Lookback@2024: Top 6 frauds that Indians fell prey to this year

Lookback@2024: Top 6 frauds that Indians fell prey to this year

By Hiral Thanawala | December 31, 2024

Digital arrest scam

Fraudsters impersonate law enforcement authorities, threatening fake legal cases, to extract personal information or money from victims.

Fake service suspension warnings

Beware of fake suspension threats! Scammers may claim that your telecom, power or other services will be cut off due to ‘suspicious activity’ via calls, WhatsApp or SMS.

Suspicious WhatsApp groups

HSBC Asset Management and Kotak Securities have warned investors about impostors masquerading as officials in WhatsApp groups to defraud them.

Dubious investment tips in WhatsApp groups

Scammers pose as representatives of well-known financial institutions, using fake identification to dupe investors with dubious tips.

Fake investment schemes

Here, the promise of guaranteed returns puts investors at the risk of financial fraud, many victims end up losing their lifetime’s savings.

Money mules

Fraudsters trick individuals into opening bank accounts for illegal transactions.

UPI fraud

Conmen use the ruse of erroneous payments, fake QR codes, SMS notifications, and misleading UPI handles to steal money.

Protect yourself from digital arrest scam

Beware of fake government officials! Scammers may contact you, using threats and urgency to demand action, but it’s a trap.

Protect your personal data

Never share PAN, Aadhaar, or bank details on unverified platforms.

Boost security

Enable multi-factor authentication to safeguard devices and finances.

Prevent identity theft

Stay vigilant! Regularly check credit reports for suspicious activity.

Report cybercrime

Call 1930 or Department of Telecommunications to alert authorities for suspicious activities.

Next: Lookback@2024: Top 5 trends in banking that affected Indians
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