🚨
Recognize scams
Be cautious of guaranteed returns, urgent payment requests, fake support numbers and unsolicited investment tips.
1. Spot Investment Scams
Key concept
Scams may promise guaranteed high returns, urgent limited-time opportunities or secret strategies. Fraudsters may use fake testimonials, impersonate well-known brands or show fabricated profits. Common warning signs include guaranteed or unusually high returns, pressure to act immediately, secret strategies, requests to transfer money to personal accounts and demands for extra fees to release a reward. Scammers can use convincing logos, fabricated profit screenshots and testimonials. Verify the organisation and offer independently using official channels rather than relying on links or claims sent by the promoter.
Example: A stranger promising to double money in days is a warning sign, even if the website looks professional or a friend shared it.
Practical checklist
Verify registration and details through official regulator or company channels. Never transfer money based only on screenshots, social-media claims or pressure.
2. Protect OTPs, PINs and Passwords
Key concept
OTP, UPI PIN, card PIN and passwords are private credentials. Genuine support staff should not need you to disclose them. Scammers may pose as bank staff, delivery agents or customer care. An OTP, UPI PIN, card PIN, password and recovery code can give someone access to accounts or approve transactions. Treat them as confidential even if the caller knows your name or partial account details. If you have shared a credential, contact the institution using a trusted official channel, change affected passwords and check recent activity promptly.
Example: If a caller asks you to install a remote-access app and share an OTP to stop an account block, end the call and contact the institution independently.
Practical checklist
Use unique passwords, enable available multi-factor authentication, secure your SIM and device, and never share remote access.
3. Fake Links and Impersonation
Key concept
Phishing uses fake websites, messages or emails to steal credentials or money. Lookalike domains and sponsored search results can imitate legitimate services. Phishing messages often create urgency by threatening account closure, KYC expiry, missed refunds or blocked payments. Check the complete domain carefully because a small spelling difference can lead to a fake page. Avoid unexpected attachments and shortened links; open the official app or type the known address yourself, and do not rely only on caller ID or a familiar-looking logo.
Example: A message claiming your KYC expires today may lead to a fake login page. Open the official app or type the known official address yourself instead.
Practical checklist
Check the full domain, avoid unknown attachments and do not trust caller ID alone. Report suspicious messages using official channels.
4. UPI and QR-Code Safety
Key concept
A QR code can initiate a payment. Scanning a code or approving a collect request should never be done without understanding the transaction. A PIN authorises a payment, not receipt of money. Before paying, check the payee name, amount and reason shown in your own payment app. A QR code or collect request can be used to ask you to send money, and entering a PIN authorises the payment. Do not scan a code or approve a request just to receive a refund, prize or sale proceeds; verify unexpected requests independently.
Example: If a buyer asks you to scan a QR code and enter your PIN to receive sale proceeds, do not proceed. Verify the payment in your own bank app.
Practical checklist
Check recipient name and amount, reject unexpected collect requests and never share your screen during a payment.
5. Broker and Demat Account Security
Key concept
Use the broker’s official website or app and check account alerts, statements and transaction confirmations. Fraudsters may impersonate brokers or offer help with account activation. Use only the broker’s official app or website and check transaction alerts, holdings, statements and contract notes regularly. No genuine support representative should need your password, OTP or unrestricted remote access to resolve a routine issue. For account activation, KYC or referral questions, start a support request through the verified official channel.
Example: Do not give remote access to a person claiming they can complete KYC or unlock a referral reward. Contact support through the official app.
Practical checklist
Enable security features, review holdings and transactions, protect account recovery details and report suspicious activity quickly.
6. What to Do After Suspected Fraud
Key concept
Act quickly if money or credentials may be compromised. Contact your bank or payment provider through official channels, block affected access where appropriate and preserve transaction details and communications. Speed matters when funds or credentials may be compromised. Contact your bank or payment provider immediately through official channels, preserve transaction IDs and messages, and follow their instructions to secure accounts. In India, suspected cyber financial fraud can be reported promptly through helpline 1930 and the official cybercrime reporting portal; beware of people demanding fees to recover money.
Example: In India, suspected cyber financial fraud can be reported promptly through the national cybercrime helpline 1930 and the official cybercrime reporting portal.
Practical checklist
Do not pay a recovery agent who guarantees funds back. Keep complaint numbers and follow instructions from your bank and authorities.
7. Verify Financial Products and Advisers
Key concept
Before using a financial service, check the entity, product terms, charges, risks and regulatory status using official sources. Registration or a professional-looking website does not make every claim safe. Check the provider, product name, charges, exclusions, risks and regulatory status using official regulator or company sources. Registration does not mean every product is suitable or every claim is true. Read the documents, understand how the service is paid for and avoid making decisions solely on advertisements, influencer posts or pressure from a salesperson.
Example: Compare the product name and provider details on the official regulator or provider website instead of trusting an advertisement alone.
Practical checklist
Avoid sharing identity documents with unverified contacts and read privacy and consent notices before submitting information.
8. Privacy and Identity Protection
Key concept
Personal information such as PAN, Aadhaar details, bank statements and account credentials can be misused if shared carelessly. Provide only what is needed through a verified, secure channel. Identity documents and financial statements may contain details that can be misused for impersonation or unauthorised applications. Share only information that is genuinely required, through a verified secure channel, and understand why it is being collected. Use device locks, updates and appropriate privacy settings; monitor account alerts and report suspected misuse quickly.
Example: If an unknown person asks for a full bank statement and ID documents over chat to release a reward, verify why they need it before sharing anything.
Practical checklist
Use device locks, keep software updated, restrict app permissions and monitor account alerts. Mask documents when a full number is not required.
Remember: Use this material to build understanding, verify important information with official sources, and consider your own circumstances. This content is for general education only—not personal financial advice or a recommendation to buy or sell any financial product. Markets and financial products involve risk.