CYBER FRAUD PROTECTION

 

People who make online transactions, must make sure to avoid or minimize the risk of falling prey to Cyber scams

 

u

What is a Cyber Fraud ?

Cyber fraud is any crime that is committed with the use of a computer or to computer data. This can look like many things, such as:

  • Identity theft
  • Stolen bank account numbers
  • Stolen online passwords
  • Hacking
  • Phishing
  • Terrorist attacks
  • Bullying
  • Copyright infringement
  • Cyber stalking
  • Theft of Intellectual Property (IP)
  • Theft of Personal Health Information (PHI)
  • Theft of Personally Identifiable Information (PII)
List of online scams need to stay away ?

Phishing email scams

The Nigerian scam

Greeting card scams

Bank loan or credit card scam

Lottery scam

Hitman scam

Romance scams

Fake antivirus software

Facebook impersonation scam (hijacked profile scam)

Make money fast scams (Economic scams)

Travel scams

Bitcoin scams

Fake news scam

Fake shopping websites

Loyalty points phishing scam

Job offer scams

SMS Scaming(Smshing)

Overpayment Online Scam

Tech Support Online Scams

What are the method of Cyber Fraud ?

The method used to commit such crimes is sending, seemingly legitimate link, but once clicked, the link installs a virus on the victim’s computer that records keystrokes to enable the acquisition of passwords, account numbers, and emails sent to others. All of the information obtained from these types of attacks are collected by the criminal and put up for sale. This kind of attack is commonly referred to as Phishing.

Guard your personal information

Crooks pretending to be from companies you do business with may call or send an email, claiming they need to verify your personal information. Don’t provide your credit card or bank account number unless you are actually paying for something and know who you are sending payment to. Your social security number should not be necessary unless you are applying for credit. Be especially suspicious if someone claiming to be from a company with whom you have an account asks for information that the business already has.

Fully understand the offer

A legitimate seller will give you all the details about the products or services, the total price, the delivery time, the refund and cancellation policies, and the terms of any warranty. Contact the seller if any of these details are missing, if they are unable to provide the details, it may be a sign that it’s a scam.

Fake websites:
  • Be aware! Phony “look-alike” web sites are designed to trick consumers and collect their personal information. Make sure the sites you transact business on post their privacy and security statements, and review them carefully.
  • Scammers can easily copy the logo or even the entire website of a genuine organization. Check the URL to ensure it is spelt correctly and hasn’t changed to a slightly different spelling, perhaps with additional letters or with the letters swapped around. Within banking and e-commerce sites, the URL should change to “https://” from “http://” ( ‘s’ stands for secure) when you reach the payment point or the point where you are asked to type in passwords and usernames.
Malicious software:

Scammers try to install software on your computer so that they can gain access to files, personal information and passwords. They may trick you into clicking on a link or pop-up message in a spam e-mail or text, or get you to visit a fake website set up solely to infect people’s computers. 

Phishing/smishing:

You receive a seemingly legitimate e-mail or text, often claiming to be from your bank. The message will ask you for your personal information or contain a link to a website where you can update or confirm your information. A legitimate bank or financial institution will never ask you to click on a link in an email or send your account details through an email or website.

Don't Believe every email or text massage received:

Phishing is one of the most common types of fraud. In this case, emails or text messages are sent to individuals to trick them into divulging personal information, such as their bank details or social insurance number. Anyone who shops, pays or banks online can become the target of a phishing scam. It’s important to be on your guard—especially since, most of the time, the content of these fake emails and text messages appears to come from a reliable, well-known source. In fact, the phishing websites that scammers use do a good job of masquerading as official websites.

To prevent the same thing from happening to you, refrain from answering text messages or emails of this sort or clicking on attached links, and never give out your personal information and banking details. When in doubt, phone the company that is requesting the information.

