With the inrease of technology, online frauds have also been increased.This is the digitalisation era where people are using internet for everything including buying,selling,payment etc, there data have been flows on the internet,there data privacy is not much hide from these fraudster and these fraudster use there data to find the potential person to whom they can make fraud. So today, we are gonna discuss about some of the very common type of frauds that these fraudster using in order to make people fraud

Fraud #1 – Verification Call from Bank using OTP

This might be a not a new thing for many investors. In this type of fraud, the target is generally 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 #5 – Please verify your bank details (Phishing)

It’s a very common kind of fraud in the online world. It’s called 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 look 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 which 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 this fraud have increased i.e, job offer scam. In this, you get an email offer from a reputed company which invites you for their interview. You see all kind 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 prevaling in some areas.

Fraud #4 -Buying products over phone

This is a new type of fraud which only happen 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’s 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 this advantage and they order the product without having much question bcoz 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) and if the reseller agree to accept online payment then the fraudster ask him for his/her whatsapp no. and then send his barcode of UPI(on which by scanning through any other phonepe app the amout would be deduct from their account) and after sending the barcode he call the reseller and explain what to do next in order to accept payment and he speak 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 say 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 realise 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 sometime got a call from somewhere where someone request us to help us by giving some money for the treatment of a child or for education of a poor child who also have lost his/her parents.

 There are many other scams going on in the name of helping someone.There are n number of website of fraud campaign also who disguise themselves as an NGO who are providng 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 kind of transactions are now online. It’s important to be protect from these frauds and keep safe our hard earned money

1. You will never receive a phone from RBI or Other banks for reasons such an 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.
2. Never share your card number, CVV number, OTP etc.. to anyone.
3. keep yourself updated with technology to be smart and aware.
4. Don’t visit at suspected sites or don’t login with you ID at every site
5. Keep protect your data by not sharing it unnecessary.