The more we are getting technologically advanced the more we are on the brink of being vulnerable. We are more transparent than ever with every website trying to find more about us and loot us. The many pop-up ads that follow fraud on Internet keep searching for new prey every day.
So, it is really impossible to be vigilant all the time as these scammers have found tons of ways to grab people’s attention and money. The very fact that everyone wants to earn easy and fast money is the root of all the Fraud problems.
And that’s not all, Consumers in India had a rather high online fraud encounter rate of 69% in the previous year. Furthermore, 31% of Indians lost money as a result of fraud, the highest rate in the world.
Hence, it’s crucial to know the kinds of fraud you can go through:
- EPFO Fraud: Employees’ Provident Fund Organisation (EPFO) is the most devious scam that anyone may fall victim to. You are approached by an officer who informs you that you have received a fund (5 to 6 Lakhs INR) from the EPFO insurance plan. In exchange, they will ask you to fill out numerous forms, the price of which will continue to rise. They will then inform you that it is refundable, and they will continue sucking your money with that lollipop.
- Lottery fraud: This is the most typical sort of fraud you may come across. You will receive a notification or call informing you that you have won a lottery for millions of dollars. They will then ask for your bank details and clear your bank balance by requesting your OTP.
- Job Fraud: This is another method of abusing unemployed people. They will tell you that you have been chosen for an abroad/local employment opportunity. In exchange, they will want you to pay for the job/service.
- Discounted Goods: This is a slap in the face for bargain-hunting shoppers. Websites will sell goods at ridiculously low prices, leading you to feel it’s all true.
- Help messages: The victim’s address book in her emailing list has been compromised, and emails have been sent to all of her contacts from her ID requesting money to bail her out of a dangerous situation.
- KYC Fraud: Scammers send an e-mail informing you that your mobile sim needs to be EKYCed, followed by a phone call after a month informing you that you have not eKYCed your sim and he can help you so one can do eKYCp online from your home they dictate procedure and downloading a few apps and transferring a nominal amount say Rs 10/- to some bank account using your card or internet banking. This tactic is used by several scammers with real people.
- Medical/Investment scams: Scammers will offer you low-cost medical services to trick you into paying them to advance payments. The same is true for Investment scams; they will ask you to gamble on stocks, real estate, options or foreign currency trading, horse racing, betting on sporting events and other opportunities. Scammers offer you massive returns based on past performance and trends.
- Pension Scams: Old people are easy to scam as they are already helpless and are looking for ways to double their savings. Pension fraudsters may contact you suddenly by phone, text, email, or in person, offer you a free pension review or a one-time investment, and propose products that guarantee large returns, frequently from overseas.
- Relationship scams: Scammers utilise dating websites, social networks, and chat rooms to obtain personal information or money from victims. Be cautious with the information you share and follow your gut.
- False computer support calls: A caller may claim to be from Microsoft or another computer security organisation. They’ll inform you your computer has a problem and offer to remedy it for a price. They may request authorization to access your computer. If you provide them access, they will attempt to obtain personal information such as passwords and account information. Microsoft surveys show that 7 out of 10 Indian internet users are victims of tech support fraud.
- Doorstep scams: These are those who attempt to enter your home to steal from you or obtain your personal information. They may act in pairs and appear as strangers claiming to be in an emergency, officials such as gas or electricity metre readers – they may have phoney uniforms and ID charity collectors, or someone conducting market research.
- Never let anyone into your home who you don’t know and trust.
- Always check ID – contact the company if you’re unsure, but don’t phone the number on the caller’s ID as it could belong to an accomplice. Check the company’s website.
- Call the police if you are suspicious or feel threatened.
Remember: If you suspect fraud, contact 1930 (National Cyber Crime Reporting Portal) and report it. You can prevent others from going through what you went through.