Avoid getting scammed! Here’s What You Need To Do:

What You Can Do to Avoid a Scam?

Introduction to Scams in India:

According to one study, 70% of Indians when asked if they had been scammed in the previous year said YES! 70%!! That’s the highest in the world!

I mean, nowadays, every one of us is getting scammed one way or the other. Who is to blame?

Forget about blame. What can we do to avoid getting scammed?

Well, as per research, the biggest scams Indians suffer from, other than government scams, are…

1. Bank Account fraud. 

2. Fraud from E-commerce websites

3. Credit and debit card fraud.

Bank account fraud

Here, the scammer takes your bank account details such as account number, IFSC, and such, and via net banking, the scammer will move your money out of your account. This can be done directly by asking you for the details and stealing everything right away or by stealing the data.

If you have an account with a large listed company such as HDFC, ICICI, SBI, or others, you should not be concerned about data theft. They have the proper infrastructure to avoid getting scammed. And if at all, you give your bank details to someone, then be sure to never ever give your net banking details to anyone, no matter what.Β 

Never give out your OTP, no matter who asks or what the reason is. Most importantly, because scammers are becoming more sophisticated nowadays, if you are someone who deals with a lot of cash on a day-to-day basis, use applications such as firewall and antivirus services, and once your work is done, don’t forget to log out from the website.

Fraud from E-commerce

Here, it’s simple. If the deal looks too good to be true, then trust me, it is.

If Amazon & Flipkart, such giants, can’t sell you 20,000 phones for Rs. 2,000, then how come any other service provider can do it? Unless they are scammers.

One of my friends called me one day and asked whether he could buy the phone. I said the specifications are good. If you are getting a good deal, then why not?

He said, “Yes, it’s a fantastic deal; he’s getting a phone worth Rs.15,000 for just Rs.3,000.” Unfortunately, I didn’t take much interest in the price. But he sure was jumping.

And, yup, the phone never came. After the purchase, he showed the purchase confirmation details. I was certain that it was a scam. 

To avoid e-commerce scams, you must avoid unknown e-commerce websites. Just don’t take the risk.

Credit and debit card fraud.

Unfortunately, most people who fall for this kind of scam are senior citizens.

It’s a straightforward scheme. The scammer will collect all your card details, such as card number, expiry date, and CVV, and then they’ll ask for OTP. If you share your OTP, Gone! You’ll never see your money back ever again.

They know how to avoid leaving a trail. Meaning, The scammer will funnel your money in such a way that we’ll never know who took it and where it went.

To avoid getting scammed. As said earlier, no matter what, never give your card PIN and, most importantly, never share the OTP. Remember, If the person on the other side is legit, he or she will never ask you for your OTP.

URL & its Importance

Do you know what URL means? 

URL stands for “Uniform Resource Locators.” It’s like an address for your website. For example, my website name is “rakshithpai.com” You’ll reach me if you type this URL. Similarly, for every individual, company, or even government, if they have an online presence via a website, then they’ll have a URL. If the website is secured, it’ll have “HTTPS” instead of “HTTP”.

Anyway, if you get a link from someone and that link is alpha-numeric, like “amazon11223,” then stay away.

And suppose the website claims to be Amazon, but when you click the link, it takes you to some other page. Return back immediately and clear the browsing history. If you are still not sure whether the website is legit or not, just copy the link and paste it into the website “urllegit” or “scamadvisor”. They’ll tell you what it is.

What You Can Do to Avoid a Scam?

How To Avoid a Scam?

To Avoid a Scam, we must first learn how to identify one. These are the 4 signs by which you can make out if the other party is legitimate.

Scammers will pretend to be from a company you know

Many con artists contact their victims by claiming to be from the authorities. Some examples of genuine names that may be used are those of well-known companies and organizations, the tax department and other government organizations, etc. Some of these scammers pretend to be legitimate businesses, like utilities, tech companies, or even charities looking for donations.

The best way to make out whether the caller is legitimate is by cross-checking their website, phone calls, SMS, or email by googling, using applications such as ‘Trucaller’, or by simply being cautious and not entering into any and all unknown conversations and notifying the concerned officials. At least talk to your family and friends about this.

Con artists always claim there is a problem or a reward

A rumor might spread that you’re in legal trouble with the government authorities, wherein you are pressured to listen to the scammer to get over the issue. Another way scammers get hold of you is by knowing that you may have a financial need. They get your attention by offering high rewards and cash-back offers.

Some con artists may tell you that one of your accounts has been compromised and that they require you to verify some details.

Some people will tell lies to persuade you to pay a fee after they tell you that you won money in a lottery or sweepstakes.

You are put under urgent pressure to take action immediately!

Scammers depend on victims’ taking immediate action without fully considering the consequences. To prevent you from verifying their claims, they may ask you to stay on the line if they call you. In any case, they want to get their rewards. So, they pressurize you and get everything done as soon as possible. There is always a sense of urgency.

They might threaten to detain you, file a lawsuit against you, revoke your right to operate your bank account, credit or debit card, or even verbally abuse and threaten to attack. Someone may warn that they are right around the corner and will take action to protect their hand if they are not done as per what they say.

Con artists direct you to make a certain form of payment

They usually want to be paid with a money transfer service or a gift card with a number that can be used to get the money. Once paid, there is no chance of getting the money back. In fact, getting hold of the scammer will be a lost cause because they tend to be experts at not leaving an online trail.

Before making any payment to any unknown individual, Get complete certainty that the individual you are dealing with is legitimate. When it comes to money transfers, it is recommended that you enlist the assistance of tech-savvy members of your family and friends.

What You Can Do to Avoid a Scam?

Following are the 7 Easy steps you can take to avoid getting scammed.Β 

  1. Put a stop to those annoying phone calls and mail. It’s important to take precautions against spam calls and texts.
  2. Don’t respond to unexpected requests for sensitive information like bank account details. A real business will never ask you for your personal information, bank details, or credit or debit card information by phone, email, or text message. If they do need to ask, there are certain formalities for it. Certainly not by phone or SMS.
  3. Despite your belief that an email or text message is from a legitimate source, you should still exercise caution before clicking on any attachments or links. Try a reputable website to get in touch with them instead. Or you might try looking up their number. Try not to dial the number displayed on your caller ID or the one they provide you with.
  4. Do not give in to the need to rush things. Legal enterprises will offer you ample time to think things through. It’s fraud if the individual asking for your information or money is getting aggressive or showing urgency.
  5. Be aware of the methods con artists use to get your money. Never give money to someone who requires you to use a money transfer service or a gift card. Never return money that was originally sent to you via a check that you deposited.
  6. Put the brakes on and have a serious conversation with someone you can trust. You should first confide in a trusted friend, relative, or neighbor about what has transpired. You could figure out it’s a fraud after some discussion.
  7. If you think it’s a scam or if you feel uneasy with the conversation. Trust your senses and back off. At least, hold on to the transaction for the day. Ask them to contact you the next day, in the meantime, you can cross-check them.

For More Information, Check this Video:

Disclaimer: All the information on this website is published in good faith and for general information purposes only.

Also read:

7 Basic Traits of Rich People:
What is a Multi-bagger? How to find one?
What is Dividend Investing? Is it a Good Strategy?
How to Remain Resilient in Volatile Times?
Child Insurance Plans & How They Work?

Leave a Comment

Your email address will not be published. Required fields are marked *

error: Content is protected !!
Scroll to Top