You are wrong if you think hacking is the only way of scamming an individual! There are many ways one can get trapped in fraudulent activities. Here are some of the examples;
1. Skimming
In this type of scam, your credit card details are stolen with the help of a device called a skimmer. When your card gets swiped through a skimmer, it stores all the data from your card. This information can then be duplicated on another card.
Thus, scammers use your credit card information to make monetary transactions. So, the next time you use credit cards, ensure you do not swipe through any machine that looks suspicious. You can also use chip-based credit cards; these are much more secure than those with a magnetic strip.
2. Dumpster Diving
Quite often, people casually discard bills or documents which contain their credit card details. Anyone can collect them to retrieve their bank details and use them for scamming. This process is known as dumpster diving.
Hackers can use such documents with sensitive information for malpractices. Therefore, the next time you have any such documents to discard, either shred them or scratch those details. Following certain precautionary steps can prevent you from getting trapped in such types of credit card scams in India.
3. Phishing
Phishing involves persuasion. Suppose you receive an email that looks convincing as it is from a well-known bank or financial organisation. Your general reaction would be to click and check what it is about. Once you click on the link, it will redirect to a strange website where you are asked to put your personal information.
Most people fall into these traps. You must always remember banks do not generally send emails requesting your details. If you ever receive any such email or SMS, make sure to inform your credit card issuer so that you do not get into the trap. In addition, you must be very observant while replying to any such email or SMS.
4. Keystroke Capturing
Hackers mostly use keystroke logging through certain software to find your credit card details. This can happen if you click on a link redirecting you to download malware, and you unknowingly do that. If any such software gets installed in your system, it will record every key that you press. Hence your ids and passwords are recorded as well.
To avoid any such situation, make sure not to click on any suspicious links. You can also use a virtual keyboard while feeding personal information like passwords and id details. Lastly, you must have reliable antivirus software to protect your system.
5. SIM Swap
Cybercriminals can call any mobile operator and pretend to be a credit card holder requesting a duplicate SIM card. In addition, they would ask the operator to deactivate the original cardholder’s number. So, now the scammer can create new IDs, receive OTPs and execute online transactions.
If you ever receive a warning regarding a duplicate sim request or feel your number has been blocked. Immediately inform your mobile service operator and report about this. If you remain cautious and let the service provider know at the time, you will be able to prevent such scams.
6. Application Fraud
When identity theft happens, someone tries to impersonate you by using stolen documents to get a credit card under your name. If any criminal successfully completes this task, he will have a valid card to perform all kinds of monetary scams.
To avoid this kind of situation, you must keep track of whenever your IDs and other documents are used. In addition, if you have multiple copies of the same document and want to discard them, shred them before dumping them.
7. Hacking
One of the most common types of credit card fraud in India must be hacking. It is probably the oldest method of performing fraudulent activities. With the advancement of technology, hackers are also developing their skills. They can hack any of your devices and steal all your personal information.
Similarly, hackers can steal data from those firms with whom you have performed transactions. Thus, they can breach data for scams.
Although it is unpredictable to notice when you are hacked, so you need to be very careful while performing online transactions. If any website seems suspicious, do not provide your details. You also must not click on every link you get. These hackers can break into your online space and get the required data for conducting scams.