Investment and Task Based Fraud
A new trend in financial cyber fraud has been observed wherein fraudsters lure you through fake investments or task based job offers via digital advertisements, online messengers and bulk SMS offering unusually high returns for minimal
investment or while working from home with little time and effort.
- Fake Investment Opportunities : Fraudsters create enticing online ads promoting fake investment opportunities, promising high returns. Victims are directed to fraudulent websites to invest money.
- Task-Based Fraud through Online Messenger : Scammers use online messenger platforms to offer fake job opportunities, requiring victims to pay upfront fees for training or equipment.
- Bulk SMS Modus Operandi : Scammers send bulk SMS messages impersonating banks or financial institutions, asking recipients to click on links and provide sensitive information.
- Lottery and Prize Scams : Bulk SMS messages inform recipients they've won a lottery or prize, but to claim it, they must pay fees or provide personal information.
Safeguarding measures:
- Exercise due diligence before investing in any such high commission paying online schemes sponsored over internet.
- If an unknown person contacts you over any social media platform, refrain from performing financial transactions without verification.
- Verify the name of the receiver mentioned in UPI app. If receiver is any random person, it could be a mule account and scheme may be fraudulent. Check the source of the initial commission received.
- Refrain from doing transactions with unknown accounts as they may be involved in money laundering and can invite legal action.
- Double-check the legitimacy of investment opportunities, job offers, or messages from unknown sources before taking any action.
- When dealing with sensitive information or financial transactions, ensure you're using secure and verified platforms.
- Utilize two-factor authentication and regularly update passwords to enhance the security of your online accounts.
- If you encounter fraudulent advertisements, messages, or scams, report them to National Crime Reporting Portal (www.cybercrime.gov.in) or dial 1930.
