How Fraudsters Targets Victims and What You Need to Learn from it

Cyber security + Global news admin todayApril 24, 2019 183 1 195 3

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Recently there have been lots of payment-related scams reported by users. In this Blog, you will gonna learn how the Fraud will take place and the Lesson You should Learn from it.

1. The remote access mobile application scam

Modus Operandi

In Mumbai, Fraudsters had listed fake numbers in an online platform under an NGO’s name and tricked a Mumbai resident by asking her debit card details by Anydesk, a remote software tool that shares your complete screen to any third party. She wanted to transfer funds to the NGO. Instead, her debit card details got compromised and Fraudsters steal around Rs 30,000 from her bank account.

Lessons to Learn

Do not seek help from a third party or any stranger, they may use your data for their own purpose. Download Official apps and stay away from unofficial ones.

2. Trap for gullible insurance seekers

Modus operandi

In this, scammers prey on individuals who aren’t able to determine the difference between Fake and Real Portals. A counterfeit portal on the name of irdai with fake URL www.irdaionline.org was selling sell fake policies to insurance seekers, later Irdai issued an alert and the Url got blocked.

Lessons to learn

Irdai does not sell insurance policies originally. Stay away from portals misuse domains in name of the official ones.

3. Phishing SMSes promising income tax refund

Modus operandi

An Employee from a Mumbai-based Private Company received a link from the income tax department, saying about a tax refund that he was eligible for. After Clicking the Link, the Application got installed on his phone, Tricksters obtained his account access and siphoned off money.

Lessons to learn

The income tax department directly credits the refund without contacting you as mentioned in your I-T Return Form. Do not trust any links, messages, online forms, or calls asking for additional account details.

4. The KYC update hoax

Modus operandi

An IAS officer in Udaipur lost over 6 lakh when she clicked on a fraudulent link that was asking her to update her KYC. She was prompted by the fraudster to enter her account details and after OTP received, she also received a message from the bank notifying 6 lakh debited.

Lessons to learn

Do not click on any links received through SMS. Rely only on official websites or bank branches to complete any process.

5. Simple to-crack passwords

Modus operandi

Here, victims allow hackers to hack themselves effortlessly.  NCSC released a list of ‘most hacked’ passwords. According to it, over 23 million accounts that were breached worldwide were having 123456 as their password which is easy to crack by hackers.

Lessons to learn

Always change your password and don’t use easy to guess passwords to keep hackers at bay.


UNIFIED PAYMENTS INTERFACE (UPI)

6. Fake UPI-based payment links

Modus operandi

Fraudster asked a Pune-based trader, to transfer a nominal amount of Rs 10 to a mobile number from his digital wallet. They presented it as a ‘registration fee’ to initiate the online purchase of a scooter. He received payment links where he filled his UPI ID and OTP received and sent it back to the fraudster. The information cost him over 1.53lakh to his bank account.

Lessons to learn

Transact only through the official BHIM UPI or bank UPI apps. Do not use any links sent by unknown entities, even if it looks authentic.

7. Fraudulent NPCI/UPI/BHIM handles and portals

Modus operandi

Myriad Twitter handles masquerading as @NPCI_BHIM official helpline handle has mushroomed on the micro-blogging site. The fake accounts target customers who are new and are looking for help to reveal their wallet, card, and account details.

Lessons to learn

Look for verified Twitter blue ticks while interacting with National Payments Corporation of India (NPCI), bank, or payment wallet helplines.

8. Lack of awareness of UPI pay options

Modus operandi

Recently a Pune resident willing to sell his air-cooler got tricked by a prospective buyer who made an agreement with him that he will pay `9,000 through UPI but didn’t make it. However, the letter sent a ‘pay’ request to the former, who promptly authorized it without realizing that the amount would be debited from, not credited to, his account.

Lessons to learn

The use of newer technologies calls for additional caution. Since UPI-based apps enable users to pay/send and receive/collect transactions, newer users could get confused about the meaning and difference. Understand the processes before using them.

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Post comments (1)

  1. Ronaldnen on January 15, 2022

    Black market goods divert revenue from important projects
    The public and private sector are working together to safeguard communities from scammers.

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UDS LABS is a Data Security Firm, we provide assistance in all your problem regarding securing your Data. Our Aim is to Minimise much Cyber Crimes by Providing you Awareness Digitally.




UDS LABS is a Data Security Firm, we provide assistance in all your problem regarding securing your Data. Our Aim is to Minimise much Cyber Crimes by Providing you Awareness Digitally.



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