PRESENTATION

ON-
FRAUD CASES
IN
IT INDUSTRY
SUBMITTED BY-DEVAVRAT SINGH
ROLL NO-2002160100035
SECTION-G2 2A
---------:TABLE OF CONTENTS:---------
• Fraud in online banking
• Credit card and debit card frauds
• Online shopping fraud
• Identity theft
• Social media fraud
• Frauds by providing technical support
• Scamming by offering a job
• Travel frauds
• Mobile wallet or e-wallet fraud
•How to avoid these online Frauds
•Conclusion
--------------:INTRODUCTION:-------------
The Internet has become indispensable in our daily life. Things have become
so easy! Teaching, learning, money management, shopping,
communication, business promotion, – all issues can be solved using the
internet. We have become habituated to online shopping, online selling,
online learning, and many more! But in spite of having countless benefits, its
risk factors cannot be ignored especially now as different types of online
frauds in India are growing day by day.

Online fraud is a strategy to deceitfully steal information of a victim or a

business entity through websites, e-mails, or any other internet means
for fraudulent transaction , latest reports latest reports suggests that 56% of
Indians generally succumb to several types of internet frauds on a regular
basis. Let’s have a quick look at the various types of online fraud in India.
 ---:Fraud in online banking:---
Gone are the days when you had to stand in a long queue in a bank for
cash transaction or withdrawal. Now everything is at your fingertips! Through
net banking or online banking, you can enjoy all banking facilities 24/7 and
can deliver your bills, transfer money, check account details easily and swiftly.
But unfortunately, the more people are using net banking; the more online
frauds in banking are growing!
But how does this happen? Generally, fraudsters create websites that are
very similar to different legitimate financial organizations. When you will enter
those sites you will be asked to put your personal information, pin code, etc.
and the moment you will provide those, the fraudsters will use your personal
details to transfer your money from your account. This is called phishing, a
cybercrime that is spreading widely around India.
Credit card and debit card frauds:---
In this present digital world, even credit cards and debit cards are not safe! Yes, I
know you find it hard to believe! But it’s true! Do you remember what happened in
October 2016? SBI closed its 6 lakh debit cards when a malware-related breach
was informed in a non-SBI ATM network. It affected 32 lakh debit cardholders
across 19 banks! Can you imagine how grave the whole matter is?

Here the scammers steals the information of your card and then use it for various
online and offline transactions. Through skimming your entire card information
gets copied without your knowledge! While you withdraw cash in an ATM, a card
trapper is attached to keep your card open after a normal transaction.

Nowadays the stealing or cloning of the information of your credit and debit card
is one of the most increasing digital banking frauds in India.
 ----:Online shopping fraud:----

You enjoy shopping, right? I can understand! And especially when you don’t need to
go anywhere to buy an item, you just scroll your computer or mobile screen,
place the order and you will get what you need. What can be more comfortable
and relaxing than this? But here also you have to be careful as online shopping
frauds in India are increasing in a rapid way.
For this scammers generally give fake ads of different items with lucrative
discount options. When you will click on that post they will share some fake identity
proof and gain your trust. After that they will ask you to give advance payment
and the courier or transportation charge. When you will make the payment, they
will not answer your call or emails. They will even block you so that you cannot make
any further calls or messages!
Scammers can contact you even as a buyer. At first to gain your trust they will send
you some small amount of money. For further transaction they will ask your QR code.
After scanning it they will withdraw the money from your account.
------------:Identity theft:----------
Identity theft is another dangerous consequence of our constant immersion in a digital world. To
get your personal information the scammer doesn’t have to collect your purse or official
documents. Your personally identifiable information (PII) can be acquired in many ways.

Your online browser can be taken over by a virus without your knowledge. When you will surf a
legitimate website URL, you will be reoriented to a fake site. As a result the fraudsters can collect
the PII information which you have already given to the website. When you are scrolling different
websites, you can be tricked to download a “malware”. Afterwards that “malware” will steal all
your personal information and reveal it to the cybercriminal.

After having all your personal information the criminals will use it in different matters and will
withdraw money using your name and account details. They can engage themselves in different
illegal activities using your personal sensitive information. Oh my goodness! This is really
dangerous!
Social media fraud and Frauds by
providing technical support:------
Different social media like Facebook, Instagram, Twitter, and YouTube are
burgeoning day by day. Consequently the scammers are also using these
social media making countless users as their victims. Fraudsters generally
create fake profiles to present themselves as legitimate persons and to trap
people in their tricks. These scammers can even hack your original profile and
reach people using your profile.

This is another example of online fraud. Here you will receive a phone call from an
unknown number; the person on the other end will tell you that your computer or
any other technical devices need protection. They will present themselves as
technical experts. Gradually they will convince you to share your personal details.
When you will give them the necessary information they will vanish like air!
Mobile wallet or e-wallet fraud:-----
Mobile wallet online frauds in India have become rampant in present times.
Technological inventions of modern science have helped scammers and
fraudsters to trick Smartphone users in different innovative ways.

In this case, generally, the fraudsters target the user ID and the one-time
password. When they get this information they can easily hack your account
and withdraw the entire money which your account has!
 How to avoid these online Frauds:---
Now you already know how online frauds are outspreading like wildfire. But don’t be afraid. To keep yourself safe,
maintain the following tips:

• Always look out whether your computers or mobiles are updated or not. Keep the latest security software, operating
system, and web browser as these can protect your devices from malware, viruses, and other online threats. If the
possible switch on the automatic updates to get the newest versions of these.

• Always avoid opening any unsolicited messages or emails. Don’t open any link provided through an e-mail or message.

• Make strong passwords that contain at least eight characters, symbols, and numbers. Try to mix the upper case and
lower case. While forming a password don’t use any familiar information. And remember don’t set the same password
for all your accounts.

• Try to use a secured internet connection. Set a password for your home wireless network. Always avoid using a public
Wi-Fi network.

• While online shopping always visits a legitimate website. While you will be at the checkout screen, securitize whether the
gateway is secure using https:// or not.

• Always update the privacy setting of your social media account.

• Don’t share your personal details with other persons. Keep your personal information safe without trusting others.

• While browsing a site always read the privacy policy. If you find anything fishy, at once leave the site.
--------:CONCLUSION:----------
In this digital world, things are changing rapidly. You
can do all your necessary works within a minute from
anywhere. But sadly every good thing has its side
effects. Online frauds are one burning example of that.
Be careful and follow the above tips to avoid different
types of online frauds in India.