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Fake offers to malicious apps: 5 ways to protect your money and bank account

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Fake offers to malicious apps: 5 ways to protect your money and bank account

The festive shopping season may be over, but online fraud risks persist. Fake discount offers, cashback messages, impersonation calls and malicious applications continue to be used by fraudsters to trick consumers into sharing sensitive information or transferring money.

In Pune, an 80-year-old man allegedly lost ₹5 lakh after a fraudster posing as an Election Commission official persuaded him to download an application for a voter card update. In Hyderabad, an investigation into a fraud involving a promise of ₹45 lakh for an old ₹1 note reportedly uncovered a network of mule accounts.

With artificial intelligence (AI) making fraudulent websites, messages and voice calls more convincing, consumers cannot rely solely on obvious signs such as spelling mistakes or poor website design.

Cybersecurity firm Protectt.ai and the National Payments Corporation of India (NPCI) have highlighted several precautions consumers should follow to protect themselves from digital fraud.

Fake shopping websites, duplicate links and unsolicited messages offering discounts, cashback or free vouchers are common ways to lure consumers.

NPCI advises users to shop only through official websites and applications and avoid links or files received from unknown sources.

Protectt.ai also cautions against offers that demand advance payments, personal information or installation of unfamiliar applications to claim rewards.

Access a retailer's website directly instead of following links received through WhatsApp, SMS or email.

Fraudsters may impersonate government officials, bank representatives or delivery companies and ask consumers to install applications to update documents, receive refunds or resolve account-related issues.

The Pune case illustrates how malicious applications can be used as part of such schemes.


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