phishing sites:

  • Be careful about responding to emails that ask you for sensitive information.You should be wary of clicking on links in emails or responding to emails/text messages that are asking for things like account numbers, usernames and passwords, or other personal/confidential information. We at Magma do not ask for this information via email.
  • Go to the site yourself, rather than clicking on links in suspicious emails:If you receive a communication asking for sensitive information but think it could be legitimate, open a new browser window and go to the organization’s website as you normally would (for instance, by using a bookmark or by typing out the address of the organization’s website). This will improve the chances that you’re dealing with the organization’s website rather than with a phisher’s website, and if there’s actually something you need to do, there will usually be a notification on the site. Also, if you’re not sure about a request you’ve received, please contact us at customercare@magma.co.in or call us at toll free : 1800 266 3202
  • Be wary of the “fabulous offers” and “fantastic prizes” that you’ll sometimes come across on the web: If something seems too good to be true, it probably is, and it could be a phisher trying to steal your information. Whenever you come across an offer online that requires you to share personal or other sensitive information to take advantage of it, be sure to ask lots of questions and check the site asking for your information for signs of anything suspicious.
  • Use a browser that has a phishing filter: The latest versions of most browsers include phishing filters that can help you spot potential phishing attacks.
  • Do not reply (without confirming the legitimacy of the source) to e-mails requesting for financial information, Customer information, Account information, Personal or any other confidential information etc., such mails seems to come from legitimate source but usually are meant to persuade user to send confidential data which is later used for malicious intents.
  • Do not use a link in an e-mail to get to a web page, instead, type in the URL directly into your browser’s address bar.
  • Be vigilant when downloading e-mail attachment on your computer. If in doubt, do not download.