In the past three to four years, digital payment modes have seen much traction as UPI transactions via phone have become more accessible. However, this has also led to many scammers using tech-related gaps and fool consumers in many ways. Scamming has become extremely easy with fraudsters luring consumers with fake offers. We list some methods used by fraudsters to fool people.
Phishing/Vishing: Scammers create a phishing website with URLs similar to a legitimate website, such as a bank’s website. These links are distributed via SMS, email, instant messenger, etc. Users mistake the URL for the legitimate URL of the website and enter security credentials such as the PIN, passwords, OTP, etc., which fraudsters collect and utilise.
Murari Sreedharan, CTO of BankBazaar.com, said, “The scammers may reach out over the phone pretending to be bank employees, insurance agents, government officials, etc., and may pressurise or trick you into revealing confidential and sensitive information. They…
