With the rise in digital transactions, the dark side of technology emerges with scams, a few over-intelligent people devising ways to dupe gullible people for making a quick buck. I wanted to cover a few most common scams in India and how can we avoid falling trap to such scams.

Most of these scamsters target people who are not well versed with technology or are aged people.

There are several types of cyber financial fraud that have been reported in India, including:

1. Phishing scams: These involve fraudulent emails or websites that appear to be legitimate, but are designed to trick users into providing sensitive information such as login credentials, credit card numbers, or other personal information.
2. Credit card fraud: This occurs when someone uses a stolen or fake credit card to make unauthorized purchases or withdraw money from someone else’s account.
3. Investment fraud: This type of fraud involves scam artists who trick people into investing in fake or non-existent businesses or schemes, resulting in financial losses for the investors.
4. Lottery scams: These scams involve fake emails or letters claiming that the recipient has won a lottery or sweepstakes, and requesting personal information or payment to claim the prize.

It is important to be cautious when providing personal or financial information online and to verify the authenticity of websites or emails before providing any sensitive information. Below I will list down tips to avoid each of the above-listed scams. You might find some overlap between these scams while all of them hold true. 

Here are some tips for avoiding ‘Phishing’ scams:

1. Be cautious of emails or messages from unfamiliar senders, especially if they contain links or attachments.
2. Don’t click on links or download attachments from unfamiliar sources.
3. Verify the legitimacy of websites before entering any personal or financial information.
4. Look for the padlock icon in the address bar of your web browser, which indicates a secure connection.
5. Use antivirus software to protect your device and scan for malware.
6. Use strong, unique passwords for all your online accounts and enable two-factor authentication when available.
7. Be wary of unsolicited phone calls or messages, even if they appear to be from a legitimate company or organization.

By following these tips, you can help protect yourself from phishing scams and other types of online fraud.

Here are some tips for avoiding ‘Credit Card’ scams:

1. Keep your credit card information secure. Don’t share your credit card number, expiration date, or security code with anyone, and be careful when entering this information online.
2. Monitor your credit card statements regularly. Look for unauthorized charges and report any suspicious activity to your credit card issuer immediately.
3. Use secure websites when making online purchases. Look for the padlock icon in the address bar of your web browser, which indicates a secure connection.
4. Don’t provide personal or financial information over the phone unless you initiated the call and trust the person or organization you are speaking with.
5. Use strong, unique passwords for all your online accounts and enable two-factor authentication when available.
6. Don’t leave your credit card unattended in public places, and be careful when using it in restaurants or other locations where it could be out of your sight.

By following these tips, you can help protect yourself from credit card fraud and other types of financial scams.

Here are some tips for avoiding ‘Investment’ scams:

1. Be cautious of unsolicited offers, especially those that promise high returns with little or no risk.
2. Research the company or individual offering the investment opportunity. Check their credentials and look for any red flags, such as a lack of transparency or a history of complaints.
3. Understand the terms of the investment. Don’t invest in anything you don’t fully understand.
4. Don’t be pressured into making a decision. A legitimate investment opportunity will not require you to make a decision on the spot.
5. Be wary of investments that seem too good to be true. High returns with low risk are generally not realistic.
6. Don’t invest more than you can afford to lose. It’s important to diversify your investments and not put all your money into a single opportunity.

Here are some tips for avoiding ‘Lottery’ scams:

1. Remember that you cannot win a legitimate lottery or sweepstakes if you did not enter it.
2. Be cautious of unsolicited emails or letters claiming that you have won a prize.
3. Don’t provide personal or financial information to claim a prize. Legitimate lotteries and sweepstakes do not require you to provide sensitive information or make a payment to claim a prize.
4. Don’t wire money or send prepaid debit cards to claim a prize. This is a common tactic used by scammers to extract money from victims.
5. Research the company or organization behind the offer. Check their credentials and look for any red flags, such as a lack of transparency or a history of complaints.

There are a few other ways that are currently prevailing which people fall easily into:

1. A family or friend will ask for money from their social account
2. A family or friend will ask to click on some link from one of their social account

Here are some steps you can take to verify that a familiar person from your contact list is asking for money and that their account has not been hacked:

1. Reach out to the person directly through a separate communication channel, such as a phone call or a face-to-face conversation.
2. Confirm with them that they are indeed requesting money and that their account has not been compromised.
3. If you are still unsure, consider asking for additional verification, such as a password or a code that only the person should know.
4. Use caution when sending money, especially if the request seems out of character for the person or if you have doubts about the authenticity of the request.

By following these steps, you can help protect yourself from scams and ensure that you are not sending money to a hacker who has compromised your contact’s account.

Here are some steps you can take to verify that a familiar person from your contact list is asking you to click on a certain link and that their account has not been hacked:

1. Reach out to the person directly through a separate communication channel, such as a phone call or a face-to-face conversation.
2. Confirm with them that they are indeed requesting that you click on the link and that their account has not been compromised.
3. If you are still unsure, consider asking for additional verification, such as a password or a code that only the person should know.
4. Use caution when clicking on links, especially if the request seems out of character for the person or if you have doubts about the authenticity of the request.

By following these steps, you can help protect yourself from scams and ensure that you are not clicking on a link that has been sent by a hacker who has compromised your contact’s account.

There are many other types of online scams that have been reported in India and around the world. Some other examples include:

1. Dating scams: These scams involve fraudulent profiles on dating websites or apps that are used to trick people into sending money or personal information.
2. Ransomware scams: These scams involve hackers who infect a device with malware and then demand payment in exchange for unlocking it.
3. Tech support scams: These scams involve phone calls or pop-up messages that claim to be from a legitimate tech support company, but are actually designed to trick people into providing sensitive information or payment.
4. Charity scams: These scams involve fake charities or fundraising campaigns that request donations but do not use the funds for the intended purpose.
5. Travel scams: These scams involve fake travel websites or agencies that take payment for trips or accommodations but do not deliver the promised services.
6. Debt collection scams: These scams involve fake debt collectors who demand payment for non-existent debts or debts that the victim does not owe.
7. Online auction scams: These scams involve fake online auctions or classified ads, where the seller takes payment for an item but never delivers it.
8. Health scams: These scams involve fake health products or treatments that claim to cure or prevent diseases, but are actually ineffective or dangerous.
9. Business opportunity scams: These scams involve fake business opportunities that promise high returns with little or no risk, but actually result in financial losses for the victim.
10. Mortgage scams: These scams involve fraudulent mortgage brokers or lenders who take payment for fake mortgage loans or charge excessive fees for real loans.
11. Pyramid schemes: These scams involve investment schemes that rely on recruiting new participants to generate profits, rather than generating profits through legitimate business activities.
12. Online shopping scams: These scams involve fraudulent online stores or websites that take payment for products or services but never deliver them.
13. Employment scams: These scams involve fake job offers or employment opportunities that request personal or financial information or ask for upfront payment for training or other materials.

It is important to be cautious and do your research before providing personal or financial information or making any payments online. If something seems too good to be true or if you have doubts about the authenticity of a website or offer, it is best to be safe and avoid it.