The Latest Financial Frauds and Scams to Watch Out For

beo i got a similiar one they asked me to rate a hotel and they gave me 150rs then next task was to send them 1000rs and they will return it in 10min and give u 1300rs back and 300rs was ur profit I blocked them at this point taking away their 150rs​:joy::joy:


@Priyansh_Gaur Makes me happy to know that you outsmarted them and profited Rs.150. Great!

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I did not want to give them any hope! :joy:

Yes of course. Better safe than sorry. I would have done the same. Cautious people we are… :wink:

It’s always good to scam the scammers :joy::joy: but be safe


I have came across many posts of similar scams , where many outsmart scammers to obtain money from them. However, we should always remember that one post by @specter. Could what he said be true? Is there a potential risk of our accounts getting frozen? (I too see no wrong in tricking those scammers :laughing: :laughing:)

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My account is alright till now.

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Yes this can be true but what if someone closes their account before they can freeze it :joy:

"Five Tips To Protect Yourself Against AI-Enabled Scams

Fortify accounts: Multi-factor authentication (MFA) requires you to enter a password and an additional code to verify your identity. Enable MFA on all your financial accounts.

Be private: Scammers can use personal information available on social media or online to better impersonate you.

Screen calls: Don’t answer calls from unfamiliar numbers, says Mike Steinbach, head of financial crimes and fraud prevention at Citi.

Create passphrases: Families can confirm it’s really their loved one by asking for a previously agreed upon word or phrase. Small businesses can adopt passcodes to approve corporate actions like wire transfers requested by executives. Watch out for messages from executives requesting gift card purchases–this is a common scam.

Throw them off: If you suspect something is off during a phone call, try asking a random question, like what’s the weather in whatever city they’re in, or something personal, advises Frank McKenna, a cofounder of fraud-prevention company PointPredictive."

"How do banks protect your money from frauds?

Banks also have a risk monitoring cell that alerts a customer when they detect any suspicious or fraudulent transactions.

“Banks have deployed monitoring tools to track anomalous transactions in the customer account. Accordingly, various monitoring rules have been defined by the bank and configured. The generated alerts are being continuously monitored by the analysts. Banks also report the details of unauthorized transactions to the National Payment Corporation of India (NPCI) for further action,” says Biju K of Federal Bank."

"The fraud was taking place since long and came to light following a complaint lodged with Srinagar police station in Maharashtra’s Thane city of hacking of the payment gateway account of the company in Thane in April 2023 and ₹25 crore being siphoned off, an official from Naupada police station said.

When the police conducted a probe into it, a mega fraud worth over ₹16,180 crore came to light, the official said quoting the FIR."

Guess even the payment gateways are not spared. :thinking:


“Sharing the details on social media, Maran said ₹99,999 was “stolen” from his Axis Bank personal savings account through a net banking transfer via “IDFC First Bank-Billdesk". The transaction, which was not initiated by him, bypassed “all normal safety protocols", he added.

An OTP, the standard protocol for such transactions, was neither generated nor received on the mobile number linked to the bank account, Maran stated in a post on X, formerly known as Twitter.

“Instead, a call was made to the account’s joint holder - my wife’s number and the fraudsters had the gall to ask if the transaction had taken place. They pretended to be from the bank but had @cbic_india on their display picture. This confirmed my suspicions and I immediately proceeded to block all activities on my account (sic)," he added."

““Axis Bank was clueless as to how the attack had happened nor could they give any solid explanation for why the OTP was not required from my number for the transaction to take place,” Maran added.”


Ritesh Bhatia, a cybercrime investigator and cybersecurity consultant, warns that biometrics linked to Aadhaar cards can be easily hacked and stolen. Criminals are using high-resolution cameras to capture fingerprints from various sources, such as property registrations and SIM card registrations, and selling them to other cybercriminals. With access to the Aadhaar number and bank details, these criminals can withdraw money using Aadhaar Enabled Payment System (AEPS) micro ATMs.”

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Solution - Always keep your biometrics locked. mAdhar (Aadhar application) has the option to lock/unlock biometrics.


I have locked my biometric. But it’s a bit of a hassle at times. There was this time when I wanted to get a SIM card. But I couldn’t get it as I was not getting the OTP for unlocking the biometric.

Also, let’s say you lost your mobile and want to get a replacement SIM. This is a deadlock. Without the SIM, you can’t get the SMS for unlocking. And without the biometrics, you won’t get the SIM.


Aadhaar data leak from Registration office. :face_with_open_eyes_and_hand_over_mouth:

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@alexnazy I understand, but what is the likelihood of such incidents compared to your safety? On the app, there are only two steps and a validation code to enter.

I have been following this since 2019 and believe me, it is very simple; you just need to develop muscle memory.


What I learned from my experience is that
Locking your Aadhaar biometrics is super easy and unlocking the same is a little bit hard sometimes.

Whenever we met a situation where it needs to unlocked (eg: PDS, KYC purpose) either the website or the app does not function (it becomes not reachable or get some error)


Relatable :smiling_face_with_tear:

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