India has been ranked at number three in Phishing scams worldwide. The con artists here are always trying to up the ante in the scamming game in order to stay on top.
Earlier, people used to get calls from unknown numbers asking for private information like, account details and other personal details or even CVV numbers for ease of hacking and many would fall pray to these shenanigans. But, soon customers started rejecting to share their information. Often, they were threatened that they will lose all their money and their account will be blocked by order of the Reserve Bank of India (RBI). But, people started pushing back.
Many have receive calls ostensibly from their banks pretending maintenance or upgradation of their account. They were asked for account numbers. When they gave their account number they were asked for the three digit, CVV number which would easily help the scammers to get into the customers account and withdraw money online.
Also Read: Trade War: Trump says US has been ripped off
Since the customers have stopped falling for these baits now, the scammers game has been upped. With advancing technology the scammers have now found other ways of reaching out to the victims, like emails, messages and websites. People get text messages like “ Dear customer your AXIS Bank Debit Card points worth Rs 3,897 expired by 20/06/2018. Kindly convert your point in cash by clicking on the link below.” The moment you click on the link, the game begins. Also, mails stating that your account will be blocked if you do not mail your account details are becoming common.
Such unsolicited email, text messages, and telephone calls purportedly from a legitimate company requesting personal, financial, and/or login credentials is known as Phishing and it is a form of cyber-crime.
Earlier, it occurred mostly on calls but now, it has spread its reach to SMS, WhatsApp, emails, messages and websites as well.
People in India are increasingly becoming internet savvy thanks to the smartphones. Now everyone has activated Net banking. But, very few have any information on Phishing and they easily part with their personal information online.
Scammers use this information to drain their accounts. The identity of these scammers is very well hidden and they are extremely difficult to track.
If your account has been compromised and money withdrawn, banks do not offer any specific support. However, if written to, the authorities lodge a complaint with the police department. Some banks like, ICICI issue notices from time to time informing their customers about fake emails, messages and calls. All banks also run public interest messages against this phenomenon at the end of their TV commercials or radio jingles. They inform openly that they do not call, mail or message to get personal information of any customer.
Don’t worry because the simple rule is that if you don’t part with your information readily then, no one can touch the money in your account. Here are a few steps that can be taken to redeem the money lost:
1. Instantly complaint about any unknown transaction to the bank
2. Freeze the account and break the ATM card
3. Note the details of these transactions
4. Lodge a complaint and report to the FBI, cybercrime branch
5. Contact the merchants involved in the transaction and get their help
6. Contact the cyber crime cell of your city and give them all the information