10 cyber frauds Bank of Baroda says customers should watch out for

With a majority of transactions now taking place online, cyber frauds have been hitting Indian consumers hard. While there are redressal mechanisms in place, banks and other financial institutions continue to make customers aware of emerging threats. In its latest email communication, state-run lender Bank of Baroda has listed 10 cyber frauds that customers should watch out for.

Here are the cyber frauds highlighted by the bank:

1. Digital arrest scam Fraudsters impersonate police officers and accuse individuals of being involved in crimes, threatening them with "digital arrest". Customers should note that police do not conduct digital arrests. If you receive such a call, disconnect immediately and report the incident.

2. Fake parcel or bill payment scam In this scam, fraudsters claim that your parcel is stuck at customs and that you may face arrest. They may also share fake bill payment links. Customers should avoid clicking on suspicious links and report such attempts instead.

3. Phone service suspension scam Fraudsters pose as officials from the Telecom Regulatory Authority of India (TRAI) or cybercrime departments and claim that your phone services will be suspended due to alleged illegal activities. Consumers should remember that only telecom service providers handle service disconnections, not TRAI.

4. Family member arrest scam Using AI-generated voice cloning, fraudsters may mimic the voice of someone known and demand money, claiming that a relative is about to be arrested. Before acting on such requests, verify the information with your family members.

5. Stock trading or investment scam Social media advertisements promising unusually high returns may direct users to fake investment platforms or fraudulent links. Investors should avoid participating in unverified schemes and investment opportunities.

6. Online job or lottery scam Fraudsters lure victims with promises of guaranteed jobs, easy earnings and later demand money. Consumers should avoid offers that promise quick or assured returns.

7. Wedding invitation scam Scammers send malicious Android APK files masked as wedding invitations. Users should never download or install unsolicited APK files received through messaging platforms.

8. Faster tax refund scam Fraudsters pose as tax officials and ask for a user’s bank account details on the pretext of expediting tax refunds. Consumers should note that tax authorities generally do not seek such information over calls, messages or emails for processing refunds.

9. Steganography scam Fraudsters hide malware inside seemingly harmless files that can bypass firewalls and antivirus softwares. Users should avoid downloading files from unknown or untrusted sources.

10. Fake gas service provider scam Scammers impersonate LPG or gas service providers through WhatsApp messages and SMSes containing urgent payment or verification links. To avoid such traps, consumers should make payments only through official platforms and verified channels.

Digital arrest scams, in particular, have been witnessing a sharp rise in India, with authorities repeatedly warning citizens about such frauds. If you fall victim to any cyber financial fraud, you can immediately contact the national cybercrime helpline at 1930, which is managed by the Ministry of Home Affairs.