Cybercriminals Use Phishing, Skimming, and Smishing to Steal Sensitive Information

With the increasing reliance on digital transactions, cybercriminals are using sophisticated methods such as phishing, skimming, and smishing to steal sensitive information from unsuspecting victims. According to a recent report by EY, 53% of respondents in India have reported an increase in cybercrime risks over the last year.

Phishing: The Most Common Technique

Phishing is a common technique used by criminals to trick individuals into revealing personal and financial information. This can be done through fake emails, text messages, or social media platforms. “Banks or financial institutions never ask for sensitive data like passwords or login details,” said Sonam Chandwani, Managing Partner at KS Legal & Associates.

• Fake emails: Be cautious of emails that appear to be from a legitimate source, but contain suspicious links or attachments.
• Text messages: Be wary of text messages that ask you to reveal personal or financial information.
• Social media platforms: Avoid sharing sensitive information on social media platforms.

Skimming: A Threat to Your Credit Card Information

Skimming involves using devices that capture credit card information during transactions. This can happen at ATMs, gas stations, or restaurants. To avoid this:

• Cover the keypad when typing your PIN
• Use ATMs located inside banks or guarded premises
• Regularly check your account activity and report any suspicious transactions

Smishing: A Variation of Phishing

Smishing is a variation of phishing that uses SMS messages to trick victims into revealing sensitive information. This can be done by sending fake text messages that appear to be from a legitimate source, such as a bank or a government agency.

• Be cautious of unsolicited text messages
• Verify the authenticity of the message before responding
• Avoid clicking on suspicious links or downloading attachments

How to Stay Safe Online

To avoid falling victim to these scams:

• Use strong passwords and keep them confidential
• Keep software and browsers updated
• Avoid using public computers or networks to access sensitive information
• Opt for two-factor authentication
• Regularly monitor your account activity

If an individual’s data has been compromised, they can file a police report and seek legal recourse under the Indian Penal Code 1860 (IPC) and the Information Technology Act 2000 (IT Act 2000). The punishments for identity theft range from imprisonment up to seven years and fines up to Rs 5 lakh.

Best Practices

Experts recommend:

• Using temporary email services or proxy accounts while sharing information online
• Using wallets instead of directly linking credit cards to bank accounts
• Shredding or discarding physical identity documents properly
• Maintaining meticulous records of banking transactions and credit card activities

In conclusion, individuals must be aware of these sophisticated methods used by cybercriminals to steal sensitive information and take necessary precautions to protect themselves. By staying informed and vigilant, we can reduce the risk of identity theft and other cybercrimes in India.