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We face two types of deceit: Social engineering fraud and fake profiles on social media. These scams trick people using clever tactics. Social engineering fraud manipulates trust, while fake profiles create false identities. Both aim to steal information or cause financial harm.

Let’s learn more about these scams and how to stay safe online. By understanding their tricks, we can protect ourselves and others from falling victim to these scams.

Social Engineering Fraud

Social engineering fraud is a growing problem where scammers trick people into doing financial transactions like purchasing goods/services which may never get delivered, paying for fake services, offering deals or even to get sensitive information which they can exploit later. They often use fake websites and social media platforms like Instagram, Facebook, and WhatsApp to deceive their victims. 

Modus Operandi:

• Deceptive Online Offers: Fraudsters set up enticing offers on social media or fake websites, luring victims with unbelievably low prices for high-end products. For example, an Instagram page may claim to sell the latest iPhone at a fraction of its actual cost. Eager customers place orders and make payments, only to realize they’ve been conned when the promised product never arrives.
• Fake Online Marketplaces: Fraudsters also utilize popular online marketplaces like OLX to post fake product listings. These listings often feature in-demand items at attractive prices. Once an unsuspecting buyer contacts the fraudster and makes an advance payment, the fraudster disappears, leaving the victim with no recourse.

EXAMPLE: 

“? Exclusive Offer Alert ?

Hello [Your Name]! You’ve been selected as one of our lucky customers to receive a special VIP discount. Enjoy a 90% discount on your next purchase by clicking the link below:

[Phishing Link]

Hurry, this offer is only valid for the next 24 hours! Don’t miss out on incredible savings! ?️”

Prevention Tips:

• Verification: Always verify the authenticity of online offers, especially when they seem too good to be true. Cross-check with official sources or trusted reviews.
• Payment caution: Never make advance payments to unknown individuals or entities without confirming their legitimacy. Use secure payment methods that offer buyer protection.
• Stay informed: Keep up with the latest scams and fraud tactics, and share this knowledge with family and friends to help protect them from similar pitfalls

How to Report Social Engineering Frauds?

• Local Police: If you’ve been a victim of a social engineering fraud, the first step is to report it to your local police station. They can initiate an investigation and take appropriate action.
• Cyber Crime Cell: A significant number of cities in India have dedicated cybercrime cells. You can contact your local cybercrime cell to report online frauds and scams. They have the expertise to handle such cases.
• National Cyber Crime Reporting Portal (NCCRP): The Indian government has established the NCCRP, where you can report cybercrimes, including social engineering frauds, online. Visit the NCCRP website (https://cybercrime.gov.in/) or dial 1930 to file your complaint.
• Reserve Bank of India (RBI): If the fraud involves financial transactions or banking services, you can report it to the RBI through their website(https://cms.rbi.org.in/).
• Telecom Regulatory Authority of India (TRAI): For scams involving phone calls or text messages, you can report them to TRAI through their website or helpline.
• Internet service providers : If the fraud occurred via email or a website hosted by an Indian ISP, you can report it to the relevant ISP.
• Consumer Forums: You can also approach consumer forums or organizations like the Consumer Education and Research Centre (CERC) to report frauds.
• Stay informed: Share your experience with friends and family to raise awareness and prevent others from falling victim to similar scams.

Fake Profiles on Social Media

Fake profiles on social media platforms refer to accounts created with fictitious or misleading information, often impersonating real individuals or entities. These deceptive profiles can be used for various purposes, including fraud, spreading misinformation, or gaining unauthorized access to personal information.

Modus Operandi:

• Impersonation: Perpetrators may impersonate well-known individuals or brands, such as celebrities, public figures, or companies like Paytm Payments Bank. By using the name and image of a trusted entity, they lure unsuspecting users into engaging with the fake profile.
• False information: Fake profiles often provide false details about the person or organization they impersonate. This information may include contact details, website links, or fake customer service numbers.
• Phishing: Scammers use these profiles to initiate conversations with users, usually through private messages, where they may request sensitive information like login credentials, bank account details, or personal identification.
• Spreading misinformation: Some fake profiles aim to spread false information or engage in malicious activities, such as promoting scams, fake offers, or propagating hoaxes.

Prevention Tips:

• Verify Profiles: Before engaging with any profile, especially those claiming to represent well-known entities like Paytm Payments Bank, verify their authenticity. Check for the blue verification badge that authenticates official accounts.
• Protect Personal Information: Never share sensitive personal information, such as your bank details or passwords, with anyone over social media. Legitimate organizations won’t request such information via these platforms.

How to Report Fake Profile Scams on Social Media?

• Block and Report the Fake Profile: First and foremost, block the fake profile to prevent further contact. Report the fake profile to the social media platform. Each platform has a reporting mechanism to flag suspicious or fraudulent accounts. Follow the platform’s guidelines to report the fake profile.
• Document evidence: Take screenshots of any interactions, messages, or posts with the fake profile. This evidence may be useful for law enforcement or the platform’s investigation.
• Change your privacy settings: Review and adjust your social media privacy settings to limit the information visible to others. Ensure your posts are only visible to friends or approved contacts.
• Notify friends and contacts: Inform your friends and contacts about the fake profile to prevent them from falling victim as well.
• Check for unauthorized activity: If you shared personal or financial information, monitor your accounts for any unauthorized activity. Report any suspicious transactions to your bank or financial institution.
• Report to law enforcement: If the scam involved financial fraud, harassment, or threats, consider reporting the incident to your local police or cybercrime cell. Provide them with the evidence you’ve collected.
• Report to the Anti-Cybercrime Cell: You can report cybercrimes to the local cybercrime cell or use the National Cyber Crime Reporting Portal (NCCRP) for online reporting.
• Notify the social media platform about unauthorized access: If you believe your account was compromised or unauthorized access occurred due to the scam, contact the social media platform’s support team to regain control of your account.
• Consider legal action: Consult with a legal expert to explore potential legal actions if the scam caused significant harm or financial loss.
• Educate yourself and others: Share your experience with friends and family to raise awareness about the dangers of fake profiles and online scams.

Conclusion

To sum it up, we’ve explored two common online frauds: Social Engineering Fraud and Fake Profiles on Social Media. These scams manipulate trust and create fake identities to steal information or cause harm.

Staying safe online involves verifying offers, avoiding advance payments to unknown sources, and sharing knowledge about scams. If you’re a victim, report the incident to the authorities. Being cautious online is your best defense against these schemes.

FAQs

Q: What is Social Engineering Fraud? 

A: Social Engineering Fraud is a deceptive practice where scammers manipulate individuals into revealing sensitive information or performing actions that can compromise their security, often through psychological manipulation and fraudulent online offers.

Q: What should I do if I’ve been a victim of Social Engineering Fraud? 

A: If you’ve fallen victim to Social Engineering Fraud, report the incident to your local police, cybercrime cell using https://cybercrime.gov.in/, or relevant authorities. Also, share your experience with friends and family to raise awareness.

Q: How to report a fraudulent transaction to Paytm Payments Bank? 

A: To lodge a complaint regarding any fraudulent transaction on your Bank Account or Wallet, kindly reach out to Paytm Payments Bank via IVR Helpdesk 1800 120 130 or tap on “Help & Support” section on the Paytm App and register your complaint under “Report a Fraud” category.

Q: How to identify Fake Social Media Profile? 

A: Whenever interacting or engaging with any Brand Social Media profile, like Paytm Payments Bank, please do verify the authenticity using the blue verification badge that authenticates official accounts.

Paytm Payments Bank never asks for any sensitive personal information, such as your bank details or passwords.