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7 Latest Deceptive Online Scams: Recognizing and Safeguarding Your Finances


Last Updated on February 13, 2024 by Kanakkupillai

Latest Deceptive Online Scams

1. UPI Refund Scam: Gaining Your Trust to Empty Your Account

The Unified Payments Interface (UPI) has become integral to daily transactions. Scammers exploit this by using official jargon and posing as bank officials or renowned e-commerce platforms. They promise a substantial refund and request you register through the link provided. This seemingly innocuous process requires entering your bank details, UPI ID, and PIN. Once you provide this information, they swiftly siphon funds from your account.

Protection Strategy: Confirm your eligibility for any refunds from verified sources. Legitimate entities won’t demand sensitive details via messages. Be cautious with links from unknown sources.

2. OTP Scam: Handing Over Control to Fraudsters

Fake messages from non-banking financial companies offering loans or credit enhancements trick recipients into sharing OTPs. Scammers exploit these codes for unauthorized transactions, swiftly draining accounts.

Protection Strategy: Avoid unsolicited offers that seem too good to be true. Never share OTPs or PINs, and avoid scanning unknown QR codes.

3. Fake Delivery Scam: Using E-commerce Processes Against You

Fraudsters mimic OTP-based e-commerce delivery processes, posing as delivery agents. They coerce victims into generating OTPs via links, granting them access to phones and bank accounts, ultimately leading to substantial losses.

Protection Strategy: Verify delivery details through official platforms. Always confirm delivery dates and check the legitimacy of the delivery agent before sharing OTPs.

4. Electricity Bill Fraud: Urgency as a Red Flag

Scammers send urgent messages demanding immediate action on electricity bill payments. Often riddled with spelling errors, these messages lead victims to contact unofficial numbers, resulting in financial losses.

Protection Strategy: Cross-reference messages and numbers with official sources. Beware of unsolicited communication pressuring hasty actions.

5. Fake Job Offer Scam: Exploiting Job Seekers’ Desperation

In the wake of Covid-19, remote work scams prey on job seekers with enticing offers. Fraudsters fabricate job postings and websites, conducting fake interviews to extract personal information and even upfront payments.

Protection Strategy: Research companies before committing. Avoid paying for job opportunities and scrutinize job offers that sound too good.

6. ‘Juice Jacking’ Scam: A New Form of Data Theft

Fraudsters exploit public charging ports to install malicious hardware or software, stealing sensitive phone data. This scam, known as ‘juice jacking,’ highlights the importance of vigilance while charging in public places.

Protection Strategy: Carry your charger or a reliable portable power bank to avoid using unknown charging stations.

7. Stock Market Scam: Watch Out for Unrealistic Promises

Get-rich-quick schemes targeting stock market enthusiasts promise excessive returns. Ads and online advisors lure victims with enticing offers, emphasizing the importance of due diligence.

Protection Strategy: Never share trading account details and carefully vet advisors’ credentials and performance before using their services.


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