In the age of digitalization, cybercrime has become a growing concern, with new forms of fraud emerging regularly. Recently, the Government issued an advisory to raise awareness about a particular type of fraud involving video likes and crypto payments. This article will provide a step-by-step overview of the fraud scheme and share important tips to avoid falling victim to such scams.
The Fraud Scheme:
The cyber thugs perpetrating this fraud follow a three-stage process to deceive their victims:
First Stage:
The fraudsters initiate the scam by sending messages to random numbers through WhatsApp and Telegram. They ask recipients to like specific videos on YouTube, offering a payment of Rs 50 for each like. Once the victim complies, they are requested to send a screenshot of their video choice. The fraudsters then ask for the victim's UPI ID to process the payment, initially providing Rs 150 to Rs 200 as a token of credibility.
Second Stage:
In this stage, the victim is lured into joining a Telegram group and meeting a manager who promises greater earning potential. The victim is enticed with the opportunity to make more money by involving others in the group. The fraudsters offer a fixed commission for each two to three people the victim recruits. To build trust, the suspect pays the victim a sum ranging from five to ten thousand.
Third Stage:
At this point, the fraudsters share their UPI ID or crypto wallet address with the victim and convince them to invest large sums of money, often in the range of lakhs (hundreds of thousands). The victim is led to believe that they need to accumulate a certain number of credit points to be eligible for withdrawal. Driven by greed, the victim invests the requested amount, only to be swindled by the fraudsters.
Tips to Avoid Falling Victim:
To protect yourself from such fraud schemes, it is crucial to follow these important guidelines:
Report and Block:
If you receive investment offers from unknown numbers on social media platforms, promptly report and block those accounts to prevent further communication.
Transactional Internet Activity:
Avoid sharing screenshots or details of your transactional internet activity with anyone, as this information can be exploited by criminals.
Investment Scam Awareness:
Be cautious of any investment scams involving project managers, teachers, or trainers. Verify the authenticity of such schemes through physical verification, and never trust screenshots or messages sent by potential scammers.
Internet Call-Based Schemes:
Exercise caution when approached with investment schemes through internet calls. Always conduct thorough research and seek professional advice before making any financial commitments.
Conclusion:
With the rise of digital fraud, it is crucial to remain vigilant and informed about the various tactics employed by cybercriminals. The Government advisory serves as a reminder to be cautious when engaging with unknown individuals or investment opportunities on social media platforms. By following the outlined steps and staying informed, individuals can protect themselves from falling victim to these fraudulent schemes.
