We are committed to help individuals identify and prevent financial fraud. With the increasing prevalence of scams such as identity theft, credit card fraud, and investment fraud, our mission is to provide valuable resources and guidance to safeguard your finances. Stay educated and protect your financial future.
Types of Financial Frauds
Lottery or Prize Scams
Description:
Victims are informed that they’ve won a lottery or prize and must pay a fee or provide bank details to claim it.
Example:
A victim receives an email claiming they’ve won ₹10 lakhs in a contest they never entered and loses money while trying to claim the prize.
Credit/Debit Card Skimming
Description:
Fraudsters use devices to steal card information during legitimate transactions. Skimming devices are often attached to ATMs, fuel pumps, or POS machines.
Example:
A victim swipes their debit card at a compromised ATM. Days later, unauthorized transactions are made using their card information.
Online Shopping Frauds
Description:
Fraudulent e-commerce websites or sellers deceive buyers by offering fake products, not delivering items, or stealing payment details.
Example:
A victim purchases a smartphone at an unbelievable discount from an unknown website but never receives the product.
SIM Swap Fraud
Description:
Fraudsters gain control of a victim’s phone number by impersonating them and requesting a new SIM card from their mobile provider.
Example:
The victim’s phone stops working, and the fraudster uses the new SIM to bypass two-factor authentication and access bank accounts.
Loan Frauds
Description:
Fraudsters offer fake loans with low interest rates, requiring victims to pay upfront fees or provide sensitive documents.
Example:
A victim applies for a loan online and pays a processing fee but never receives the loan.
Fake Job Frauds
Description:
Scammers offer fake job opportunities requiring victims to pay a fee for registration, training, or documentation.
Example:
A victim pays for a work-from-home job kit but receives nothing in return.
Phishing Scams
Description:
Phishing involves fraudulent attempts to obtain sensitive personal and financial information (e.g., bank account numbers, credit card details) by impersonating legitimate organizations through emails, messages, or fake websites.
Example:
A victim receives an email claiming to be from their bank, asking them to update their account details by clicking on a link. The link redirects to a fake website that captures their credentials.
UPI Frauds
Description:
Fraudsters exploit Unified Payments Interface (UPI) apps to trick victims into transferring money using fake links or QR codes.
Example:
A victim receives a payment request link disguised as a refund and unknowingly authorizes a debit from their account.
Identity Theft
Description:
Fraudsters use stolen personal information to open accounts, take loans, or make unauthorized transactions.
Example:
Using the victim’s Aadhaar details, a fraudster opens a bank account and applies for credit in their name.
Fake Charity Scams
Description:
Scammers create fake charities or crowdfunding campaigns to exploit victims’ generosity.
Example:
A victim donates to a fake disaster relief fund advertised on social media.