August 17, 2022

In the view of rising financial frauds where cyber criminals have been using innovative methods to defraud gullible individuals and newbies, the Reserve Bank of India (RBI) released a 40 page booklet listing out all the ways scammers can steal your financial credentials and empty your bank accounts.

This booklet titled ‘BE(A)WARE’ emphasizes the need to keep one’s personal information safe,  practicing due diligence while performing financial transactions. Here are all the popular ways RBI lists that scammers use frequently to steal your sensitive data.

Malicious links

Pushing out a malicious link is one of the most simple method to scam an unsolicited individual. According to RBI, fraudsters might create a fake website which looks like an existing genuine website, such as bank’s website or e-commerce website or search engine, etc. These links are then circulated by fraudsters through text messages or via social media, etc.

Malicious links are masked through authentic looking names of websites, but in reality, the customer gets redirected to phishing website. When customers enter secure credentials on these websites, the same is captured and used by the fraudsters

It should be noted that most of the time, customers enter secure credentials by just having a glance and clicking at the link but not checking the detailed URL.

On e-commerce platforms, fraudsters might pretend to be buyers and show interest in your product. This is a very classic technique of …

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