Beware- You can be the Next Victim of Cyber Crime

 

Image Credit: Google

You wake up in the morning, open your phone and receive a message: Dear customer, you have won a lottery of Rs. 10 Lakh. Please provide your bank verification details to proceed with the transaction.

It is a SCAM ALERT! 

You are going to be the next victim of cyber fraud if you provide your details. Don’t fall for them anymore.

Online payments and banking systems have made it easy to pay and shop, and complete major transactions and investments digitally, but it has also invited cyber fraud. But one wrong click on the website can land you straight in the hands of fraudsters looking to catch and rob all your money. 

How does this cheating works? 

QR Code Scam: Scammers will pretend that the payment has failed and will ask the sellers/ customers to scan a QR code and enter the UPI pin. 

SIM Swap Fraud: The fraudster will the sim by getting a new card from the mobile service provider, and then they will do multiple money transfers from your bank account. This also happens with people who accidentally lose their phones or someone robs their phones. 

Online Banking Fraud: Scammers will ask you to give in your bank account details by offering you services like credit card facility, 0% interest on such loans, etc. and if you fall for it, they transfer all of your money.

Screen Sharing Fraud: The Scammer calls as a bank employee to access your phone through an application and asks you to share a QR code that shares the screen, revealing everything you type in the process. 

There have been innumerable cases of cyber fraud in the country over the decades. In the UIDAI Adhar Software case, 2018 around 210 Indian government websites were hacked and all the details got leaked. Since then various accounts on Instagram, Facebook, etc. were hacked, asking for financial favors. 

Image Credits: Google

How to fight against it?

i. The 14C Scheme:

To control the rising Cyber Crimes Fraud, the Government of India has introduced the Indian Cyber Crime Coordination Centre, also known as 14 Scheme to fight against cybercrime. It also prevents the exploitation of terrorist and extremist groups.

 ii. Complaint National Cyber Crime reporting portal:

Whenever a cyber-fraud occurs that causes financial loss, a victim can access the website www.cybercrime.gov.in to file a complaint and report the cybercrime. 

 iii. Under Section 154 (3) CRPC: 

There are situations where the complaint is filed but no action is taken. In such cases, the victim has the right to approach the Superintendent of Police (SoP) under Section 154(3) of CrPC to lodge an FIR. Even after that, if no action is taken, the victim can report to the Judicial or Metropolitan Magistrate of the state under Section 156 (3) of CrPC to seek a direction to lodge the FIR.

 Whenever there is a commission of any financial fraud, time is considered to be of the utmost essence, and the RBI guidelines say the person should report the same without delay.

 Ways to avoid financial cyber-crimes:

i. Don’t click on unverified links.

ii. Browse secured and verified websites only.

iii. Use smart and verified apps only.

iv. Don’t provide OTP to random sites or persons.

v. Strict vigilance on banking security. 

vi. Use safe Wi-Fi connections.

vii. Don’t respond to fake calls and SMS.

viii. Boost your computer and mobile security.

As per RBI, cyber frauds have cost the country an estimated Rs 100 crores a day over the last 7 to 8 years. The first cybercrime appeared in the year 1992 with the release of the first polymorphic virus, and in India, one of the first cases of cybercrime was Yahoo vs Akash Arora (1999). Telangana reported the highest number of cybercrimes in the year 2021.

What are your views on this? Do let me know in the comments.