With the increase in technology, the number of online frauds rapidly increasing daily. This is the digitalization era where people are using the internet for everything including buying, selling, payment, and whatnot. Their data have been flows on the internet, and there is not much privacy to hide the data from these fraudsters. Then, these fraudster uses their data to find the potential person to whom they can make fraud.
So today, we are gonna discuss some of the very common types of Online frauds that these fraudsters using in order to make people fraud.
Fraud #1 — Verification Call from Bank using OTP
This might be not a new thing for many investors. In this fraud, the Fraudster mostly targets the uneducated investors who are not that much educated or who are very new to internet banking.
The fraudster poses them as a bank verification officer and gets all the information like debit card number, expiry date, CVV number, and even OTP number while doing the online transaction parallelly.
Fraud #2 — Please verify your bank details (Phishing)
It’s a very common kind of fraud in the online world. This fraud is known as Phishing, which aims to steal your sensitive data like username, password, or card details. They send you the link on which by clicking open a fake website which maybe looks like an original bank site or You get an email asking you to verify your account or details, failing which your account will be closed.
When you click on the link, it takes you to the website which looks exactly similar to your bank or card company, you enter your details thinking that it’s your bank website only. But in reality, it’s a fraud website that captures your sensitive information, which later is used to do transactions and you lose the money.
Fraud #3 — Fake Job Offer
In India, there are millions of people unemployed and due to that these Online frauds have increased i.e, job offer scam. In this, you get an email offer from a reputed company that invites you for their interview. You see all kinds of numbers, venue, last date, etc, and then you see a line mentioning that you need to deposit a security deposit or some basic fees, which will be refunded later.
Due to being unemployed, many people fall into this trick. The emails look very genuine when you read it, as it contains the company logo, or it might be on the letterhead of the company, but when you dive deeper and check the email id from which it was sent or the website link, you can figure out that something is wrong. This type of fraud is still prevailing in some areas.
Fraud #4 -Buying products over the phone
This is a new type of fraud that only happens with people doing e-commerce or with resellers and selling products online using Facebook, Instagram, or other social media sites where you find potential buyers for your products.
So, let dive deeper and let know about the whole process of this Firstly, you know selling a product online is not an easy process as people don’t trust you and if a person trust you and thinking to buy then he/she is also having various queries related to products like delivery date,mode of payment etc.
So its difficult for a reseller to sell their products and these fraudster take advantage of this and they order the product without having much question because they don’t have to do anything with the product they just want to lure the reseller and after placing the order they don’t want to do payment in cash but they want to do online payment through UPI(unified payment interface).
If the reseller agrees to accept online payment then the fraudster asks him for his/her WhatsApp No. and then send his barcode of UPI(on which by scanning through any other PAYTM or PHONEPE app the amount would be deducted from their account) and after sending the barcode he calls the reseller and explains what to do next in order to accept payment and he speaks very quickly and the person on the other side just do whatever he said without knowing ki USKA HI KATT RHA HAI and then the fraudster says to click the barcode.
I sent to you in your PHONEPE or Paytm app the money has been transferred from your account to the fraudster and when you realize the money has been deducted from your account then it will be very late my friend. So be sure if you are doing e-commerce or if you are a reseller.
Fraud #5 — I am calling from IRDA
This is a popular scam these days. Almost every investor has some or the other kind of insurance policies, especially from LIC. So these fraudsters give a call to you and ask you about your policy and tell you that they are calling from IRDA and you are eligible for some bonus after many years and in order to get your bonus you will have to either send some money or buy some policy again.
A lot of times, they have some more details about you and your policy and they look genuine at times. And many investors fall for these scams.
Fraud #6 — Help a child in an Emergency situation
Many of us have sometimes got a call from somewhere where someone requests us to help us by giving some money for the treatment of a child or for the education of a poor child who also has lost his/her parents.
There are many other scams going on in the name of helping someone. There is N number of websites of Online Frauds campaigns also who disguise themselves as an NGO who are providing education or providing money for poor person’s treatment.
How to prevent yourself from getting trapped in these situations?
From the last 10–12 yrs, this kind of online frauds has increased because the whole world has moved to the web and all kinds of transactions are now online. It’s important to be protected from these frauds and keep safe our hard-earned money
- You will never receive a phone from RBI or Other banks for reasons such as Aadhaar not linked etc. Please be aware that if there is any recent activity such as if you have deposited some cheque then you might receive a call if bank officials want some information regarding the cheques. Otherwise, no calls from banks for any backdated activity.
- Never share your card number, CVV number, OTP, etc.. with anyone.
- keep yourself updated with technology to be smart and aware.
- Don’t visit suspected sites or don’t log in with your ID at every site
- Keep protecting your data by not sharing it unnecessarily.