Financial Frauds: Scammers are targeting senior citizens, they are looting money in these ways, and know how to stay safe

Technology has developed a lot in the last few years. Whereas earlier we used 2G, now 5G has taken it to a new level. Now with one click and tab, your most important tasks are done in minutes.

Everything from grocery shopping to booking train tickets can now be done with the help of your smartphone. Even though the development of technology has taken us to great heights, it has also come with some disadvantages. Increasing technology also gives scammers the option to cheat people by using better methods.

Increasing online frauds:

• Increasing technology has given scammers many better options to trap people, which include many examples like AI, and deep fake.
• The general public suffers the most due to this because they share their data and some important details on social media etc. If hackers target those platforms then all the data of the users goes to them.
• Although with the changing times, people have also become smart, but still senior citizens fall into the trap of these scammers, due to which they suffer huge losses.

How scammers deceive:

• As we know, scammers target senior citizens the most. The simple reason for this is that they are not very techno-friendly, due to which it becomes easy to deceive them.
• In most cases, fraudsters ask for personal information on the pretext of making some correction, which includes details like debit or credit card number, date of birth, password, and OTP.
• Using this information, they steal lakhs of rupees, about which the victim does not know for a long time.
• Some cases of duping senior citizens by creating fake profiles on social media have also come to light, in which scammers demand the private data of the users.
• Apart from this, in some cases, it has also come to light that scammers trap people by luring them with life insurance, KYC verification, and gifts.

Keep these things in mind:

• Do not share your important and sensitive information with anyone.
• Banking employees do not call you from any personal mobile nor ask for any information like PIN, or card details.
• Do not click on any link from any unknown source.
• If you are shopping online, check the platform carefully and avoid filling in transaction details online.
• Do not share your details with anyone on social media.
• Keep email and social media platforms secure with multi-step verification.