Don't share your Bank details over social media:

This may seem like common sense, but it’s something that’s increasingly prevalent on social media right now, especially on Facebook. Have you ever received a private message from someone pretending to be a friend in urgent need of money? This happened to Stephanie, a political science student, who wanted to help a friend out after she supposedly lost her wallet while on vacation in Australia. Unfortunately, the person on the other end turned out to be a scammer and had hacked her friend’s Facebook account.

“To be honest, it was hard for me to detect, since the scammer mimicked my friend’s writing style to a T,” she recounts. “She said she lost her wallet and needed money for a rental car. The next thing I know, close to $3,000 is charged to my credit card. It doesn’t make me stingier about helping my friends in need, but it’s certainly the last time I’ll ever share my bank details through a conversation on social media. If it’s really an emergency, I’ll get on the phone with that person and handle it directly that way.”

If you find yourself in this kind of situation, refrain from divulging your banking information, unless you are certain you are using a secure line of communication.
Be alert to transfer requests on UPI:

Fraudsters take advantage of the ‘request money’ option on UPI apps such as Bharat Interface for Money (BHIM), Google Pay, PhonePe, etc. Imposters show interest in buying a product advertised on various online platforms and engage with the seller on a phone call. They make the seller of the product to transfer the money using UPI apps’ ‘request money’ option. There have been numerous instances of such frauds in the last couple of months.

Maya makes suggestions to overcome this menace. “Companies should change the user interface of the app in a way that user will be more alert when request money window pops up on the screen. Also, clearly mention that after accepting this transaction (request), your account will be debited with Rs XYZ amount.” At present, to make it user friendly, Google Pay explicitly points out the direction of the money flow in the user interface to make it easy for the user to distinguish between send and receive requests.

“Users need to be mindful that a transaction which requires them to enter their PIN, is for sending money. Remember, receiving money requires no PIN. If you receive a payment request from someone whom you don’t know or cannot immediately identify, then you should immediately decline the request.” NPCI has also urged users to decline all such requests coming from unknown payment addresses.

Google Pay’s security infrastructure detects risk and fraud on the product. This alerts, the users before making any transactions. For instance, if you receive a request from someone who is not in your contacts list, it displays a ‘stranger warning’ (refer image given below).  You can block the user, report as SPAM or continue if you are convinced with the identity of the person. The other UPI apps too have similar pay, decline and block options.

Security features of the app also help to identify requests from high-risk users and a ‘spam warning’ is shown to the recipient (see image below).

Avoid fake helpline numbers on social media or google:

These days, UPI customers tweet about issues related to redeeming offers, availing cashback, money transfers, initiating refunds, and more. Unfortunately, some users post the issues on counterfeit twitter handles and approach fake customer care numbers posted on that social media page. The fraudsters also keep a track of what’s being posted on twitter and approach the user under the guise of helping them.

 “To resolving the issue, fraudsters ask users to share sensitive information such as credit / debit card details and the OTP details received on their phone. As soon as users share their card details, OTP or accept the request, the money gets transferred from the users account to the fraudster’s account.” It is advisable to connect with the company only through official accounts across various social media platforms or customer care number mentioned on companies’ websites.

Don’t be blinded by love:

These days, UPI customers tweet about issues related to redeeming offers, availing cashback, money transfers, initiating refunds, and more. Unfortunately, some users post the issues on counterfeit twitter handles and approach fake customer care numbers posted on that social media page. The fraudsters also keep a track of what’s being posted on twitter and approach the user under the guise of helping them.

 “To resolving the issue, fraudsters ask users to share sensitive information such as credit / debit card details and the OTP details received on their phone. As soon as users share their card details, OTP or accept the request, the money gets transferred from the users account to the fraudster’s account.” It is advisable to connect with the company only through official accounts across various social media platforms or customer care number mentioned on companies’ websites.

u

Strong Password

Choose passwords or Personal Identification Numbers (PINs) that are difficult for others to guess, and use a different password for each of your Internet accounts, and change them frequently. Use both letters and numbers and a combination of lower and upper case letters if the passwords are case sensitive.

Pin It on Pinterest

Share This