Have you ever received a phone call from a ‘supposed’ bank representative asking you to share confidential information? This could be anything from your ATM PIN, bank account details, or even your login password. If yes, then it is likely that you were contacted by a phone scammer.
Recently, scammers have stepped up by using mobile numbers that look similar to common toll-free numbers of banks, government institutions, customer support centres, or financial firms to extract information from users. However, it is important to note that banks or governmental firms will never contact you asking to share your personal information or transfer money.
The Reserve Bank of India (RBI) recently issued a warning against the unauthorized use of look-alike mobile numbers, after a rise in these new fraud cases. These mobile numbers have digits that are similar to toll-free numbers and are registered with caller identification platforms like True Caller with names that appear like official entities (Eg.DMI Official). This makes users believe that they are getting a call from an authorized number.
If you happen to attend such calls, scammers will use this window of opportunity to get you to trust that they are a bank executive or customer representative, depending on which entity they are claiming to be associated with, and ask you for confidential information like account passwords, your card or CVV number. They could even try to convince you to download a third-party app on your mobile phone which could potentially give them direct access to your data.
So how can you be safe from this?
Well, here are some tips that can help you avoid such impostor scams:
Always check the company’s official website
Look out for a verified point of contact using the company’s official website only. Scammers can use look-alike numbers pretending to be representatives who need to verify your account and ask you for confidential data. Beware of such calls by confirming the company’s contact number on the official website. (Eg. DMI Finance official customer care number is 08064807777)
Do not blindly trust your caller ID
There are many caller identification applications in the market today that claim to accurately reflect the caller’s name. While there are several trusted popular apps in the country, scammers use them to their advantage by changing their name to that of an official institution. This is called spoofing. While it may look like a genuine toll-free number, it could very well be a scam call.
Do not rush your decision
Scammers will often ask you to transfer money in a way that is hard to trace back. Firstly, it is best to not make any payments based on a phone call. It is always wise to ask for a written notification or receipt with payment details. Financial institutions such as DMI Finance always notify users through verified sources like your registered email ID to connect regarding any financial matters. Also, note that no financial institution will ask you to pay without a verified prior context. So steer clear of making any hasty payment decisions.
Use the ‘Block’ feature
If you think you have been contacted by a scammer and are unsure about how to proceed, you can always use the call blocking feature on your phone or verification app and block the number. This will ensure that you stop getting calls from the impostor from that specific number. If you suspect that a certain number could perhaps be a scam, the best thing you can do is to report the number immediately. You could also inform the actual institution in question about such fraudulent activities being carried out in their name.
Be alert and stay safe!
