Here is a rewritten version of the content without changing its meaning, retaining the original length, and keeping proper headings and titles:
With the increasing use of online banking, UPI apps, and digital wallets, scammers are becoming more sophisticated. Impersonation scams are on the rise, and they’re more convincing than ever. A reputable bank has identified some common tactics used by scammers to dupe people in the digital age.
Bank Impersonation Scam
In this type of scam, you receive a call or message from someone claiming to be from your bank, stating that there’s an issue with your account. They may sound genuine and concerned, but their ultimate goal is to obtain your OTP, login credentials, or convince you to make an urgent fund transfer to “secure” your account.
Some ways to identify such scams include being cautious of any call that asks for your password or OTP, as banks never make such requests. If the caller is pressuring you to act immediately, it’s likely a scam call.
Police/Government Official Scam
Scammers often exploit fear to their advantage. In this type of scam, the caller claims to be from the police, income tax department, or another government agency, using legal jargon and demanding immediate payment in formats like gift cards or cryptocurrency. Legitimate government officials or police never ask for payments over the phone, and you cannot “settle” a legal issue with an Amazon voucher.
CEO/Executive Fraud (Business Email Compromise)
A new type of fraud is circulating in business circles, known as a Business Email Compromise. The scammer poses as the company’s CEO or finance head, sending a genuine-looking email that requests an urgent, confidential transfer to an unrelated account. Red flags to watch out for include slight variations in email IDs, a tone that demands secrecy, and transfers that don’t make sense.
Tech Support Scam
This scam aims to create panic by sending a pop-up on your laptop or a call warning that your device is infected. The person on the call claims to be from a tech company and urges you to install software or grant remote access, when in reality, they want to gain control of your device to steal data or demand payment.
You can easily identify such frauds by being aware that tech companies never call to inform you that something is wrong with your device.
Friend or Relative in Distress Scam
Most people are likely to fall for this scam, where you receive a message or call claiming to be from a friend or relative, stating they’re in an emergency and need money urgently. Sometimes, it may be a hacked account or a fake number.
If something about the message or call feels off, it probably is. You can always call the relative or friend to verify if they’re in an emergency before sending any money.
How to Protect Yourself from Frauds
Anis Ahmed, an anti-fraud expert and MENA Chapter Chair of the Association of Certified Financial Crime Specialists (ACFCS), warns, “Scammers are increasingly using impersonation tactics to deceive individuals into revealing sensitive information or transferring money under pressure. These scams, ranging from fake bank calls to impersonations of government officials, senior executives, and even distressed friends or relatives, are designed to exploit fear and urgency. Scammers are evolving rapidly — the key defense is a calm mind and informed vigilance. Any unsolicited call or message requesting personal or financial information should be treated with suspicion and verified through official channels.”
Another cybersecurity expert, Raina Verma, Association of Certified Fraud Examiners and ACFCS, says, “We are entering an era where fraud will accelerate at a pace never seen before. Today, a well-written email is no longer a reliable indication of authenticity — it could easily be composed by AI. Many of you receive emails from your banks advising you on scam protection. However, always remember: some emails that seem legitimate might not be. If an email urges you to click a link and update information, pause. Lesson number one: Never click links in unsolicited emails. Anything that pressures you to bypass your own security checks is a clear red flag. We must continuously train ourselves and others to recognize these warning signs before taking action.”
Raina Verma has provided the following tips to protect yourself from such scams:
Verify Before You Act
Always call or directly visit the organization’s official website to confirm any requests you receive. Never act on the email by clicking on the links provided.
Never Share Private Information
Especially over email, SMS, or unexpected phone calls. Legitimate organizations will not ask for sensitive information like OTPs, login details, or full passwords.
Watch Out for Urgent or Emotional Appeals
Scammers often create a false sense of urgency, whether it’s pretending a loved one is in trouble, your CEO requesting payment, or fake government threats. Anything that seems genuine and prompts you to act should be verified by making a call yourself.
Inspect Email Addresses Carefully
Look for slight variations or misspellings in sender addresses that mimic legitimate companies. Use the app on your phone or visit the website on the official handle.
Be Skeptical of Unusual Payment Methods
Any request for payment through gift cards, crypto, or wire transfers is highly suspicious. If you’re unsure, don’t act; instead, verify the request through official channels.
“To protect yourself, never share OTPs or passwords, scrutinize email addresses and URLs for inconsistencies, avoid clicking on unknown links, and enable multi-factor authentication (MFA) across all accounts. If someone claims your relative is in trouble, call them directly and ask a question only they would know—emotional scams prey on your instincts,” Ahmed says.
“We are now not a person but a device. Our digital footprints are all over the place. Scammers are on the hunt, and we have to be right all the time, but they only have one chance. Have a course of action for yourself, such as making payments only during certain parts of the day when you can genuinely sit and focus. Don’t rely on someone telling you a loved one is in trouble; call the loved one. Almost never go for any investment that claims unbelievable returns, as it may be unreal. These are almost the most common categories of frauds; train yourself, as the first line of defense for you is YOU,” adds Raina Verma.
