Financial Crime World

BEWARE: Fraudsters Targeting Indians with Fake Customer Support and Malware

New Delhi, India - A recent survey has revealed that economic crimes have reached alarming proportions in the digital landscape, with 57% of all fraud incidents in India attributed to cybercrimes.

The most common tactics employed by fraudsters include fake customer support, cashback links, and emails designed to convince unsuspecting consumers into installing malware or remote access apps. Once installed, these malicious applications compromise devices, allowing unauthorized access to financial information. Subsequently, fraudsters exploit this access to conduct transactions and dupe consumers by siphoning funds from their accounts or cards.

Tech Support Scams on the Rise

In particular, tech support scams have become increasingly prevalent, with 7 out of 10 consumers falling victim to such schemes. Vigilance and caution are essential in safeguarding personal and financial information from these evolving digital threats.

How to Protect Yourself from Financial Frauds in India

To avoid becoming a victim of financial frauds in India or anywhere else, individuals should prioritize awareness, vigilance, and caution. Here are some steps you can take:

  • Educate Yourself: Stay informed about common scams and fraud tactics.
  • Verify Identities: Be cautious when sharing personal or financial information.
  • Use Strong Passwords: Create unique passwords for online accounts.
  • Enable Two-Factor Authentication (2FA): Add an extra layer of security to your online accounts.
  • Be Cautious with Emails and Phone Calls: Avoid suspicious links, attachments, and unsolicited calls claiming to be from banks or government agencies.

What to Do When Stuck in a Fraud

If you suspect that you have been a victim of cyber fraud, it is essential to take immediate action. Here are the steps to follow:

  • Contact Your Bank: Notify your bank’s customer service and request them to freeze or block compromised accounts or cards.
  • Lodge a Complaint with NCRP (National Cyber Crime Reporting Portal): Register an account on the portal and file a detailed complaint.
  • Contact Cyber Thana or Local Police Station: Report the cyber fraud to the local police, especially if there is a local jurisdiction involved.

Sources

  • Kuvera
  • Business Today
  • Business Standard
  • Indian Express
  • Statista
  • Moneycontrol
  • Economic Times

Stay safe and secure your financial information by being aware of these threats. Report any suspicious activity to the authorities and take immediate action if you suspect that you have been a victim of cyber fraud.