Cyber Security: Financial Fraud

You work hard for money. Scammers work hard to steal it. In the digital age, your password is as important as your wallet.

Common Financial Scams in India

1. The "QR Code" Scam (OLX/Facebook)

• Scenario: You are selling a sofa on OLX. Buyer calls: "I will send money via QR code."
• Trick: He sends a QR code. It says "Pay ₹5000". He says "Scan this to RECEIVE money."
• Fact: You NEVER need to scan a QR code or enter PIN to RECEIVE money.
• Result: You scan, enter PIN, and money gets deducted from YOUR account.

2. The "KYC Update" Scam

• Scenario: SMS: "Your SBI Account will be blocked. Click link to update KYC."
• Trick: Link opens a fake SBI website. You enter Username/Password/OTP.
• Result: Hacker logs in and empties your account.

3. The "Remote Access" Scam

• Scenario: "Sir, I am calling from Amazon. Refund is pending. Install AnyDesk/TeamViewer."
• Trick: You install the app. They see your screen. You open banking app. They see your password/OTP.
• Result: Account drained.

4. The "Part-Time Job" Scam (Telegram/WhatsApp)

• Scenario: "Earn ₹5000/day by liking YouTube videos."
• Trick: They pay you small amounts initially (₹100, ₹500) to build trust. Then ask you to "invest" ₹50,000 for a "VIP Task."
• Result: You pay ₹50,000. They block you.

How to Protect Yourself

1. The Golden Rule of UPI

PIN is ONLY for SENDING money. If someone asks for PIN to "receive" money, it is 100% a scam.

2. Two-Factor Authentication (2FA)

Enable 2FA on Gmail, Facebook, and Banking apps. Even if they have your password, they can't login without OTP/Authenticator code.

3. Don't Click Links

Never click links in SMS/Email for "KYC", "Refund", or "Lottery". Go to the official app/website manually.

4. Use a Credit Card for Online Shopping

If you get scammed on a Debit Card, money is gone from your bank. If you get scammed on a Credit Card, you can dispute the transaction and refuse to pay. Bank fights for you.

What to Do If You Get Scammed?

1. Call 1930 (National Cyber Crime Helpline) immediately.
   • If reported within "Golden Hour" (1-2 hours), money can be frozen.
2. Block Cards/Account: Call your bank.
3. File Complaint: cybercrime.gov.in.

7-Day Action Plan

Day 1: Check your email (haveibeenpwned.com) to see if your password was leaked.
Day 2: Change passwords for Bank and Email. Make them strong (e.g., "Tr0ub4dor&3").
Day 3: Enable 2FA (Two Factor Auth) on Google and WhatsApp.
Day 4: Lower the daily transaction limits on your Netbanking/UPI app. (Don't keep it ₹1 Lakh if you only spend ₹500).
Day 5: Educate your parents about the "QR Code" and "KYC" scams. They are vulnerable targets.
Day 6: Install a good antivirus on your laptop.
Day 7: Save "1930" in your contacts as "Cyber Police".

Quiz

💡 Final Wisdom: Paranoia is a virtue in cyber security. Trust no one. Verify everything.