Scams 2024

Different sectors were hit by scams and frauds, here's uncovering a few

- Anjali Kochhar

"Your father is under arrest. But we think he is innocent and got caught wrongly. If you don't believe me, I can put him on call," said a fraudster who impersonated himself as a police commissioner on a WhatsApp call. He then threatened this writer to report the case to media if he wasn't paid Rs 50,000 on call. However, what the caller didn't know was that he was calling a journalist. Having understood that something is amiss, this writer got to bottom of it. A thorough investigation revealed it to be 'digital arrest scam'. This is just an example.

The year 2024 saw various sectors being hit by a wave of frauds enabled by misuse of technology and driven by individuals exploiting system vulnerabilities. Here are some of the scams that came to the fore in 2024.

Digital arrest

As mentioned in the beginning, digital arrest is one of the most prevalently spread cyber frauds of this year. Between January and April 2024, Indians lost a staggering 120.3 crore to "digital arrest" fraud, according to data from the Indian Cybercrime Coordination Centre as reported in October. In these scams, criminals contacted victims via phone or video calls, creating a scenario where the target believes they are implicated in a legal case. This tactic is designed to coerce victims into paying money under the threat of jail time, as explained by cybersecurity experts.

Medical

Fraudsters preyed on individuals by selling policies that promised comprehensive protection. However, when policyholders filed claims, these so-called insurers vanished, leaving victims to face significant financial and emotional turmoil. The lack of stringent regulatory oversight in the insurance sector contributed to the proliferation of these scams.