Table of Contents
QR code
Scammers often target people who post advertisements on social media platforms. They offer to buy a product without much negotiation and send a QR code to the user, asking them to scan it and enter their UPI PIN for a small amount. Once the user has done this, the scammer will return the amount to make it seem like a legitimate transaction. However, they will then ask the victim to scan again and transfer a larger amount by entering their UPI PIN. If the user reports that the amount has been debited, the scammer will claim it was a system error and ask them to scan again and enter their UPI PIN for twice the amount that was deducted. This cycle continues until the user eventually realizes he/she has been defrauded
Fake cashback links
Sometimes, users may receive links or QR codes from unknown individuals, who promise rewards in exchange for entering their UPI PIN. However, it’s important to remember that scanning a QR code and entering a UPI PIN is only meant for making payments, not receiving them. So, it’s crucial to be careful and not fall for such schemes.
Search carried through internet search engines
Users often search for customer care numbers of well-known institutions online. Unfortunately, scammers can take advantage of this by providing their own mobile numbers as ads in search results for these organizations. It can take some time for search engines and large institutions to identify and remove these fraudulent ads, so unwitting victims may unknowingly contact the scammers, who then lure them into making payments.
To avoid falling for this type of scam, it’s important to be cautious when searching for customer care numbers online. Always double-check the information you find and try to verify it through official channels or trusted sources. If someone claiming to be a representative of a company or institution contacts you, do not share any personal or financial information until you have verified their identity and credentials. Being vigilant and protecting your personal and financial information online is key to avoiding scams.
User posting their grievances on social media platforms
Many people turn to social media to post about financial transaction issues, such as when an amount is debited from their account but not credited. Unfortunately, when users provide details, such as their mobile number, bank name, transaction reference number, and amount, on social media platforms, this information becomes available for anyone to view. Fraudsters can take advantage of this by impersonating representatives of the concerned organization and contacting the victim to offer help.
Using the details posted by the victim themselves, these fraudsters can convince the victim to make a payment in exchange for their supposed assistance. To avoid falling for this type of scam, it’s important to avoid posting personal and financial information on social media platforms. Instead, reach out to the concerned organization’s customer care directly to report any issues or to seek help. Always be cautious when sharing personal and financial information online and verify the identity of anyone who contacts you claiming to be a representative of an organization or institution. Protecting your personal information and being vigilant is key to avoiding financial frauds.
Downloading third party apps
Fraudsters often trick potential victims into downloading screen-sharing apps under the guise of offering assistance. These apps give the fraudsters access to the victim’s mobile device, allowing them to carry out financial transactions quickly before the victim can realize that they’ve been scammed.
To avoid falling for this type of scam, it’s important to be cautious when someone you don’t know offers to help you with financial transactions. Avoid downloading any screen-sharing apps or other APK files from untrusted sources and be wary of any requests to download SMS forwarding apps. Only download apps from trusted sources, such as official app stores, and verify that the app is legitimate before installing it.
If someone contacts you claiming to be a representative of an organization or institution, always verify their identity and credentials before sharing any personal or financial information. Never give anyone remote access to your device unless you trust them completely and be vigilant in protecting your personal information and financial assets online.
Fake investment schemes
Users often search for easy money schemes on the internet or receive random SMS messages offering job or investment schemes that lead them to a social media chat. In these chats, users are lured into making small payments in exchange for the promise of instant returns. As the user becomes more invested, he/she may be enticed into making larger payments, but at some point, the fraudsters will stop responding altogether, leaving the victim with nothing to show for their investments.
To avoid falling for this type of scam, it’s important to be wary of any offers that seem too good to be true. Always verify the credentials of the organization or individual offering the scheme, and never make payments to untrusted entities. Be especially cautious when making large investments and seek the advice of a financial expert if you have any doubts or concerns. Remember, scammers often prey on greed and desperation, so don’t let the promise of easy money cloud your judgement. Be vigilant and protect your personal and financial information at all times to avoid becoming a victim of fraud.
