How to Identify and Avoid Social Media Frauds

Social media has become an integral part of our lives. We use it to stay connected with friends and family, share our thoughts and experiences, and get news and information. However, this convenience has also made it a target for fraudsters.

There are a number of different types of social media frauds, but some of the most common include:

• Fake customer care numbers: Fraudsters often populate fake customer care numbers of banks and UPI platforms on social media platforms. These numbers look like the real ones, but they are actually controlled by the fraudsters. When you call these numbers, the fraudsters will pose as official representatives and try to extract sensitive information from you, such as your bank account number or UPI PIN.
• Fake bank websites: Fraudsters also create fake bank websites that look like the real ones. These websites often contain links that, when clicked, will install malware on your computer or phone. Once the malware is installed, the fraudsters can steal your personal information or gain access to your bank account.
• Fake UPI apps: Fraudsters also create fake UPI apps that look like the real ones. These apps often contain malicious code that can steal your UPI PIN or other personal information.
• Impersonation: Fraudsters may create an impersonated profile of an individual without their knowledge by using acquired personal information. The impersonator then acts on behalf of the original user, gaining trust of their social connects for their malicious intent. This could involve extorting sensitive personal/business information, money, disrepute the owner or even commit crimes on behalf of the original user.

Here are some tips for identifying and avoiding social media frauds:

• Do not trust everything you see on social media. If you see a post or message that seems too good to be true, it probably is.
• Be suspicious of any messages that ask for your personal information. Legitimate companies will never ask for your personal information over social media.
• Only follow official accounts. When you follow a company or organization on social media, make sure that the account is verified. You can usually tell if an account is verified by the blue checkmark that appears next to the name.
• Be careful about what links you click on. If you click on a link in a social media message, make sure that the link goes to the website you expect it to go to.
• Keep your software up to date. Software updates often include security patches that can help to protect you from fraudsters.
• Use a strong password manager to create and store strong passwords for all of your online accounts.
• Be vigilant and watchful of any suspicious activity that you encounter related to your profile. If you see something that doesn't look right, report it immediately.

Here are some recent social media fraud incidents that have been reported in Indian news:

• In January 2023, a fake customer care number of the State Bank of India was circulated on social media. The fraudsters posing as SBI customer care representatives tricked victims into sharing their personal information, such as their bank account number and UPI PIN.
• In February 2023, a fake UPI app was uploaded on the Google Play Store. The app looked like the real UPI app, but it was actually controlled by fraudsters. When users installed the app, the fraudsters were able to steal their UPI PINs and other personal information.
• In March 2023, a fraudster created an impersonated profile of an Indian cricketer on Twitter. The fraudster then used the profile to tweet about a fake giveaway. When users responded to the tweet, the fraudster asked them to share their personal information in order to claim the prize.

These are just a few examples of the many social media frauds that have been reported in India in recent years. It is important to be aware of the threat of social media frauds and to take steps to protect yourself. By following the tips above, you can help to keep your personal information and money safe from fraudsters.