India is currently experiencing a rise in online scams and financial frauds, resulting in many citizens becoming victims of these complex schemes. Disturbing reports have emerged in recent months, revealing that individuals have lost large amounts of money to online fraudsters, sometimes amounting to lakhs or even crores. In response to this growing threat, the Government of India has taken a decisive action by blocking 70 lakh mobile numbers that are allegedly involved in cyber crime or financial fraud.
The measure is in line with the government’s proactive approach to combating fraud, which includes blocking International Mobile Equipment Identity (IMEI) numbers, unique identifiers of mobile devices and prohibiting withdrawals from accounts marked as suspicious. These initiatives are aimed at preventing misuse of such resources in potential future fraudulent activities.
Financial Services Secretary Vivek Joshi recently brought attention to the susceptibility of “dormant” and “mule” bank accounts during a meeting with officials from RBI, TRAI, NPCI, and IT Ministry. These accounts, which have low balances and sudden activity surges, have been identified as potential targets in the ongoing efforts to combat cyber fraud in the financial sector. According to PTI, the meeting also revealed that 7 million mobile connections linked to cyber crimes or financial frauds have been deactivated through the digital intelligence platform. Additional meetings are scheduled, with the next session set for January.
The way to keep your phone number safe:-
To ensure the safety of your phone number and device from potential fraud, it is crucial to stay alert and take necessary precautions. Despite the recent efforts to curb fraudulent SIM numbers, it is still important to be proactive. Here are some vital guidelines to bear in mind:
SIM swapping: It is a fraudulent activity where scammers trick your mobile carrier into transferring your phone number to a new SIM card that they control. They can accomplish this by exploiting security weaknesses in the carrier’s systems or through social engineering. Once they have control of your number, they can reset passwords and gain unauthorized access to your accounts. To safeguard against SIM swapping, it is recommended that you establish a PIN or password with your mobile carrier to verify any SIM card changes.
Phishing links and messages:-It is important to exercise caution when it comes to clicking on links or responding to messages, particularly those that purport to be from your bank, government agencies, or other reputable organizations. Phishing attempts frequently employ misleading messages to deceive people into divulging sensitive information, such as login credentials or personal data. Before taking any action, always confirm the authenticity of messages and avoid transmitting personal information through unsecured channels.
WhatsApp Messages: As messaging apps like WhatsApp become more popular, scammers are finding ways to exploit this platform to deceive users. They may send messages pretending to be someone you know or a reliable source, urging you to click on a link or share confidential information. It’s important to verify the sender’s identity and avoid engaging with suspicious messages. Furthermore, consider enabling two-factor authentication on your messaging apps to enhance your security measures.
Ensure the security of your personal information: Safeguarding your personal information is of utmost importance. Refrain from sharing sensitive details such as passwords or PINs through messages or phone calls. Exercise caution when disclosing information on social media platforms, as fraudsters may exploit publicly accessible data to create convincing phishing schemes.
Regularly monitor your accounts: Maintain a vigilant watch over your bank statements, mobile bills, and other financial accounts. In the event of detecting any dubious activity, promptly notify the relevant service provider. Taking timely action can mitigate potential harm.