SMS/Social media chat messages
Fraudsters may use threatening tactics to entice gullible victims into making payments, such as sending SMS or social media chat messages that claim their electric connection will be discontinued due to delayed payment. These messages are designed to create a sense of urgency and panic and may lead users to make hasty payments without verifying the legitimacy of the message or the sender.
To avoid falling for this type of scam, it’s important to be cautious when receiving urgent or threatening messages about payment. Always verify the sender and the message before making any payments, and never make payments to unverified or untrusted sources. Check to see if the message is coming from a legitimate business account or phone number and contact the company directly to confirm the authenticity of message before taking any action.
Remember, scammers often use fear and urgency as a tactic to pressurize victims into making hasty decisions, so take your time and verify all messages before making any payments. Protect your personal and financial information at all times and be vigilant in guarding against fraud.
Deceiving user
Fraudsters may mislead users by offering false benefit schemes such as free rice or tube lights and then tricking them into providing their Aadhaar number and biometrics. They can use this information to carry out unauthorized cash withdrawals. To avoid falling for these scams, users should be cautious about giving out their UID and biometric information and verify the authenticity of the scheme before providing any personal information.
ATM tempering
Fraudsters can place a duplicate keypad on top of the original keypad at ATMs. When the user enters their PIN, the fraudster can view it and pretend to offer help. They may then convince the user to move to another ATM, while the original ATM session is still live. Once the user has left, the fraudster can remove the duplicate keypad and use the PIN on the original keypad to withdraw cash. To avoid falling for this scam, users should always be vigilant and check for any suspicious devices overlaid on the ATM. It’s also important to make sure to not leave the ATM until the session has been properly terminated.
Online scams
The escalating trend of online work-from-home job scams underscores the crucial need for users to remain vigilant and informed, adopting preventive measures. Users often receive unsolicited messages of job offers from fraudsters posing as representatives from reputed organizations. Fraudsters lure the potential victims by promising monetary payments for performing simple straightforward tasks such as clicking the “like” button on video sharing platforms, following celebrities on social media, or making small payments to the fraudster through UPI. The fraudsters create an illusion of a legitimate low effort & high reward jobs by initially making small payments to the potential victims’ accounts, building a sense of trust. Once the illusion of trust is established, the victims are enticed to make large payments on fake virtual accounts with a promise of multiplying their investments. To further convince the victims of the security of their funds, the fraudsters often share details of the ‘profits’ made through such fake virtual accounts. The tactic creates an impression of a safe and trustworthy arrangement. The fraud only becomes apparent once the victims realise the gain were fictious all along as the communication from the fraudster ceases abruptly.
The different types of Online Scams are as follows:
Data Entry Frauds
These scams involve fraudsters luring victim with a high paying data entry job. However, they often require victim to pay registration fee upfront or invest in specific software to be onboarded for the employment opportunity. The fraudsters disappear once the payment has been made
Online survey Frauds
In these scams, the victims are presented an opportunity to participate online surveys with a promise of significant earnings. However, a preliminary fee is either required upfront to access the survey list or after the survey list with a fake promise of payment in return.
Freelancing job Frauds
Fraudsters pose as a potential client proposing freelancing job opportunities to the potential victims but require an upfront payment for accessing the materials or software
Fake Job Offers
This type of fraud involves scammers posting fraudulent job listing on social media or on job portals. Victims also receive job offers through phone calls or SMS from fraudsters claiming to represent reputable companies. These offers usually request advance payment for confirming the offer.
Suspicious online Market places
Fraudsters create a unique-looking fake marketplace platform where they lure in customers to invest money with a promise of unrealistic returns. The victims send money on regular basis only losing their life savings in certain cases. Some of these also function as pyramid schemes where you add more members under you. Eventually, all this vanish and cause losses to the user who get enticed by such schemes.
