Day by day cyber fraud is on the rise with scammers constantly inventing new tricks to steal your money. To safe guard their customers, the State Bank of India (SBI) has shared some vital information about the top 10 common fraud tactics and how to avoid falling as a victim. 

1. Fake TRAI Calls

Scammers may call you and claiming to represent TRAI (Telecom Regulatory Authority of India) and threaten you to disconnect your mobile connection due to unverified KYC. Remember TRAI does not handle mobile services at all, only telecom companies do. Stay alert! 

2. Customs Parcel Scam

You may be told your parcel is stuck at the customs with an illegal items, threatening to go to jail unless you pay a fine for it. If you receive such calls like that than report them immediately instead of panicking.

3. Digital Arrest Fraud

Scammers call you might claim that you are linked to a criminal case and they demanding money to reduce penalties. Note that, no investigation agency conducts inquiries online or demands payment via calls.

4. Family Member in Trouble

Fraudsters may call you and pretend your relative has been arrested by them and demand money for their release. Don’t panic, Always verify with the family member before taking any action. 

5. Fake Investment Schemes

Be aware of some offers promising overnight wealth through specific stocks or investments. These are often traps designed to steal your money. 

6. High Salary Online Jobs

Scammers may be offer you fake online jobs with high salaries and asking for a security deposit upfront. Don’t do it, Until verified because once you paid, they are disappear no one will pick up your calls. Avoid paying for job offers.

7. Lottery Scams

Fraudsters may be inform you via email, WhatsApp or message that you have won a lottery, asking for your bank details (A/C No, Internet Banking ID’s and Passwords, Credit or Debit Card No, Card CVV, OTP) to claim the prize. Be Aware and Never share your banking information in such of cases. 

8. “Accidental” Money Transfers

Scammers might claim that they are accidentally transferred money to your bank account and demand it back. Always verify it with your bank transactions before taking any steps.

9. Fake KYC Update Links

You might get a calls or messages for asking to click on a link to update your KYC details. Banks never request KYC updates via links or calls. Always visit the official bank website or visit your branch for such updates. 

10. Tax Refund Fraud

Scammers may be pose as an income tax officials and request your bank details for a fake tax refund. Remember, income tax departments already have your official documents and they won’t ask you for such an information. 

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