Page 23 - Seniors Today -April20

target of following these scammers. The
scammers create fake profiles on legitimate
dating websites, and once you come to their
terms, they try to enter into a relationship
with you so they can get a hold of your
money and personal details. Gradually
the scammer develops a strong rapport
with you then ask for money to help cover
costs associated with illness, injury, travel
or a family crisis. Like a drip-feed, it just
doesn’t stop here, slowly the scammer start
exploiting your emotions as well!
This is often seen as a slow-burning
sting, with gullible victims groomed by a
succession of texts and e-mails after contact
is first made on social media or a dating site.
Some are so ashamed to have fallen for these
scams that they go unreported! When socialising online, you cannot be sure who the person at the
Tip: Never share personal credentials with other end really is, so err on the side of caution
any unknown identity over the web; it has a on your card. There is every possibility that
massive potential of getting misused! the scammer had installed a credit card
skimmer to steal your account information.
5 Credit Card fraud D. Sometimes it could just be a breach
Credit card fraud isn’t rare; it happens when of information from a retail store or a
a fraudster uses your stolen credit card to restaurant, and for no fault of yours, your
make purchases in your name. Though credit card information was compromised.
Indian financial institutions have developed Tip: Do regular checks on your credit and
multilayer security protocol and a secured debit card transactions. Inspect what you
validation process, still one has to be extra expect!
careful about the transactions taking place
in your account. Here are a few examples 6 Identity theft
of how a credit card transaction could take This category of Fraud is all about stringing
place: the facts together about a victim from
A. Someone found your discarded receipts various sources. The fraudsters might
or credit card statements that included your get their hands-on things like financial
account number and used that information statements, bank statements, Aadhaar
to rack up fraudulent charges. number or your PAN details. To prevent
B. You were dining out last night, and an identity theft, make sure you keep your
unscrupulous waiter stole your card number reports and sensitive information secure.
and used it to his benefit. Tip: If you have physical copies of any
C. You went to a gas station to fill gas, you identities, keep them locked in filing
swiped your card, and later you realised cabinets that only you can access. For digital
some fraudulent purchases have been made copies, make sure you use complicated

SENIORS TODAY | ISSUE #10 | APRIL 2020 23