Bolt the door to your Digital world; Safeguard yourself against Six Online Frauds

By Mr. Vishal Gupta

The purpose of increasing awareness about different fraudulent activities and instructing individuals on safeguarding themselves against such schemes. Given the prevalence of online fraud in today’s digital era, it’s essential to remain updated about the newest scams and take measures to protect oneself. In this article, we’ll delve into six online frauds that pose significant risks and offer suggestions on avoiding these scams.

Deep Fake:

Deep fake technology has evolved rapidly, allowing scammers to create convincing videos or audio recordings of individuals saying or doing things they never did. These manipulated videos can be used to defame or blackmail individuals. To safeguard yourself from deep fake fraud:

Be cautious about sharing personal videos or images online.

• Verify the authenticity of any questionable content or communication.
• Enable two-factor authentication on your accounts for an extra layer of security.
• Few Banks require video authentication for issuing Credit Card, however ensure that the process is through the bank’s official app.

UPI Refund Scam:

Unified Payments Interface (UPI) is a popular digital payment method, and scammers take advantage of it by posing as customer support representatives, promising refunds for fake transactions. To protect you rself from UPI refund scams:

• Verify the legitimacy of any refund request by contacting your bank directly.
• Never share sensitive information like OTPs, PINs, or banking credentials over the phone.
• Be cautious when dealing with unknown or unverified sources.
• Be sure to not click ‘Pay’ option while dealing with any unknown source.

OTP Scam:

One-Time Password (OTP) scams involve tricking individuals into sharing their OTPs, which are often required for secure transactions. Scammers can use OTPs to gain unauthorized access to your accounts. To safeguard yourself from OTP scams:

• Never share OTPs with anyone, as they are meant for your use only.
• Be cautious when receiving unsolicited requests for OTPs, even if they appear to be from a trusted source.
• Double check the landing page before entering the OTP
• Educate yourself about common scam tactics to recognize potential threats.

Fake Delivery Scam:

Scammers may send fake delivery notifications, claiming that you have an outstanding package or need to make a payment for a delivery. To protect yourself from fake delivery scams:

• Verify the legitimacy of delivery notifications by contacting the delivery company directly.
• Do not click on suspicious links or provide personal information in response to such notifications.
• Stay informed about common delivery scams to recognize warning signs.

Electricity Bill Fraud:

Scammers can impersonate utility companies and demand immediate payment for fake electricity bills. To avoid falling victim to electricity bill fraud:

• Contact your utility company using official contact information to verify the status of your bill.
• Avoid making payments through unverified channels or sharing personal information with unknown callers.
• Keep records of your utility bills and payment history for reference.
• Do not make any payment while following the caller’s instructions. Go to the official site and make the payment.

Free Gifts Scam:

Fraudsters often lure individuals with the promise of free gifts or prizes in exchange for personal information or payments. To protect yourself from free gifts scams:

• Be skeptical of offers that sound too good to be true.
• Verify the legitimacy of the promotion or gift by researching the company or organization.
• Avoid sharing financial information with unknown entities that promise over the top prize.

In conclusion, staying vigilant and informed about the various online frauds is essential to protect yourself from becoming a victim. While companies are working towards improving their technology to counter such types of frauds but you should always exercise caution when dealing with unknown or unsolicited requests, and verify the legitimacy of the initiator. Education and awareness are your best allies in the fight against online fraud.

(The author is Mr. Vishal Gupta, CEO of Seclore, and the views expressed in this article are his own)