Top 5 Online Frauds and Prevention Tips: According to a report, cyber fraud in India could cause losses of over ₹22,845 crore in 2024, which is nearly nine times more than in 2022. These threats could become even more advanced in 2026. Learn how to stay safe in the New Year.
Digital Arrest and AI Voice
The phone rings. The caller identifies themselves as a police officer, CBI, TRAI, or customs officer. They claim your name is linked to drugs, money laundering, or a major crime. Shortly thereafter, an FIR, court order, and government ID are sent via WhatsApp. Then, they say you're under digital arrest. It's mandatory to remain on the video call, you're forbidden to tell anyone, and if you disconnect the call, the police will immediately arrive at your home. Fearful, people transfer lakhs of rupees for investigations. But the truth is that no government agency in India arrests or demands money over phone or video calls. This entire game is based on fear. Furthermore, fraudsters are using AI to create fake calls and videos by capturing voices and videos from social media. Calls are being made using the boss's voice at work or your wife and children's voices at home. To avoid these, establish a secret code word for your family and office, and ensure any emergency calls are checked through a different method.
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Fake QR Codes and UPI Scams
UPI has made payments easy, but fraudsters have turned this very facility into a weapon. Sometimes someone says that money has accidentally come into your account, scan the QR to withdraw it. Sometimes while selling goods online, it is said that QR has to be scanned to get the money. The truth is that as soon as the QR is scanned, the money is deducted, it is not received. At many places, in shops or petrol pumps, fake QRs are pasted over the real QR and the customer's money goes directly into the fraudster's account. Remember, to receive money, neither QR is scanned nor PIN is entered.
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Fake trading apps and investment scams
Videos of big names are seen on social media, 'guaranteed returns', 'secret trading tips'... You are added to WhatsApp-Telegram groups, a professional-looking trading app is downloaded. Initially, you invest a small amount, profits are seen and sometimes some money is also returned. As soon as trust is built, a huge amount is invested. Then more money is demanded in the name of taxes, fees or charges. Finally, the app is closed, the group disappears and so is the money. Keep in mind that there is no shortcut to earning 5-10% daily in the stock market.
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Instant loan app
Some apps claim to provide instant loans without paperwork and without questions. However, these apps even ask for permission to access your mobile's contacts, photos, and messages. While the loan is small, the interest can be as high as 30-40% per week. Failure to repay on time can lead to abuse, threats, and even defamation through edited photos. Therefore, be careful to only take a loan from an app run by an RBI-registered bank or NBFC.
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Phishing, SIM swaps, and romance scams
These days, phishing messages look exactly like bank messages. The link resembles the real website, with just a few letters changed. In a SIM swap, your number is transferred to someone else, and they receive the OTP. In a romance scam, trust is slowly built in the name of friendship or love, and then money is extracted in the name of investment or assistance.
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