Have you come across instances of people losing their hard-earned money because they shared sensitive details like PAN/Aadhar Card numbers, bank OTPs or by just clicking on an email? If you have, then it is likely that you know about digital scams and how fraudsters trap unsuspecting individuals. We live in a digital age where online banking and cashless transactions have become very common which has also resulted in the rise of scams. As consumers, we need to be aware of the methods used by scamsters and be on our guard at all times.

Here are some tips to stay alert and avoid scams.

Beware of calls from unknown numbers: Calls from unknown numbers claiming to be from government agencies, insurance companies, banks, etc. should be verified by checking the relevant official website. Disconnect any calls asking for bank account or credit card information, or any other personal information even if they insist that they are going to deposit a tax refund, government subsidy, or a recovered debt into your account. Block the number to avoid repeat calls. In Recovery and refund scams, scammers usually get in touch with customers who may have previously lost money due to fraud by promising to either help them recover lost money or refund stolen money for a minimal fee from an unknown number. To know more about recovery and refund scams, click here.

Don’t open suspicious emails: Emails promising a prize/a bonanza from a lucky draw that asks you to click on a link are usually an attempt to get your financial data. If the email contains statements like “click on the link here to confirm we are genuine” or “you just have to send 100 INR processing fees to access this prize”, it is a definite red flag. The unsubscribe button on email is also a new trick by scammers. To know more about it and stay protected click here.

Don’t fall for unbelievable pay packages: Job scams are an easy way to dupe job seekers in need. Job offers with attractive salaries but vague job descriptions are a popular tool used to attract innocent job seekers. In India, those who seek jobs abroad are often given fake offer letters with a demand to pay money upfront as a security deposit or for securing a work visa, etc. No credible organization or recruiter will ask for security deposits, training charges, or registration fees from applicants for any position. It is always best to check the company’s website or LinkedIn page for current openings and apply directly. For instance, job openings at DMI Finance are posted on the careers page of our website. Click here to know more about job scams.

Public networks are not safe: A basic precaution for digital safety is to avoid logging into sensitive password-protected sites like your bank account when you are on a public wi-fi network, at the airport, the mall, or the station. Hackers can install any malware on your system when you are on unprotected public networks. Read more about public wi-fi networks here.

Double check authenticity of customer contact channels: When you need to register a complaint or request a service for a product/service you purchased from a company, go to their official website and get their customer care information instead of doing a Google search. Fake customer care number scam is a new way to steal your personal information and money. Fraudsters often modify contact numbers on Google so that fake helpline numbers pop up first. Verify customer care toll-free numbers of big brands and companies from their websites before calling to register a complaint. For eg., DMI Finance’s official customer care number is 08064807777.

While technology has allowed us to stay connected and perform a wide variety of financial transactions online, it has also made us vulnerable to cyberattacks by criminals and fraudsters. Following cyber safety measures consistently will ensure our financial security. As part of DMI Finance’s commitment to customer education on these safety measures, we have created DMI Finance Blogs on a wide variety of topics that cover everything you need to know about cyber frauds, types of online scams, digital security measures, and keeping your data safe in a digital world.

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