So, what to do if your parents are being scammed?
Here are some common scams and their warning signs you shouldn’t ignore:
| Type of scam | Warning sign |
|---|
| Lucky draw or a gift | You receive a call, message, or email claiming you’ve won a lucky draw, lottery, or gift. Scammers promise free holidays, gifts, or money you can claim in exchange for sharing your personal banking details or processing
fee.
Remember, you cannot win one that you have never entered! |
| Urgent calls from officials | Scammers impersonate official-sounding sources such as someone from the Tax Department, police, your bank, telecom department, etc. They claim unusual activity on your account, or there are problems with your PAN or Aadhaar
card and threaten legal action. They push you to act immediately to avoid harsh consequences.
No government agency or financial institution will ever request sensitive information such as your banking details,
OTPs, or PINs.
|
| Phishing Emails or SMS | You receive a link or an attachment from an unknown number that sounds almost official asking you to verify or update your account details. Once you click on the link, they either steal your credentials or install malware.
Never click on any unknown or suspicious links. |
| Investment scams | Scammers promise incredibly high returns on small investments within no time and with no risk. Once you pay, either your credentials are stolen, or the scammer disappears.
No legitimate investment ever guarantees
high returns without risk. |
If you notice any of the above-mentioned signs or if something feels suspicious, do the following:
Step 1: Stop immediately
Don’t divulge any personal information to anyone if suspicious or unsure.
Step 2: Check if it’s a fraud
Ask yourself whether the call, message, or email you encountered is fake or genuine.
Step 3: Protect yourself
Contact your bank immediately to secure your account. However, if you or someone you know has been scammed, then:
- Reach out to your local police or nearest cyber cell to register a complaint.
- Dial 1930 to register your grievance with the national cybercrime helpline.
Final take
Understanding and recognizing the scam warning signs early can save you from experiencing financial loss and emotional distress. Remember, erring on the side of caution is always better when it comes to your financial safety.
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.
