The Latest Financial Frauds and Scams to Watch Out For

“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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Sometimes I won’t receive OTP

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One solution which I am planning to follow in the future is to pre-plan the usage of biometrics.

So if I am planning to get a new SIM card, I need to activate the biometrics some hours before I go to the showroom.

But one major problem with me is that after I use the biometrics, I forget to relock it.

I guess mAadhaar app needs an auto lock feature, which would automatically lock the biometrics after say 1 day. So that no compromise happens because of bad memory.

You can find a feature on the website that allows you to temporarily enable your biometrics. I believe the system automatically locks it after 5 minutes.
I haven’t used their mAadhaar app in a while, so I’m uncertain about whether this feature is available on the app.

Saying again what I have said earlier “Never trust this site” :laughing: :grin:
I’m attaching the various error messages I received within a span of 5 minutes, while attempting to log in, as I wanted to capture a screenshot of that temporary unlocking feature.


Finally accessed the site :rocket: :rocket:

Here is the solution @alexnazy


You know nothing @alexnazy. :stuck_out_tongue_closed_eyes:

I just checked the mAadhaar app and the same is available. And it’s the default option. It is active for just 10 minutes.

My bad… The Aadhaar team has this feature in place already. I haven’t used the app for sometime. So it must have been implemented in that duration.

Thanks @razack for that website tip which led me to the mAadhaar app.

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One doesn’t loose their mobile/sim that often, but these scams can be very often. Always a good idea to keep biometrics locked!

Mobile number can be changed with aadhaar.

Also, I don’t think Aadhaar is mandatory for getting a sim. Especially for getting a duplicate sim!
You can use any of your IDs for that.

It happened with me a couple years back and I got the sim immediately without biometric.

My biometrics are locked since the day that feature was introduced.


The Airtel showrooms near me ask for the biometrics as that would activate the SIM sooner and I guess their work maybe less.

That might be their preference, but Aadhaar is not mandatory for getting a sim.

But in general, yes they do prefer aadhaar for sim.

Next time ask them to not use aadhaar.

I believe they are attempting a workaround by closing an old sim and generating a new one [Target Pressure - especially when competing with a multi-million dollar chest].

Because why should you request biometrics again if you already have them? It’s not in TRAI guideline.

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Interesting! So you mean to say Airtel could just give a duplicate SIM card without the biometrics?

But personally I like this detailed procedure because this would avoid fraud.

Not only Airtel but any provider can give duplicate sim without biometrics just an id proof to validate.

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“First of all, people should not believe information that is communicated over the phone by a random caller or a message on WhatsApp. One should use discretion and common sense, vet every single call/message from numbers that are not from your caller list,” said a senior police officer. “The saddest part is that the maximum number of people who fall prey to such fraudsters are highly educated as well as elderly people. People may be educated, but not wise. People should not fall prey to greed. Then 80 per cent of the cases will not take place.”

HDFC Bank’s drive for financial fraud awareness. A welcome move.