Digitalization has completely transformed the way we socialize ourselves in India. Digitalization grows deeper leading to the rapid rise of online scams. Online scams target individuals and companies resulting in money and emotional loss.
- Over 740,000 complaints of cybercrime were reported to the Indian Cyber Crime Coordination Centre (I4C) in the first few months of 2024
- Indians lost over Rs 11,000 crore to cyber frauds in the first six months of 2024. On average, victims reported losses amounting to Rs 60 crore every day
This blog explores the online scams in India, their impact, and how to protect yourself.
Types of Online Scams in India:
Phishing Attacks:
Online scammers send Phishing emails, texts with links seeming to be legit senders. Clicking phishing links redirects user to bogus websites. Users input personal details like passwords, credit card numbers, or OTP on the bogus site.
Job Scams:
Online scammers lure unemployed people by providing fake employment opportunities. Online scammers request a registration fee or deposit in turn for the job. Cyber victims realize the scam only by then, but its too late!
Online Shopping Fraud:
Fake e-commerce sites trick users to pay for bogus items that never get shipped.
Social Media Scams:
Online scammers set up fake profiles with fake friends to trap the victim and build a form of trust. Online Scammers lure victims for information, money, or clicking on a malicious URL.
Lottery and Gift Scams:
“Congratulations! You’ve won a prize!” Such messages make users ‘happy’. Online scammers ask for ‘processing fees’ to claim their so-called ‘reward’.
Dating and Matrimonial Scams:
Matrimonial and online dating services are targets of online scammers. Online scammers create fake profiles and gain trust asking money claiming urgency.
Why are Online Scams increasing in India?
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Rapid Digitization. Every day, new users join the web, and most do not know anything about the vulnerabilities of the Internet.
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Inadequate Regulation. India has the Information Technology Act. But enforcement is challenging due to many cases involved.
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Sophisticated Scamming Techniques. Online scammers find new ways to trick users using AI.
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Lack of Cyber Hygiene. Users:
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use the same password to many accounts;
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open links received from strangers; and
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do not activate 2FA.
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Impact of Online Scams:
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Financial Loss
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Emotional Distress
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Reputation Damage
How to Protect Yourself from Online Scams?
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Stay Informed
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Verify Before Trusting
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Avoid Clicking on Suspicious Links
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Shop on Trusted Platforms
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Report Suspicious Activity
Conclusion
Digitalization unlocks countless opportunities, but also has risks demanding vigilance and responsibility. Organizations and individuals must embrace best cybersecurity practices against online scams. The small steps you take today can prevent significant trouble tomorrow. Stay cautious, stay safe, and take charge of your digital security!
Organizations must invest in Cybersecurity Awareness sessions for their employees. Secure Network Solutions (SNS) provides Cybersecurity Awareness Workshops to corporates in India. To know more, send us your inquiry directly to [email protected]
Author
NK Mehta
