FRAUDALERT

Fraud Alert: How a Company Valued at US$13.6bn Was Reportedly Hacked through a 10-minute Call

Yogesh Sapkale 22 September 2023

As security and privacy experts have repeatedly warned us, scammers and tech-savvy fraudsters constantly come up with new ways to crack the system, bypass security systems or find new ways to defraud people with a combination of technology and psychographics.

Consumer Issues

Fraud Alert: Beware of Influencers and their Fake Credentials

Yogesh Sapkale 15 September 2023

Many of you may not have even heard the name of Ravisutanjani Kumar, a social media influencer, who was followed on X (erstwhile Twitter) by none other than the prime minister (PM) himself and had a very impressive list of clients.

Full Edition

Moneylife Online Magazine

Lead Article

INVESTOR ISSUES

Sucheta Dalal , 24-September-2023

Family Feuds: Greed, Ego and Value Destruction for Minorit...

The inability to share wealth and power amicably among siblings, and within ...

Top Stories

JSW Energy: High Expectations

STOCKS

Dixon Technologies: Average Growth, High Valuation

STOCKS

IPO Review: Signature Global (India) Ltd

STOCKS

Other Highlights

Gateway Distriparks Ltd: High Margins, but Capital-intensive Business

STOCKS

Where Are We in the Market Cycle? A Framework for Comprehensive Analysis

STOCKS

IPO Review: Sai Silks Kalamandir Limited

STOCKS

Consumer Issues

Fraud Alert: 2 Lakh Aadhaar, PAN Cards Forged

Yogesh Sapkale 08 September 2023

In our rapidly changing world, governments worldwide have embarked on ambitious endeavours to try and use digital modes for providing services to citizens. While these efforts are commendable in terms of efficiency and accessibility, a glaring concern that often goes unnoticed is the inadequate security and privacy protection measures in these systems.

Consumer Issues

Fraud Alert: Bogus e-Challan for Traffic Rule Violations

Yogesh Sapkale 01 September 2023

These days, the government's answer to fixing all wrongdoings and violations is to find a technical solution. It does not matter if the solution is logical or not. In the past few years, every government department and regulator has launched, what they believe, are massive, miraculous solutions and publicised them with a media blitzkrieg that is pitched to ordinary citizens as a series of masterstrokes after another.

Consumer Issues

Fraud Alert: UPI Nightmares, Beware of Courier Scam

Yogesh Sapkale 25 August 2023

Technology is a double-edged sword; it improves lives in myriad ways but, on the flip side, it often hurts the underprivileged in multiple ways. Take the case of digital fraud, where a set of victims lose Rs500 each.Technology is a double-edged sword; it improves lives in myriad ways but, on the flip side, it often hurts the underprivileged in multiple ways. Take the case of digital fraud, where a set of victims loses Rs500 each.

Consumer Issues

Fraud Alert: Beware of These 4 Scams

Yogesh Sapkale 18 August 2023

Technology, and all it has done to improve our lives, is definitely a boon but it is a double-edged sword unless you are careful. In a digital era, where information is primarily exchanged through the internet, it has also provided cybercriminals anonymity and expansive reach.

Consumer Issues

Fraud Alert: Money Extortion Scam in the Name of Customs, Beware of Fake Notices from I4C

Yogesh Sapkale 11 August 2023

There is nothing like visiting a government office or a public sector bank (PSB) to cut your ego down to keep your feet on the ground. Employees there rarely have the time to acknowledge you, let alone your 'aura' or 'high rank'. Such experiences are enlightening!

Consumer Issues

Fraud Alert: Beware of Tax Refund Messages & Ponzi Apps Offering 6% Daily Returns

Yogesh Sapkale 04 August 2023

A few weeks after the monsoon reaches its full majesty, most of us begin the annual ritual of scrambling to meet the 31st July deadline to file income tax returns (ITRs). There is a new ritual that has come up after this deadline is over -- we begin to get bombarded with messages and emails about income tax refunds due to us. Unfortunately, these are from cybercriminals looking to trip you up by pretending to be the tax department. The scam operates by trying to get the taxpayer either to 'apply' or to verify something by clicking on the link sent in an email.

Consumer Issues

Fraud Alert: Investment Scam Links of China and Terrorist Group Hezbollah; Crypto Frauds Increasing

Yogesh Sapkale 28 July 2023

Several messages doing the rounds on social media are promising 'guaranteed returns with minimum or zero effort' to ensnare unsuspecting victims who often have no clue as to how they are being duped by organised cyber criminals. It is yet another example of how easy it is to dupe people using the twin psychological tools – fear or greed.

