Fraud Awareness - Protect yourself from fraudsters

Protect yourself from fraudsters

Fraudulent activities, particularly cyber fraud, are on the rise, making it crucial to stay vigilant and protect yourself from potential threats.
Among all, senior citizens are especially vulnerable to these scams. To ensure your safety, it’s important to be aware of common fraud tactics and how to avoid them.
 

Alert

Bank representatives will never call and ask for your banking or personal details. In case you wish to get in touch with your bank, always visit the official bank website for contact details instead of relying on random information found online.

 

What you should never do:

  • Never share personal or banking details with anyone.
  • Never click on any links received on SMS, email, WhatsApp or any other sources. 
  • Never share CVV, OTP, PIN, passwords, or any other card details with anyone.
  • Never download any files or open attachments received from unknown sources.
  • Never download or install APK files received from anyone.
  • Never click on any links to redeem reward points or claim lottery amounts.
  • Never conduct transactions over public or open Wi-Fi networks.
  • Never update your KYC via calls, by downloading files, or by clicking on any links.
  • Never engage with unknown callers claiming parcel or courier delivery.
  • Never opt for screen-sharing or remote access requests, even if the sender claims to be a bank or government officials.
  • Never engage in video calls with unknown people claiming to be the police, law enforcement, or bank officials.
  • Never scan a QR code to receive money. QR codes are scanned for making payments, not receiving them.


Adopt these best practices:

  • Create strong passwords: Always use unique and complex passwords for all your accounts and enable two-factor authentication (2FA) whenever possible. Use a combination of uppercase and lowercase letters, numbers, and special characters.
  • Review bank statements: Always review your bank statements to identify and flag any suspicious activity.
  • Enable transaction alerts: Always enable transaction alerts for your accounts to identify and flag any suspicious activity.
  • App downloads: Always visit the official App Store or Play Store to download any app.
  • Verify OTP SMS: Carefully read the SMS and verify transaction details before entering the OTP.


Common and Emerging Types of Frauds:

  • Digital arrest: Fraudsters pose as police, Law Enforcement Department, CBI, RBI, or ED officers and threaten arrest via video calls.
  • AI scams: Fraudsters mimic voices or faces of family members to ask for urgent money.
  • Fake investment scams: Promises of high or guaranteed returns through fake apps, WhatsApp messages, or social media ads.
  • Screen sharing / remote access frauds: Fraudsters trick you into sharing your screen or giving remote access, allowing them to steal money.
  • APK & malware frauds: Installation of malicious apps sent via links or messages.
  • QR code scams: Fraudsters ask you to scan QR codes claiming refunds or payments. QR codes are used for making payments, not receiving them.
  • KYC update frauds: Fake calls or messages asking you to urgently update your KYC details.
  • Courier scams: Threats about illegal or suspicious parcels demanding payment or personal information.
  • Reward, lottery, cashback scams: Fake messages claiming prizes, cashback, or rewards to trick you into clicking links or sharing details.
  • Fake ads and websites: Fraudsters create fake ads or websites offering products at heavily discounted prices to lure you into making payments or sharing personal details.

 

How to report:

 

By staying vigilant, you can significantly reduce your risk of falling victim to cyber fraud. Remember, if something feels suspicious, it probably is. Don't hesitate to seek help from a trusted source or report it to the authorities.