Cyberscam Hitlist: Most Alarming Cyber Scams of 2024

Introduction

Cybercrime has become a pervasive threat, with cyber scams evolving and targeting unsuspecting individuals across various platforms. According to recent statistics, cyber scams and frauds are on the rise, with an increasing number of individuals falling victim to online treachery each year. As such, it is crucial to be mindful and proactive in protecting oneself against these threats. In this blog, we will discuss the different types of cyber scams to be aware of this year and provide safety tips to safeguard against them.

Growing Threats Of Cyber Scams In India

Let’s look at the alarming data that triggers the concern for rising cyber scams in India:

• In 2023, India witnessed a cybercrime rate of 129 incidents per lakh population.
• Among Indian states and territories, Delhi recorded the highest rate at 755 incidents, trailed by Haryana at 381, and Telangana at 261.
• It is also noted that in 2023, India ranked as the 80th most targeted country globally for cybercrimes, with local threats targeting nearly 34% of users.
• Notably, financial fraud emerged as the most prevalent form of cybercrime, constituting 64.8% of reported incidents in India.

These figures underscore the persistent challenges posed by cyber threats and the pressing need for robust cybersecurity measures nationwide.

Types of Cyber Scams to be Aware of This Year

Phishing:

Phishing attempts still top the list of most prominent cyberscams. It involves fraudulent communication initiated via text or email, where scammers impersonate legitimate entities to extract personal or financial information.
To protect against phishing scams, one should be cautious of urgent messages prompting clicks on suspicious links or unknown attachments.


Deepfake Scams:

Deepfake frauds are claiming the cyber scams news, unleashing miscommunication and fake rumours all over.
Scammers are abusing this AI-powered technology to create highly realistic but entirely fabricated audio and video content. These scams often involve impersonating individuals, including public figures or acquaintances, to spread misinformation or manipulate others for financial gain. Any potentially manipulated media content, especially in online interactions or social media platforms, can be considered a deepfake scam.


Fake Online Stores:

If you’re buying products from every online portal just because it looks fancy, probably that is the biggest mistake you’re committing. Authentic brands do not sell anywhere and everywhere. This is where the scammers are taking advantage to create counterfeit online storefronts offering enticing discounts to attract unsuspecting shoppers.
To avoid falling victim to fake online stores, individuals should be alert to suspiciously low-priced items, especially on social media platforms.


Banking Scams:

Cybercriminals employ various tactics, including malware attacks, to gain unauthorised access to individuals' bank accounts.
To protect against banking scams, it is essential to avoid accessing sensitive financial information on public Wi-Fi networks and to monitor accounts for unusual activity.


Impersonation Scams:

Scammers may impersonate trusted individuals, such as family members or employers, to manipulate victims into providing financial assistance. This may include smishing, whaling, and clone phishing as some of the various types of fraudulence.
To prevent impersonation scams, individuals should verify the legitimacy of unexpected requests for money or personal information before taking any action.


Online Dating and Romance Scams:

With the rise of online dating culture, romance scammers exploit emotional connections to deceive victims into providing money or personal data.
To avoid falling victim to online dating scams, individuals should exercise caution when interacting with unfamiliar individuals online. Dating site users should also be wary of requests for financial assistance.

Safety Tips

Recognise The Red Flags:

Be alert to indicators of potential scams, such as offers or prizes that seem too good to be true. Be mindful if you come across requests for personal or financial information and unusual payment methods. You should also look for poor grammar or spelling in communications and discrepancies in personal details provided by purported companies or individuals.


Respond to Suspicious Activity:

If you encounter suspicious activity, don’t delay to launch a cyber crime complaint online.
Report it to the most trusted Indian Government authorities, such as the National Cyber Crime Reporting Portal (NCRP). Monitor financial accounts for unauthorised transactions and report any suspicious activity to your bank or relevant financial organisation.


Take Preventative Measures:

To protect yourself from cyber scams, verify the legitimacy of websites before making online purchases. Also, exercise caution when interacting with unknown texts, emails, or advertisements.

Remember to refuse remote access requests from unfamiliar individuals or entities offering technical support services.

Conclusion

Cyber scams pose a significant threat to individuals' financial security and personal information. By being aware of the types of scams prevalent this year and following safety tips as mentioned above - you can minimise your risk of falling victim to online fraud. Nonetheless, investing in a cyber security training course online can further enhance your ability to protect against cyber scams and fraud.