Beware! Fraudsters might be using ‘these’ tricks to steal your hard-earned money
Scams continue to pose a significant threat to people of all ages, but certain demographics are more susceptible. While middle-aged and elderly individuals often find themselves targeted, it’s important to recognize that even younger generations can fall prey to the clever tactics employed by fraudsters.
1) KYC has expired.
The victim receives an SMS, call, or email requesting them to update their KYC information by clicking on a provided link. This link directs them to a website that compromises their device and steals personal data.
Banks do not send links for online KYC updates. They always require customers to visit a branch or have an in-person interaction.
2) Credit card issued in your name
A scammer calls to inform the victim about a significant transaction made with their credit card and asks for confirmation. Since the credit card is fake, the call is redirected to another con artist who claims they can assist. After establishing trust, they request sensitive information like card details, CVV, and OTP.
If a credit card is issued in your name, you will receive an SMS regarding any transactions. Always verify with your bank if you have concerns.
3) Parcel stuck at customs
The victim receives a message stating that a package containing illegal items has been seized by customs. Many people panic and agree to pay to resolve the issue quietly. The victim may also be asked to send money for the release of the parcel.
If you click on any link provided in the scam, the fraudsters can gain access to your device. It’s important to hang up the call and report the number.
4) Get rich by trading stocks
Social media advertisements claim that you can earn impressive returns of 30-40% from stock trading. Victims are led to a fraudulent website that shows a fake portfolio. Scammers often provide very high returns on a small investment, encouraging the victim to invest even more. However, when the victim attempts to withdraw their money, the scammers disappear.
Any scheme that promises exceptionally high returns is likely a scam. Don’t be fooled by them.
5) Earn big from easy tasks
Fraudsters promise large payments for simple tasks like liking YouTube videos or social media posts. The victim is then encouraged to invest in cryptocurrencies and other assets for high returns. A small amount is credited to the victim’s account to make it seem real. However, when the victim invests a larger sum, the scammers disappear.
Schemes that promise easy money are scams. Don’t be misled by them.
6) Family member arrested
If someone claiming to be a police officer tells you that a family member will be arrested and asks for payment to drop the charges, it’s important not to panic. Before taking any further action, make sure to verify the situation with the family member directly.
7) Put under digital arrest
In this scam, a fraudster pretends to be a police officer and accuses the victim or a relative of committing a crime. They may even use a fake CBI officer to conduct an interrogation through video or audio calls, threatening a “digital arrest.”
It’s important to know that the police have stated they do not conduct digital arrests or online interrogations. If you encounter such a situation, disconnect the call and report the number.
8) Money transferred by mistake
The victim receives a fake text message stating that a certain amount has been credited to their account. Then, a scammer calls and claims that the transaction was done by mistake, asking the victim to return the money. However, the text message is not from the bank, and no money was actually transferred.
Before taking any action, make sure to check your bank account to confirm whether any money has been received.
9) TRAI action against phone
You may receive a call that claims to be from the Telecom Regulatory Authority of India (TRAI), stating that your mobile number has been used for illegal activities and that your phone services will be suspended. The call might then be forwarded to a fraudster pretending to be an official from the cybercrime cell of the police.
It’s important to know that TRAI has clarified that the disconnection of phone services is handled by telecom companies, not TRAI. If you receive such a call, it’s best to hang up and not engage further.
10) Generous tax refund
Taxpayers who have filed their tax returns or are expecting a tax refund might receive a call from fraudsters posing as tax officials. These scammers will ask for your bank details to expedite the refund. Once they have your information, they can drain your bank account.
It’s important to remember that the tax department communicates directly with taxpayers via SMS and mail. They already have your bank details on file, so there’s no need for you to provide them again. If you receive such a call, it’s best to hang up and report it.