What is digital fraud?

Digital Fraud

Hello Guys, if you were a victim of digital fraud or really want to understand what is Digital fraud and how it should be done then here I prepared the document which will clear the basic understanding. Let's start with a definition. 

Definition 

Digital fraud is a type of fraud or deception which makes use of the Internet and could involve hiding of information or providing incorrect information for the purpose of tricking victims out of money, property, and inheritance.

How it works?

Digital fraud is not done by a single person, it is done in a group.
Let's understand some examples.

1.Telegram 

• First, they create a group in the telegram application.

•  After that, they buy members from the market and add them to that group.

• Now they post some attractive scheme in the group like shown in below photo👇👇

• And also give some screenshots of one of the products to prove that they are genuine. 

• So some members of that group think that they don't lie, and they fall into a trap. And buy products from them. 

• But the condition of the seller is to give some percent of price after that they will place the order. And they accept payment via Paytm/Paypal/google pay.

• So who interested in this trap he/she send some money by Paytm/Paypal/google pay.

• After that admin of the group gives the fake screenshot of the 'placing order is successful' and also gives order id.

• After that, they blocked him/her. And he/she waits for a product but he/she doesn't know that the product is will not arrive.

• In this scenario, they used fake Paytm/Paypal/google pay accounts, so if we complained against them then we can not reach them.

This is not only one method that they used to cheat. They have many methods to cheat. 
The second method is... 

You are attracted to this type of trap and pay them to get more money back.
They will block you after receiving money from your side.

2.PAYTM

• In this example, they become a fake Paytm customer care agent. 

• Hi, I’m calling from Paytm. We have launched a KYC drive across India. Doing KYC would mean you can accept up to Rs. 1 lakh in your Paytm Wallet. However, I would need some proof of identification and your credit/debit card details or bank details .”

• If you agree with them they send a link to your mobile number and ask you to fill in all the details in the form.

• When you open this link it looks like the Paytm website but it's fake. 

• When you entered all the details which mandatory they will ask to make a transaction to verify your bank account and demand to give OTP from your side. 

• If you give them OTP then you became a victim of the trap which was made by them.

3.Credit/debit card 

• In this type of fraud they call you and start conversations with: "Hi, I’m calling from Your bank. Now your bank account is eligible for home(any other category )loan.  However, I would need any  proof of identification and your credit/debit card details."

• When you give them your credit/debit card details, and also OTP. 

• after that, you will receive a debit message from your bank account.

• Now your bank account is empty. 

• So, aware of these types of fraud.

Do's

• When you receive any call or message like this then don't panic and behave like you don't know that person is a fraud. 

•  If it is possible to connect police in the same line then do it. 

•  When call ends immediately call the police or cyber crime office and complain against them. 

Don't 

• When you receive these types of calls don't give them any information about banks or cards. 

•  Don't fill up your confidential information on an unknown website or application.

•  Don't give OTP any person.

There are many examples of digital fraud but I covered only three examples of digital fraud.
I hope now you aware of this type of fraud and you can handle this type of situation easily.