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that the internet is a safe place where you
can’t fall for all types of online scams, but
it’s always good to do a “reality check”. We
can become an easy target for malicious
actors who want to steal our most valuable
personal data. Economic crime is appearing
to be one of the most problematic issues-both
in India and worldwide. Remember, the scale
of Economic crimes at the corporate level
and individual level is hugely different. With
Fraud gaining momentum and becoming a
global threat, it is increasingly catching the Don’t give cold callers the benefit of the doubt – trust no one
eyes of regulators. Given its scale and cross- Let me tell you, scammers are inventive
border implications, it is not surprising that and they keep coming up with new ways
enforcement of fraud is a global priority. to con people not just out of their money
Still, the silver lining is that the regulators but also play with their emotions. You can
are cooperating (inter-country) to prosecute safeguard yourself by being aware of the
fraud perpetrators. Through this brief most common scams in practice. Some of
article, I am attempting to share a few pieces them are easy to spot, while others are so
of the jigsaw puzzle that may help us in sneaky you may not even realise until you
understanding this complex web of scams are scammed. Remember one cardinal rule
and mitigate the risks associated with it. to stay protected, if it sounds too good to be
Data breaches are exposing the crucial true; it probably is a scam! Almost everyone
set of pieces of information to fraudsters. will be the target of fraud at some time. You
Once stolen, this information can be used in may have already been scammed. You can
facilitating fraudulent activities. As cyber dodge these scammers by being aware of the
criminals see more opportunities to have most common scams.
a windfall in these deals, they see every Let’s start with the type of scams prevailing
reason to stay invested! We are facing the in the world with some sophisticated
‘perfect storm’ of risk. Scams aren’t as rare engagement methods the cybercriminals
as you might think. You must know how adopt with the victims. Of course, this is not
to prevent and deal with Scams if they an exhaustive list, but yes, for sure, it would
come your way. Hence, we are simply NOT give you a good idea that we usually come
winning this game! Fraud is like a natural across in our everyday lives:
disaster: it is so intrinsic to the nature of the 1. Stealing your e-mail password: This is
individuals that are hard to anticipate by the most common way of taking data in the
definition. It happens to be one of the biggest cybercrime space. The fraudster customises
threats of all times that we face in today’s the idea to steal e-mail credentials that
fast-paced world. As the risk landscape is bypass any authentication security protocol
evolving almost on daily basis-the bad guys as it doesn’t rely on any easy-to-spot
(perpetrators) are trying to stay ahead of the phishing methods. Here’s what one needs to
curve and take full advantage of people’s know to stay ahead of the e-mail password-
ignorance and negligence. stealing Scam curve.
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