“Subcategories include debit/credit card fraud, business email compromise, internet banking-related fraud, and the alarmingly prevalent UPI (Unified Payments Interface) fraud (47.25 per cent)”.
“as technology continues to advance, so do the tactics of cybercriminals, making it essential for all stakeholders to stay informed and vigilant”.
Technology advances… We benefit and we also lose. 
Cyberdost has shared a video and asked people to report such scams by dialling 1930 to report such online fraud.
A 31-year-old man was arrested for allegedly duping shopkeepers on the pretext of getting their rental charges on UPI transaction soundbox waived off, police said on Saturday
AI Deepfakes Scam,
much like the ones we’ve previously discussed concerning AI-powered WhatsApp video calls in earlier posts.
This article nicely explains the stages of these kinds of scams.
Let’s unravel the intricacies of the elaborate scam that befell the assistant professor, exposing the crafty modus operandi utilized by the fraudsters.
The culprits made their move by reaching out to the victim via an enticing text message, dangling the promise of a part-time job with a prominent online retail platform. This initial contact aimed to draw the victim into their deceitful web.
Once the victim showed interest, the fraudsters escalated their ploy by engaging him over the phone. They guided him to create an account, requesting a small payment of Rs 1,000 for account recharge. To gain trust, they even added Rs 1,300 to the victim’s bank account, creating a facade of credibility.
Continuing the charade, the criminals transferred minor amounts to the victim’s account, coupled with online tasks. These transactions were intended to build confidence and legitimize the entire scam.
With the victim’s trust secured, the criminals enticed him further by proposing investments in these tasks, promising lucrative returns. The victim, enticed by the illusion of substantial gains, transferred a significant sum totaling Rs 20.6 lakh, falling deeper into the trap.
To intensify the scam, the fraudsters fabricated a tale of the victim’s account being damaged due to alleged delays in task completion. This ploy was used to demand more funds for account ‘repairs,’ prompting additional money transfers.
In the end, the victim’s trust was shattered as the criminals persisted in their money demands. The assistant professor finally recognized the deception, facing a substantial financial loss. This incident serves as a cautionary tale, emphasizing the need for vigilance and verification before engaging in enticing online opportunities.
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:
@Priyansh_Gaur Makes me happy to know that you outsmarted them and profited Rs.150. Great!
I did not want to give them any hope!
Yes of course. Better safe than sorry. I would have done the same. Cautious people we are… 
It’s always good to scam the scammers 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 
)
My account is alright till now.
Yes this can be true but what if someone closes their account before they can freeze it
"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. 
