In recent times, a new type of scam has been targeting people across India. This scam involves fake bank deposit messages designed to trick you into giving away your money. Let's understand how this scam works and how you can protect yourself.
How the Scam Works
Table of contents [Show] 1. The Call | You receive a call from a person who claims to be a bank representative or a company executive or someone close to or associated with your family. The caller informs you that they are transferring some money into your bank account. |
| Shortly after the call, you receive an SMS that appears to be from your bank, confirming that a certain amount of money has been deposited into your account. This message looks legitimate and can easily fool someone into believing it is real. But if you look carefully, the message has been sent from a private number and not by the bank. | |
3. The Request | The caller then contacts you again, apologising for the mistake and explaining that they transferred more money than intended. For example, instead of ₹3,000, they claim to have transferred ₹30,000. They request you to return the excess amount, which in this case would be ₹27,000. Many people fall for this and transfer the “excess” money and lose it. |
4. The Deception | In reality, no money has been deposited into your account. The SMS you received was fake, and the caller is trying to trick you into transferring your own money to them. |
Why People Fall for It
| The SMS you receive looks exactly llike the format and style of genuine bank messages, making it difficult to identify as fake. | |
Pressure and Urgency | Fraudsters create a sense of urgency and pressure you into acting quickly without verifying the information. |
Politeness and Professionalism | The callers are often very polite and professional, making their story seem believable. |
Real-Life Impact
This scam can have devastating effects on individuals and families. Losing a significant amount of money can lead to financial hardship, stress, and difficulty in meeting daily expenses.
How to Protect Yourself
1. Verify the Information | If you receive such a call, do not act immediately. Check your bank account through official channels like your netbanking or bank's mobile app to see if the money has actually been deposited. |
2. Contact Your Bank | Call your bank directly using the official customer service number to verify any transactions. Do not use any telephone numbers given in the suspicious call or message. |
| Never share your bank details, PIN, or any other sensitive information over the phone or through SMS, especially if you did not initiate the contact. | |
4. Be Skeptical of Unsolicited Calls | If you receive a call from someone claiming to be from a bank or company asking for money, be cautious. Scammers often pose as representatives of legitimate organisations. |
5. Report the Scam | If you believe you have been targeted by this scam, report it to your bank and the local authorities. This can help others to avoid from falling victim to the same scam. |
By understanding how these fraudsters and scams work and taking proactive steps to verify information, you can protect yourself and your family from financial fraud. Stay alert and stay safe!
