Financial Fraud
Financial fraud is the most common type of cybercrime in India, accounting for 65% of all reported cases. Learn to identify, prevent, and respond to various forms of financial fraud targeting your money and assets.
Of all cybercrimes
Lost in 2024
Cases reported
Types of Financial Fraud
UPI Fraud
Fraudulent UPI transactions and payment app scams
Examples
- Fake UPI payment requests
- QR code manipulation
- Payment gateway phishing
- Fake merchant transactions
Prevention
- Verify recipient details before payment
- Never scan unknown QR codes
- Use official payment apps only
- Enable transaction notifications
Credit Card Fraud
Unauthorized credit card usage and cloning
Examples
- Card skimming at ATMs
- Online card number theft
- Fake card applications
- Card cloning and duplication
Prevention
- Monitor card statements regularly
- Use chip-enabled cards
- Avoid sharing card details
- Enable SMS alerts for transactions
Investment Scams
Fake investment schemes and cryptocurrency fraud
Examples
- Ponzi schemes
- Fake cryptocurrency investments
- Stock market manipulation
- Real estate fraud
Prevention
- Research before investing
- Verify SEBI registration
- Avoid guaranteed returns
- Consult financial advisors
Banking Fraud
Bank account takeover and unauthorized transactions
Examples
- Account takeover attacks
- Fake loan offers
- Banking phishing emails
- ATM fraud and skimming
Prevention
- Use strong banking passwords
- Enable two-factor authentication
- Never share banking details
- Report suspicious activities immediately
Red Flags: Warning Signs of Financial Fraud
Be alert to these common warning signs that indicate you might be targeted by financial fraudsters.
Unsolicited calls asking for OTP or PIN
Pressure to act quickly on investment offers
Requests for upfront payments or fees
Promises of guaranteed high returns
Requests to share banking credentials
Suspicious payment links or QR codes
What to Do If You're a Victim
Stop All Transactions
Immediately stop any ongoing transactions and contact your bank
Change Credentials
Change all passwords, PINs, and security questions
Document Evidence
Save screenshots, emails, and transaction details
Report to Authorities
File complaint at cybercrime.gov.in and inform your bank
Report Financial Fraud Immediately
Time is critical when dealing with financial fraud. Report the incident immediately to minimize losses and increase chances of recovery.
Learn More About Financial Security
Stay informed about the latest financial fraud trends and protection strategies to safeguard your assets.