The frauds have evolved over time to become more subtle and difficult to detect. Today, the new growth of online services in India has opened a new door for fraudsters. Technology has indeed made life easier; however, it has also helped scammers with ways to deceive people who don't suspect a thing.
Staying informed and vigilant is essential to safeguarding against these threats.
Fraudulent emails and SMS messages normally carry banks, government agencies, or e-commerce website logos. These emails then dupe the victims to click on malicious links or enter passwords and OTPs.
With the UPI-based payment boom, some new tricks have also emerged from fraudsters. Normally, fraudsters make fake requests for payments or ask for scanning QR codes to siphon money. These scams are quite effective because most people do not know about secure payment practices.
Common calls or messages state that accounts will be blocked if KYC details are not updated. The victims are cheated into sharing confidential details or installing malicious apps, which give full access to their financial accounts.
For instance, they give a pretend job and then ask for pre-registration fees to get registered, trained, or processed. They target newly graduated and unemployed students by promising them a higher salary or flexibility to work from home.
Investment frauds promise sure returns within a short time. These fraudsters use fake websites, social media advertisements, and cold calls to convince people to invest in non-existent projects or companies.
Nowadays, there are more and more calls from scammers claiming to be "tech support" agents who fix problems on non-existent devices. The scammer often forces the victim to give remote access to their computers or transfers money as a service fee.
Scammers create fake profiles on social media platforms, impersonating known personalities or businesses. These accounts trick followers into making payments or sharing personal information.
Always verify the source of an email or SMS before clicking on links. Hover over the link to check the URL or directly visit the official website instead of relying on shared links.
Banks and other genuine institutions never call or message asking for passwords, OTPs, or PINs. Do not share your private information with a person claiming to be from such institutions.
Do not scan any QR code that comes in your inbox from unknown sources. UPI transactions are sender-oriented, so never scan a code to "receive money."
Check the legitimacy of recruitment agencies and recruitment organizations that are posting job openings. Legitimate job openings never request money for processing or training.
Investment opportunities must come from credible sources. Never invest money in schemes promising unusually high returns within a very short period of time. Most of them are scams.
Download apps only from official app stores like Google Play or Apple's App Store. Never download apps from links shared via messages or emails.
Antivirus software and firewalls are used to secure devices to detect and block malware. Keep security software up-to-date with new threats.
Verify profiles that are asking for payments or personal details. Report and block accounts that are pretending to be other people or posting fraudulent content.
Add a second layer of security to the accounts by enabling two-factor authentication. This means no unauthorized access is allowed, even if your login credentials have been compromised.
Share knowledge about scams with friends, family, and colleagues to help others stay informed. Awareness can prevent many scams before they occur.
India has several mechanisms to report scams and seek legal recourse:
Report online scams through the Government of India's Cyber Crime Reporting Portal (cybercrime.gov.in). This platform allows victims to file complaints for fraud and cybercrime.
The National Cybercrime Helpline (1930) provides assistance for reporting financial fraud. Prompt reporting increases the chances of recovering lost money.
Notify the concerned bank immediately in case of financial fraud. Quick action can help freeze accounts or transactions initiated by fraudsters.
Victims of scams can file complaints under the Consumer Protection Act if the fraud involves false promises or defective services.
New scams are emerging in India, but staying informed can help individuals avoid falling into these traps. Some proactive measures include verifying sources, ensuring secure online transactions, and staying aware of potential scams.
Collective vigilance and responsible use of technology are key to outsmarting fraudsters and protecting hard-earned money.