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You are under digital arrest! How fake cop scams draining victims’ bank accounts

Economic Times

Economic Times · 9m ago

You are under digital arrest! How fake cop scams draining victims’ bank accounts

Digital arrest scams are on the rise in India, with scammers posing as officials from law enforcement agencies and coercing victims into paying large sums of money to avoid legal trouble. The scams start with a phone call alerting the victim to a parcel containing illegal substances or accusing them of criminal activity. The scammers then video call the victims, level false charges, and order them to stay at home under 'digital arrest'. The victims are instructed not to contact anyone and are then coerced into making online transfers to the scammers. These scams have led to significant financial losses and highlight the need for stricter regulations and awareness among the public.

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A video call, obscure bank accounts, ₹6.5 crore stolen—but who’s to blame?

Livemint

Livemint · 1m ago

A video call, obscure bank accounts, ₹6.5 crore stolen—but who’s to blame?

A surge in digital arrest scams has recently led to significant financial losses, with fraudsters impersonating law enforcement to extort victims. A notable case involves a high-ranking executive losing over ₹6 crore via scam callers. This incident is part of a larger trend of digital fraud in India, with over ₹23 crore stolen. The scams often involve international perpetrators who exploit technological advancements to orchestrate these complex frauds.

Cybercrimes on rise: Tamil Nadu Police warns public; Chennai, Coimbatore, tier-II cities vulnerable

Economic Times

Economic Times · 9m ago

Cybercrimes on rise: Tamil Nadu Police warns public; Chennai, Coimbatore, tier-II cities vulnerable

The Tamil Nadu Police has issued a warning about the increasing number of cybercrimes in the state, particularly in Chennai and Coimbatore. Between January and August 2024, there were 1,679 registered cybercrime cases, with financial fraud being the most common. These scams have led to a loss of about Rs 189 crore. The police have urged the public to be cautious of various scams, such as online share trading fraud and fake job offers. They have also advised victims to report the crimes promptly on the National Cyber Crime Reporting Portal to increase the chances of freezing the scammers' bank accounts.

Upstox Cautions Investors of Impersonation Scams

Inc42 · 1y ago

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Upstox has recently issued a warning to investors about the rising number of impersonation scams using fake social media accounts, apps, and websites. These scams often target customers from Tier II and III cities. In response, the company has launched an awareness campaign to educate its 1.4 crore customers about the risks involved and how to avoid falling victim to such scams. This alert comes in the midst of SEBI's efforts to tighten regulations on unregistered financial influencers and introduce new market measures.

Nithin Kamath sounds alarm over digital arrest frauds in India

Economic Times

Economic Times · 4m ago

Nithin Kamath sounds alarm over digital arrest frauds in India

Zerodha co-founder Nithin Kamath warned about the rise of digital arrest frauds in India, where scammers pose as law enforcement officers to extort money. Victims, often senior citizens, are tricked into thinking they face legal trouble unless they pay up. Scammers use fear and sophisticated tactics, including fake identities and extensive personal information, to deceive their targets, leading to significant financial losses. Kamath advises caution against unknown calls and messages.

Bumble's new AI tool identifies and blocks scam accounts, fake profiles

Startup News FYI

Startup News FYI · 1y ago

Bumble's new AI tool identifies and blocks scam accounts, fake profiles

Bumble has introduced a new AI-powered feature called Deception Detector, aimed at identifying and blocking spam, scams, and fake profiles. The tool successfully blocked 95% of identified spam or scam accounts in testing, leading to a 45% reduction in user reports of such accounts within the first two months. Bumble's internal research showed that fake profiles and the risk of scams are top concerns for users. The tool is part of Bumble's efforts to create a safer online dating experience and builds on previous AI features, such as Private Detector.

AI-generated scams to increase cyber risks in 2024

Economic Times

Economic Times · 1y ago

AI-generated scams to increase cyber risks in 2024

According to cybersecurity firm McAfee, AI-generated scams such as deepfake media will pose a greater risk of identity theft, phishing scams, and cyberbullying in 2024. The technology has the potential to spread misinformation through AI-generated voice, video, and photo scams, impacting victims' lives. This could also lead to increased instances of cyberbullying, with disturbingly realistic fake content targeting children. McAfee also predicts that AI will be used by cybercriminals to manipulate social media and shape public opinion, while charity frauds and Olympic-related scams are also expected to increase.

