Caught in the Net: Navigating India's Growing Wave of Cyber Scams

IN THE PAST FEW YEARS, CYBER SCAMS IN INDIA HAVE EVOLVED FROM PESKY EMAIL FRAUDS TO COMPLEX SCHEMES INVOLVING DEEPFAKES, CRYPTOCURRENCY, AND EVEN FAKE POLICE CALLS. THESE SCAMS ARE NO LONGER THE EXCEPTION-THEY'RE BECOMING AN EVERYDAY THREAT. IT'S TIME WE TAKE A CLOSER LOOK AT WHAT'S HAPPENING, HOW TO RECOGNIZE THESE SCHEMES, AND WHAT WE CAN DO TO PROTECT OURSELVES.

- GV ANAND BHUSHAN

The New Breed of Scams

Let's start with what we've seen recently. Take, for example, the digital arrest scam that has caused a wave of panic among middle-class Indians. In this con, scammers pose as police officers or officials from regulatory agencies like the RBI. They make intimidating video calls, sometimes using deepfake technology to appear in uniform, and claim that the victim's phone or bank account has been linked to illegal activities. One Bengaluru resident reported losing ₹10 lakhs after receiving a video call from a supposed police officer who showed a forged arrest warrant on screen, demanding immediate payment to "settle" the case.

Then there are investment frauds, where people are lured into get-rich-quick schemes involving cryptocurrency. Just last month, over 500 investors from Mumbai fell for a scam promising them doubled returns within six months if they bought into a new digital token. By the time the investors realized they had been duped, the perpetrators had vanished with over ₹200 crores.

Phishing attacks are another ubiquitous threat. The classic "Your account has been blocked-click here to reactivate" message is now being adapted to WhatsApp and SMS, targeting older users who may not be familiar with the new communication channels. In Delhi, a retired schoolteacher lost her entire life savings when she clicked on a seemingly urgent message from her bank, entered her details, and unwittingly gave hackers access to her account.