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seema Upadhyaya made post

Are there any chances of hacking If I invest through Direct Mutual funds?

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tanvi Patel answered.
8 months ago

Mutual fund accounts are quite safe since the money is added through your bank account for trading and redeemed in your bank account. So, why would anyone want to redeem your money in your bank account? However, you have to keep your bank account details safe and unique.
But there are chances that sometimes your account might be hacked. To protect yourself from any such hacking make sure you have to:
  • Keep your password strong and unique such as a combination of words, numbers and special characters.
  • Review your bank statement for even the smallest transactions.
  • If there’s any notification facility available, sign up for it.
  • Do not reuse the username and password.
  • Try not to use your common email.
  • Never click on attachment or link from any unexpected e-mail.
  • Use the ETF system exchange-traded fund which means if any hacker hacks your account and sale all of your funds, the money will be deposited in your bank account only.
You can make an investment through direct mutual funds as it merely involves any hacking risk. However, your safety is in your hands. Don’t be ignorant about small things; they can make a big difference. Always try to be alert.