Consumer Issues

Fraud Alert: Single-use Apps May Still Be Grabbing Your Data

Yogesh Sapkale 21 July 2023

Smartphones were expected to ease the lives of users by making it easy to access goods and services -- be it government compliances, financial investments, entertainment or shopping. Unfortunately, every seller or service provider decided to create an app that they try and compel users to download.

Consumer Issues

Fraud Alert: Mobile or Phone Number Spoofing

Yogesh Sapkale 14 July 2023

The political atmosphere in India has become so uncertain and unpredictable that it has created a fertile ground for scamsters to fool elected representatives and their loyal supporters just as easily as they fool ordinary people.

Consumer Issues

Fraud Alert: Cyclic Scams!

Yogesh Sapkale 07 July 2023

Every year, we first hear prayers for a bountiful monsoon. After a few weeks, the prayers turn into the nursery rhyme, 'Rain Rain Go Away' as people struggle with the usual issues of water logging and potholes on the roads. All this is reported in newspapers and on TV channels on a cyclical basis. If you watch carefully, confidence tricks and scams, now graduated to cyberspace, follow a similar pattern.

Consumer Issues

Fraud Alert: WhatsApp Pink, Gold, Blue Are Hoax Aimed To Spread Malware on Android

Yogesh Sapkale 30 June 2023

Just like the rains come every year, followed by news reports about water logging at several places, cybercrime stories are also about old scams or cheating modules being recycled to dupe new persons. For example, every few months, scammers try to lure people with promises to change the colour of their WhatsApp.

Consumer Issues

Fraud Alert: Beware of Fake URLs with Cyrillic Letters

Yogesh Sapkale 23 June 2023

You are rushing to reach somewhere, and suddenly you receive a message, either as email, SMS or chat, asking you to click the URL for something. The URL may look like an authentic one from your bank. You will be surprised to know that what you see, may not actually be genuine. In fact, it is so hard to detect that it is extremely worrisome.

Consumer Issues

Fraud Alert: 40% Increase in Phishing, Smishing Attempts, Watch Out for IPFS Phishing

Yogesh Sapkale 16 June 2023

The first quarter of 2023 saw a notable rise in cyberattacks; phishing and smishing attempts were exceptionally high and saw a 40% increase in their share of overall cyberattacks. These attacks—including malware, scams, and phishing—aim to steal consumers' sensitive personal information like login IDs, passwords, card details, and bank account details.

Consumer Issues

Fraud Alert: Online Task and Like It Scams Are Spreading Rapidly

Yogesh Sapkale 09 June 2023

The internet is one of the most significant innovations of all time and has impacted everyone's life. The march of technology and technological innovation has been so rapid that people were thrown onto the internet wagon without choice, training or awareness about its advantages and dangers. Indians were especially affected since we went from poor telephone coverage to high-speed tech saturation.

Consumer Issues

Fraud Alert: 'Professional' Cyber Attacks Are Increasing, So Is Malware, Ransomware

Yogesh Sapkale 02 June 2023

Forget about the organised and large-scale duping or cheating of people that emanates from scam clusters such as Jamtara or Mewat, cybercrime today is a sophisticated business that regularly updates itself and its tools. Using the latest malware or trojans, new-age cybercriminals manage to stay a jump ahead of reputed cybersecurity experts and companies providing security suits. The middle and top management of Kaspersky, a well-known name in security software, was recently under a 'professional' attack using an invisible iMessage with a malicious attachment. This extremely technologically sophisticated spyware is called 'Triangulation' by Kaspersky. I will explain this in detail later.

Consumer Issues

Fraud Alert: Scammers Impersonating Company Boss To Siphon Money; The 'Like It' Scam Spreading Widely

Yogesh Sapkale 26 May 2023

One evening, Prasad (name changed) was busy winding up his routine work at the accounts department of Flagwell Pvt Ltd, (name changed) when he saw a new WhatsApp message.

Consumer Issues

Fraud Alert: 3.66mn Bogus Mobile SIMs Disconnected via Sanchar Saathi

Yogesh Sapkale 20 May 2023

With 1.17bn (billion) subscribers, India has emerged as the second-largest telecom ecosystem in the world. In addition to communication, Indians use mobile devices for banking, entertainment, e-learning, healthcare, and government services. However, the unchecked growth with minimum user verification has led to a sharp rise in cyberfrauds using mobile phones.

Aadhaar

Fraud Alert: Aadhaar 'Lightning' Strikes Individuals and the Tax Dept

Yogesh Sapkale 12 May 2023

Ever since the Unique Identification Authority of India (UIDAI) created Aadhaar as a unique biometric identity for residents, it has dismissed all doubts and queries by being in permanent 'denial mode'. Moneylife has been reporting, analysing and highlighting issues with Aadhaar through hundreds of articles, even before its formal launch as the brainchild of tech-czar Nandan Nilekani.