There’s a great need to stay away from fraud these days. Financial fraud becomes major problem in today’s digital age. Cheating people are using a variety of methods to grab people’s money. Let’s know what these frauds are and how they can be avoided.
There’s a great need to stay away from fraud these days. Financial fraud becomes major problem in today’s digital age. Cheating people are using a variety of methods to grab people’s money. Let’s know what these frauds are and how they can be avoided.
Many fraud cases coming up nowadays. Fraud has increased significantly since the Internet came in. There are many ways people are committing fraud these days such as investment fraud, online fraud, credit card fraud.
Financial fraud’s a crime where fraudsters grab people’s money by tricking them. This fraud can take many forms.
• Investment fraud: It involves fraudulent people telling people to invest money by falsely promising high returns and then making the money disappear.They tell people their investments are very safe and they’ll make great profits.
• Online fraud: This fraud happens via the internet it includes phishing, smishing, farming. Fraudsters in phishing create emails or websites by posing as trusted entities and asking people for their personal information such as passwords, credit card numbers, etc. Smishing cheaters contact people via SMS.Farming changes URL of a website and takes people to fake website.
• Credit card fraud: It involves people misusing credit card information by stealing it.
• Online fraud: Online fraud is fraud via the Internet. It’s deceitful people contacting people by email, social media or websites and trying to get money or personal information from them.
Take These Steps To Avoid Financial Fraud
1. Keep information confidential: don’t share your PIN, password, OTP with anyone. Don’t give your bank account information to an unknown person or entity. Don’t click suspicious emails or links to SMS.
2. Use secure websites: Website URL must contain “https://”. Use company website or app directly, avoid clicking links.
3. Create strong passwords; Use different passwords for every account. Create a strong password blending letters, numbers and special characters.
4. Check your accounts regularly: Check your bank statements regularly. Check your credit card bill. Notify your bank immediately if a transaction appears you haven’t.
5. Beware: Beware calls from unintentional numbers. Don’t believe the offer looks great.
6. Protect your device: Use antivirus software in your computer or mobile. Update your operating system and other software regularly.
What to do if you are a victim of fraud
Notify your bank immediately and get your account blocked. File an FIR with police. Notify credit bureaus if your credit card is affected.
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