Online scams are increasingly concerning putting anyone at risk of becoming the next target.  Over the past few years, financial fraud has spiked with trading scams alone costing individuals  over crores of rupees. Recovering lost funds is often challenging with law enforcement able to  assist in fewer than 10% of cases. Many victims hesitate to report these incidents due to  embarrassment, while in other cases, the lure of schemes promising quick wealth tempts  individuals into risky investments.

In the last few years, many individuals and groups have  encountered some form of financial fraud—whether through UPI, credit cards, or other  investment schemes. Scammers continuously refine their methods making it increasingly  difficult to identify and avoid these traps. Unlike many traditional crimes, online scams can not  only threaten your finances but also damage your reputation and disrupt your peace of mind.  Today’s fraudsters leverage advanced technology, including AI, to deceive people, affecting  individuals across all demographics, from high-ranking officials to students.

Among the most common online scams are UPI fraud, sextortion, WhatsApp scams, AI voice  cloning, link-based scams, OTP fraud, and deceptive investment schemes. While the  government recognizes this as a serious issue its efforts require public support to be truly  effective.

Firstly, if you fall victim to cybercrime report it promptly as early action can increase  your chances of recovery. However, statistics show that 90% of victims do not recover their  money, underscoring the importance of staying vigilant. Secondly, exercise caution with digital  transactions involving unknown parties, refrain from forwarding unverified messages, avoid  clicking suspicious links, and be wary of unknown calls.

Staying informed is crucial; as  fraudsters develop new techniques, our alertness must adapt in response. Finally, by spreading  awareness among friends and family, we can protect not only our finances but also our  reputation and peace of mind. Stay informed, stay vigilant, and stay safe.

Thsachoba TS 

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