Online Scams on the Rise: Latest Tricks You Need to Know to Stay Safe

The phone rings. A message from the Telecom Regulatory Authority of India (TRAI) warns: “Your mobile connection will be cut off due to unauthorized use.” The call then connects to TRAI’s customer service, where someone tells you what to do next. On other days, the call comes from the customs department, claiming: “A parcel with drugs in your name has been stopped. Pay up to avoid a criminal case.”

Sound familiar? Scammers are using new tricks to fool their victims, even using AI to find vulnerable targets. Young graduates are receiving fake job offers, while middle-aged parents are threatened with police cases. Retirees are tricked into sharing financial details, pretending it’s for KYC updates.

Cybercrime is rising fast in India. Despite warnings from the RBI, banks, and other organizations, many people still fall for scams. Between January and May 2024, 9.5 lakh complaints were filed on the National Cyber Crime Reporting Portal, an average of one complaint every 14 seconds. During this time, people in India lost Rs.1,750 crore to fraudsters.

Fraud numbers shot up to 7,000 daily complaints in May alone. 34% of internet users in India were targeted by scammers in 2023, according to a study by security firm Kaspersky. The firm detected and blocked 7.43 crore threats in the country.

A Real-life Example: A medical student, Dinesh Kumar from Jodhpur, fell for a scam when he got a message saying his KYC needed to be updated. He clicked on a link in the message and entered his bank details. Moments later, scammers wiped out Rs.21,000 from his account. Giving away such details is a big mistake. “Never share your confidential information,” warns Manish Agrawal, Senior Executive at HDFC Bank. Victims should file a police complaint immediately to have any chance of recovering the money.

Another Example: Finance professional Aarti Chopra from Delhi wanted to book a hotel in Goa. She clicked on a fake promotional link, booked a room, and paid through the site. When she didn’t get a confirmation, she contacted the hotel only to learn they hadn’t received her payment. Luckily, Chopra acted quickly. She filed a complaint with the cybercrime police and contacted her bank. Her swift action helped her recover the stolen money.

Many people hesitate to report scams because they feel embarrassed or want to avoid the hassle of filing a report. However, delays allow scammers to withdraw money from bank accounts. Prashant Mali, Founder of Cyber Law Consulting, says most scammers operate from overseas, and recovering stolen funds is rare.

Who is at Risk? Older people are often targeted because they’re less familiar with technology, but younger, internet-savvy users can also fall victim. Kaspersky reports that 34% of Indian internet users were targeted by cybercriminals in 2023.

How to Protect Yourself: Basic knowledge can help keep you safe. For instance, TRAI has clarified that phone disconnections are handled by your service provider, not by TRAI. The Central Board of Indirect Taxes and Customs (CBIC) has also confirmed that customs officers never call, text, or email people for payments.

Use common sense—why would the income-tax department call you for a refund and then ask for your bank details? Sudhir Kaushik, CEO of TaxSpanner.com, says, “If someone asks for your bank details for a refund, it’s an obvious scam.”

Be cautious about fake investment offers that promise to make you rich quickly. No one can guarantee 30-40% returns on an investment. Fraudsters often use apps and websites to show fake results to fool people. Ankit Chauhan, DCP of South District Delhi Police, explains that scammers prey on people’s financial problems, luring them with promises of easy money.

In some cases, victims manage to outsmart the scammers. Mayank Saini, for example, was able to pocket the initial gains fraudsters gave him to lure him further. Instead of investing more, he closed the account and walked away.

By staying vigilant and acting fast, you can protect yourself from falling victim to online scams.