Bengaluru businessman loses Rs 1.98 crore to FedEX scam

IndianStartupNews

IndianStartupNews · 1y ago

Bengaluru businessman loses Rs 1.98 crore to FedEX scam

In Bengaluru, a businessman lost a whopping Rs 1.98 crore in a scam where individuals impersonated FedEx employees and law enforcement officials. The fraudsters would first inform victims about an intercepted package containing illegal substances and then transfer the call to a fake "cybercrime branch" where victims are falsely implicated in money laundering investigations. The rise of such financial scams in Bengaluru is becoming a growing concern, with many falling victim to online job scams as well. To protect oneself, it is essential to verify packages directly on the official FedEx website and avoid sharing sensitive information with strangers.

Meta says working to thwart WhatsApp scammers - The Economic Times

Economic Times

Economic Times · 16d ago

Meta says working to thwart WhatsApp scammers - The Economic Times

Meta announced it disabled nearly seven million scam-linked WhatsApp accounts in the first half of 2025, particularly focusing on Southeast Asia. The scams often involved fake investments and pyramid schemes. In collaboration with OpenAI, WhatsApp tackled AI-generated scams and introduced new safety features to help users recognize suspicious group chats. Users are now cautioned when added to unfamiliar groups, and "safety overviews" offer guidance on spotting scams and quick exit options.

China raises stakes in cyberscam crackdown in Myanmar, though loopholes remain

Economic Times

Economic Times · 1y ago

China raises stakes in cyberscam crackdown in Myanmar, though loopholes remain

China is intensifying its crackdown on online scams in border areas of Myanmar, aiming to tackle criminal syndicates and their illicit activities. Despite joint operations with neighboring countries that have led to the return of thousands of victims, the crackdown primarily targets lower-level scammers rather than the masterminds behind these operations. Chinese authorities have made arrests and issued arrest warrants for individuals associated with powerful families in Kokang and Wa, which share the border with China. However, it remains unclear to what extent China's efforts will root out these scams and prevent future ones.

Delhi HC directs shutdown of scam impersonating INDmoney and founder

Entrackr

Entrackr · 11d ago

Delhi HC directs shutdown of scam impersonating INDmoney and founder

The Delhi High Court has ordered a sweeping crackdown on an online scam that allegedly impersonated wealth-tech platform INDmoney and its founder, Ashish Kashyap, to defraud investors. In a July 28 order, Justice Manmeet Pritam Singh Arora directed domain registrars, app stores, messaging platforms, banks, and cybercrime units to work together to shut down the operation. The case, filed by INDmoney Tech and its affiliate INDstocks, alleges that since November 2024, a person identified as “Ashok Kumar” used fake identities to lure victims through WhatsApp and Telegram groups, rogue websites, and mobile apps. The accused allegedly promised high returns from block trading, IPO tips, and stock market bets, using forged SEBI certificates and fake documents to appear credible. The fraudulent network involved eight websites, four fake apps, dozens of messaging accounts, and multiple bank accounts. According to INDmoney, the accused also copied its trademarks, logos, and website content to mislead users. Finding a clear case of trademark infringement, passing off, and copyright violation, and noting the actions were causing “irreparable injury”, the court restrained the defendant, its associates, and agents from using the brands or running the infringing platforms. It directed Gname.com, Dominet, and Dynadot to block the domains and share ownership details; Google and Apple to remove the fake apps; WhatsApp and Telegram to block the listed numbers and groups; and over a dozen banks to freeze linked accounts and provide KYC details. The National Cyber Cell and Gurugram Cyber Police were also told to file investigation reports. The next hearing is on September 2 before the Joint Registrar, and on December 17 in court. Following the order, Kashyap posted on LinkedIn, calling it a “strong digital-first stand against online financial fraud” and a key step towards protecting people from sophisticated scams. He urged people to “stay alert, stay informed, stay safe.”

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