Scams To Watch Out For On The Web

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There are many different types of scams that you should be aware of, especially if you spend a lot of time online. These online scams in India can take the form of ads, emails, or personal messages. They’re often looking to get your personal information and steal money from you. Some common types of scams include:
1) Expiration Scams- This type of scam will try to trick you into thinking that an offer is only good for a limited time.
2) Phishing Scams- This scam will send an email that looks like it came from a company that you trust, such as Amazon or Facebook, which asks for your personal information.
3) Fake Deals and Free Offers- If you see an offer on social

 

Coronavirus has given fraudsters more opportunities than ever to cheat consumers out of their money.  For example, the Chartered Trading Standards Institute (CTSI) has uncovered a scheme where people are sent a text message claiming to be from the NHS which informs the recipient that, “we have identified that you are eligible to apply for your vaccine.”  The message ends with a link to a bogus website mocked up to look like a legitimate NHS platform. The website requests personal details, including name and address and bank details, supposedly for verification.   The NHS says it will never ask for any details about your bank account, passwords, or PIN numbers.  So, as the pandemic continues with another national lockdown, we look at the fraud trends to watch out for in the year ahead.

 

The Scams

Scams are a serious problem for many people. Scammers are always on the lookout for new victims, and they can find them in any age group, gender, or income bracket. They often alter their approach to suit the victim’s personality type. Many times scammers prey on naïve people who are unfamiliar with online scams. Here are some tips to avoid being taken by a scammer.

If you’ve been the victim of an online scam, we want to offer our deepest sympathy and support. You might feel like you were duped and betrayed by someone you don’t know and can’t see. And you may be right: these criminals often use fake profiles and building trust with victims in order to steal their money or personal information. The scammers might also create a sense of urgency that makes it difficult for victims to think clearly. By the time they realize they’ve been duped, it might be too late. But there are steps you can take to protect yourself from falling victim again, which are discussed here.

You receive an email saying there is a pending payment to your bank, account or HMRC. The email looks like it’s come from your bank or a trusted organization such as HMRC.  You are asked to put money into the account, with the fraudsters requesting payment into their personal bank account instead of your own.  When you try to make the payment on the fraudsters’ account, you get a message that says the account is temporarily locked, so you should send a code.  This code, usually sent to your mobile phone, looks like it is coming from your bank or a trusted organization such as HMRC.  You send the code to the fraudsters’ account, and as a result of this transfer, the money leaves your account.  The money in your account is stolen, and the fraudster loses out.

Read- biggest stock market scams in india

 

The Cost and Consequences

The internet is a vast and wonderful place, but it can also be a dangerous place. Scammers are everywhere, ready to steal your money and take advantage of you.
Here, we’ll go over some ways to protect yourself from scams and stay safe on the internet. We’ll discuss what phishing is and why we should always be conscious of what we’re clicking on or downloading. We’ll also talk about malware and how to avoid it. Let’s get started!

App developers are increasingly using ‘authorized push payment’, where they ask you to make a payment with your card. They don’t ask for your card details or bank details – the bank itself authorizes the payment.  The fraudster will add a ‘Secure Exchange Token’ (SE-Token) to the payment and then claim to be sending you your funds. They will also add an SMS-based link to the app to allow you to verify the payment before it gets sent.  But if you click on this link, you may be transferred to a fraudulent website. As you enter your details into the site, your personal details are automatically copied to the fraudulent app. Your card details are then stolen and your account is emptied.

 

How to protect yourself

Thousands of people are victims of online scams every year. It is important to know how to recognize such scams and avoid such losses. There are many different types of scams, but the most common ones come in the form of business opportunities, investment opportunities, and job offers. These scams can be very convincing and it is hard to figure out which ones are real and which ones are not. Here, we will look at some common questions and answers about recognizing and avoiding these scams.

Do not click on links in emails or text messages if you are not sure of their origin, origins, or validity.  Go directly to the website if it is legitimate, to check its security features.  Check the address of the website from the registration page and the business name on the web page.  Look for( HTTPS) as the keypad will indicate this.  If you find that a website looks different from how it appeared on the registration page, this is also a warning sign.  Seek advice from your bank or building society if you suspect fraud is occurring.  If you suspect you have been the victim of a fraud, you should report it to Police.

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Conclusion

It is estimated that 50% of app-based payments are being withdrawn before they are delivered. You may be tricked into thinking that sending money to an app is safer than making a transaction in your local high street, but the truth is that criminals are exploiting a shift in consumer behavior.  Think of it this way – who is more likely to feel that they are at risk, someone using an app or someone in a shop? Those that are more likely to feel at risk are the younger generation who do not have much of a banking background. So, not only are fraudsters targeting the less financially savvy consumers, they are targeting them at their most vulnerable times, at a time when they can least afford it.

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