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Insurance Article

How Not to Fall Prey to Fraudsters Online

March 31 2016
hacker stealing important information

Top online frauds and safe practices to avoid falling prey to them

Internet has made our lives easier by enabling us to pay bills, buy things, book tickets and do a lot more at just a click of a mouse. However, it has also increased our fraud vulnerability. No matter how secure a website promises to be, the information you share with it is always at a risk of getting misused.

Norway based telecom operator Telenor ASA surveyed a group of Indians who have been a victim of an online fraud and it was found that 90% of them have lost money on an average of ₹8.19 lakhs. Also the same group of people was the most aware of such frauds with 85% of them aware about internet scams and 63% of them seriously concerned about these scams.

Top Online Frauds

  • Phishing email frauds: Fraudulent mails asking bank credentials, social account details, work account information or other sensitive information. Appear to come from an official source, they will persuade you to follow the instructions inside them and input your sensitive information.
  • Money laundering frauds: Spam mails asking to submit a sum of money with a promise to multiply the deposited sum. This will be accompanied by fake cheques and testimonials to assure you they are real.
  • Lottery and greeting card fraud: A classic fraud involving a fraudulent mail congratulating you on wining a lottery or getting a gift card from a friend. Once you proceed, you would be prompted to deposit some money or download malicious software.
  • Work from home fraud: Advertisements and links to work from home job opportunities where you are prompted to pay a sum to start the work. This will be accompanied by fake testimonials.
  • Bank loan, credit card or insurance fraud: Fraudulent mails or calls to promote loans, credit cards and insurance policies. Once you agree, you would be prompted to deposit a certain amount.

Ways to Avoid Falling Prey to Online Frauds

  • Banks, social networking sites and professional organizations never ask for confidential details like username, password, card CVV number etc. Never share such information with anyone.
  • Never reply to money laundering mails and report these mails to the nearest cybercrime cell.
  • While performing online transactions check the security of the page. If the page will be secure it will begin with “https” instead of “http”.
  • Never store passwords and other sensitive information in your browser or smartphones. Your sensitive information may be compromised in case your smartphone gets stolen.
  • Banks do send promotional mails and call their customers, but they never offer unrealistic rates or ask money in return. Immediately report the incident to the branch’s head office or contact your nearest branch.

Stay Smart Stay Protected

With financial frauds on a rise due to ease of mobile and net banking, buyers need to be aware of cybercrimes and fraudulent activities. Banks do promote insurance schemes, credit cards, loans and other services online, but they never ask any sensitive information or money in return. Any mischievous incident must be immediately reported to the bank or the local cybercrime cell. Not only will it save you but hundreds of others who would otherwise fall prey to it.

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