Frauds

From fake promotional offers and cancellation OTPs to urgent calls from strangers, cyber fraudsters are finding new ways to trick even well-educated people. Here’s how scammers exploit fear, stress and urgency, and what you can do to protect yourself from financial fraud.

RBI has proposed a 60-day outer limit for temporary debit holds on bank accounts or transactions suspected of being linked to cyber fraud. Customers would get 20 days to explain suspicious transactions, while banks would have fixed timelines for review and police referrals.

IRDAI has warned policyholders against a fake website impersonating its Bima Bharosa insurance grievance platform. The regulator has directed consumers to use only the official Bima Bharosa portal and urged those who may have shared sensitive information to take immediate precautions.

A Hyderabad consumer commission ordered a ₹10 lakh insurance refund to a 73-year-old retired professor after finding the policy was sold without free and informed consent. The bank and insurer were also ordered to pay ₹60,000 in compensation and costs.

The Uber driver mistakenly received ₹37,000 via Google Pay. He promptly returned the money but refused to accept any reward. Here's why.

Meta removed fraudulent ads from Facebook and Instagram after India flagged scams with baits of explicit content while promoting malicious apps. The apps could steal users’ credentials, OTPs and bank PINs. Cyber fraud losses in India reached $2.4 billion in 2025.

An Ahmedabad police inspector lost ₹5.4 lakh after fraudsters allegedly posed as insurance officials and promised a ₹19.5 lakh payout. The case highlights key red flags in insurance refund scams, including upfront fees, QR-code payments and repeated demands for money.

Taxpayers are increasingly being targeted by emails and websites that appear to be linked to the Income Tax Department. From suspicious links to requests for sensitive details, here are the key warning signs to watch for and the steps taxpayers can take to stay safe.