₹9 lakh lost in fake bank call—Simple steps to protect yourself from credit card fraud

A recent credit card scam in UT has highlighted the increasing dangers of digital financial crimes. The cyber unit of UT police has filed a criminal complaint against an unknown offender who scammed ₹8.69 lakh from Rajesh Kumar, a resident of Sector 31. The fraud occurred on December 23rd, 2024, showing how cybercriminals are exploiting technological trust to defraud unsuspecting victims, reported TOI.

How the scam unfolded?

Rajesh Kumar received a call from a fraudster impersonating a Punjab National Bank (PNB) employee. The scammer convinced Rajesh to stay on a WhatsApp video call, during which he was asked to display his entire credit card collection, including cards from American Express and Axis Bank, for identification verification.

Soon after, Rajesh received a fraudulent link disguised as an application form. Clicking on the link led to unauthorized transactions on his credit cards. The criminal made six fraudulent charges totalling ₹8,69,400 on his American Express card and withdrew ₹60,000 from his Axis Bank card. Rajesh reported the incident immediately, which led to the deactivation of his cards.

Understanding credit card scams

Digital fraud combined with phishing actions and impersonation schemes are frequently found in modern credit card scams which have become more sophisticated.

• Impostor calls to create apparent genuine bank offers for deception purposes.
• Phishing links delivered through WhatsApp and email alongside SMS serve for the purpose of malware installation or login information theft.
• Tiny electronic devices that replicate ATM and POS terminal data enable criminals to conduct illegal card duplications.
• Scammers fool their victims into installing remote controlling software which enables them to gain full device control as well as private information access to conduct remote access frauds.

How to protect yourself from credit card scams?

1. Never share card information: Bona fide banking institutions avoid all contact methods such as phone calls, emails, and WhatsApp messages when seeking card-related data including number and CVV alongside PIN and OTP.
2. Make sure before you click: Avoid clicking links that come through WhatsApp, SMS or email when they seem doubtful. Changes and applications must always be done through the official bank website.
3. Protected payment methods: You should enhance your security by activating transaction alerts as well as two-factor authentication (2FA).
4. Requests for remote verification: Avoid giving access to your credit card when anyone requests you to read QR codes or display your credit card details during video calls.
5. Make use of virtual cards: Participants can reduce online purchase fraud risk by obtaining temporary virtual credit cards from various banks which come with changing numbers and expiration dates.

In conclusion, cyber scam continues to rise in numbers while criminal schemers develop fresh tactics to deceive individuals' trust. Rajesh Kumar's situation demonstrates how a person with vigilance can still become the target of meticulous criminal planning.

(Note: Using a credit card carries its own set of risks)