Digital Arrest, AI Deepfake, QR Code And More: A Year Marred By Cyber Frauds For Indians

Every year, scammers devise new techniques to target unsuspecting victims, causing major financial losses. In 2024, cyber scams surged dramatically in India, with over Rs 21,300 crore lost to fraud in just the first half of the fiscal year, reported DNA India. These scams exploit trust and technology, leaving both the wealthy and vulnerable in distress. Stay vigilant and informed about the five most alarming scams that plagued India this year.

 

Interest in stock trading has skyrocketed, but so have scams. Fraudsters created fake platforms promising high returns, duping investors of Rs 4,636 crore in 2024. Over 2 lakh complaints highlighted how these fictitious apps and websites trapped victims with false promises of guaranteed profits.

 

Advancements in AI have fueled deepfake scams, where realistic images, videos, or audio are used to deceive victims. Fraudsters trick people into transferring money or sharing sensitive information, making it nearly impossible to distinguish between authentic and fraudulent content.

 

Scammers impersonating law enforcement officials conducted fake arrests online. Victims were blackmailed into paying large sums to avoid false charges. PM Modi has urged citizens to report such incidents immediately.

 

 The rise of digital payments has brought QR code fraud into the spotlight. Scammers create fake QR codes that lead users to malicious websites or unauthorized transactions. These scams prey on people’s trust in technology and convenience.

 

Fraudsters posed as telecom officials, claiming SIM cards would be deactivated due to KYC issues. Victims were tricked into sharing sensitive information or making payments to “reactivate” their numbers. TRAI has warned users to ignore such fraudulent messages and calls.

 

The surge in cyber scams highlights the importance of staying informed and vigilant. Always verify communication from unknown sources, refrain from sharing OTPs or sensitive details, and report suspicious activities to authorities. Protect yourself and your finances from these growing threats.