Online payment fraud is no longer a “once in a blue moon” occurrence. Chances are, it has happened to you or someone you know has been duped in the recent past. National Crime Records Bureau (NCRB) reported that cases of cyber crime recorded an 11.8% increase in 2020, a year when most rates of serious “offline” crimes fell. As people continue to explore alternate channels to transact online, the more vulnerable the ecosystem is likely to get. It is therefore pertinent for consumers to ensure they are fully aware of what it means to transact online safely, and what needs to be done in case they are duped, in order to recover what they have lost.
If you fall victim or you know someone who has fallen prey to an online payment scam, here’s what you should do –
1. Reach out to your bank, money app, or credit card company immediately. Even if you’re not 100% sure you’ve been scammed, report it immediately, via Phone Banking (don’t wait to visit a physical branch). Request them to block your debit/credit card and deny all transaction requests made on the associated account
2. Scrutinise your other bank account statements for suspicious activities and change all your online transaction passwords immediately. Chances are, the criminals have details of your other accounts as well.
3. File a report: If you’ve been a victim of a fraudulent act, file an FIR with your cybercell. Before you file the report, have the proper documents handy which must include:
a. Bank statements of the concerned bank for the last six months
b. A copy of the SMSs received related to the suspected transactions
c. Copy of the victim’s ID and address proof as in bank records
4. Do not make any more payments, for a short time: At times, scammers target people caught in recent scams. Thus, you must stop further payments to avoid getting stuck in the loop of another scam. Also, don’t give money to anyone on the promise they will get your lost money back.
5. Assess your security at home and online: If your personal or financial information has been given out or stolen in a scam, it is imperative to immediately change all of your online passwords on a device not linked to the scam. Use a different password for each account. If your computer or phone has been hacked in a scam, make sure to take it to an authorised technician to be cleaned.
Issued in Public Interest by Razorpay