Stolen By A Fake App, Digital Arrest Threat Or $5 Million Job? 5 Online Frauds You Must Know

Scammers often use phrases like "share your OTP" or "verify your banking info" to trick people, especially those unfamiliar with internet banking. But even tech-savvy users can sometimes fall victim. In FY 2024, cyber fraud in India rose more than fourfold, costing over $20 million and posing a serious public safety threat. With fraudsters constantly evolving their tactics, including impersonating authorities, staying informed is the best defence.

To tackle the surge, banks are boosting customer awareness through targeted emails on scam tactics, emphasising vigilance as your top defence. So, here's a rundown of key frauds to watch, and how to stay protected:

1. APK Fraud  

Fraudsters send SMS or WhatsApp links to fake apps (.APK files). Once installed, the app hijacks your phone screen, steals OTPs, and gains access to banking and personal data.

Stay Safe: Only download apps from the official Play Store or App Store.  

Never: Click on app links sent by unknown contacts.

2. Investment Fraud  

Scammers promise huge returns on fake trading platforms or investment websites, building trust with fabricated testimonials.

Stay Safe: Use only SEBI-registered platforms for investing.  

Never: Fall for offers that sound too good to be true.

3. Digital Arrest Fraud  

Fraudsters impersonate police or government officials, claiming you're under "digital arrest" unless you transfer money or share personal data. Note: There is no such thing as a "digital arrest" under Indian law.

Stay Safe: Hang up if someone pressures you into transferring money.  

Never: Share your bank or Aadhaar details with unknown callers.

4. Job Offer Fraud

You get a tempting job offer, are made to pay "fees" or give bank details up front, then the job disappears.  

Stay Safe: Verify the company's credentials before engaging.  

Never: Pay money to get a job or share your banking info.

5. Parcel Delivery Fraud  

You're told there's a parcel with illegal contents landing in your name, and you must pay to clear it. The courier company never existed.  

Stay Safe: Contact the courier company via its official website or phone number.  

Never: Panic and pay a caller claiming to "save" your parcel.

Final Tip: If you feel targeted by any of the above frauds, immediately:-

• Contact your bank to block payments.  
• Call the toll-free cybercrime helpline at 1930 or visit the National Cyber Crime Portal.