We all like to believe that the internet is a secure place, yet we all know that humans may become easy targets, and there is nothing we can do to prevent this. The use of internet services and software to take advantage of people is referred to as online fraud. It encompasses a wide range of cybercrime operations, including identity theft, phishing, and various hacking activities. China’s Ministry of Public Security has published a list of the top five internet fraud sources. They are as follows-
- Brushing
- False Investment
- Money Management
- Dodgy loan scheme
- Impersonation of customer service
The list has been topped by ‘brushing,’ a sort of e-commerce fraud. It entices the victim to make payments for items or shipments that were never delivered or were only supplied if consumers completed particular online duties such as creating an e-commerce profile or downloading malicious software. Buyers may also be requested to pay a higher price for items. E-commerce companies use the ‘Brushing’ approach to ship tiny things that victims did not purchase. This strategy is also used by vendors to post favorable product reviews in order to enhance exposure on e-commerce sites.
False investing and money management are next on the list. Scammers employ fraudulent investments that promise great rates of return with no risk. This sort of deception is quite similar to pyramid schemes. The final two prevalent internet frauds in China are shady lending schemes and the impersonation of customer care representatives. Following a month-long anti-fraud effort, China’s Ministry of Public Security has cautioned residents not to fall for these internet frauds.
How popular are these scams in India?
India has seen a remarkable increase in cybercrime in recent years. In India, online fraud schemes and phishing scams have grown common. Telangana has the greatest number of internet banking fraud offenses in 2020. In all, India logged 50,035 cybercrime and fraud incidents in 2020, representing an 11.8 percent increase over 2019.
A substantial percentage of instances involved online banking fraud, OTP fraud, credit/debit card fraud, and ATM-related fraud. Keeping figures in mind, we may deduce that India continues to suffer from online banking fraud awareness. Furthermore, widespread public awareness and efforts might aid in the prevention of online fraud in India.
Aside from these, hackers employ a wide range of tactics, including phishing and spoofing, data breach, denial of service, malware, ransomware, and many more. If you believe you have been defrauded, reset all of your passwords and remove any suspicious applications. If you notice unauthorized credit card transactions, contact the credit card provider once away to avoid additional damage. Following these basic procedures will protect you from online fraud.
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