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Fraud Awareness
Top 5 scams seniors fall for (and how to avoid them)
Around 65,893 cybercrimes were registered between 2018-2022. This number has only risen since then and every year, thousands of Indian unwittingly fall prey to different scams, including senior citizens. Cybercriminals don’t discriminate and are known to commit fraud against the elderly, but the truth is anyone can fall prey to their tactics.
Here are the top 5 senior citizen scams to look out for:
Lottery scams
It starts with a call, message, or email claiming you have won a lottery or a prize. To claim it, you are asked to share your bank details or pay a processing fee. This is a scam! Remember, you cannot win a contest if you haven’t entered one!
Impersonation scams
Fraudsters make phone calls or send emails claiming to be from some government department such as the police, Income Tax Department, customs, or even the CBI. A false sense of emergency is created, and a payment is demanded as a fine or tax.
Fake tech support scams
You might receive a call from someone pretending to be from a tech company warning your phone or computer is compromised or has a virus. They insist on installing some software or an app. Once you do this, they take complete control of your device to steal your data or money.
Family emergency scams
These scams involve emotional manipulation where the fraudster pretends to be a relative who is in grave trouble and asks for money.
Robo-calls and fake phone calls
Calls from fake customer care numbers or automated calls are on the rise. Scammers pretending to be from authorities you trust, such as your bank or telecom provider, call asking for OTPs or passwords
Tips to stay safe from these:
- Verify the caller’s identity and claims before entertaining a phone call.
- Do not share any personal or sensitive information, such as OTPs or PINs, with anyone.
- Avoid clicking on any suspicious links, especially from unknown senders.
- Stay calm, and don’t panic even if someone pushes you to act fast.
- Only use official websites and apps to make online purchases.
- Protect your online accounts using anti-virus software, multi-factor authentication, and strong passwords.
- If you notice any suspicious calls, emails, or messages, report them immediately and block the sender.
If you or someone you know has been scammed, do this:
- Call the cybercrime helpline at 1930 and register your complaint.
- File a report with the local police department.
- Contact the nearest cybercrime cell to report the fraud.
- Contact your bank and secure your accounts and cards.
Scams can happen to anyone but sometimes are elderly are more susceptible to these frauds. The best thing you can do is stay alert and ensure your elderly family members are aware of these senior citizen frauds and don’t fall for them.
Disclaimer: This article is for information purpose only. The views expressed in this article are personal and do not necessarily constitute the views of Axis Bank Ltd. and its employees. Axis Bank Ltd. and/or the author shall not be responsible for any direct / indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information. Please consult your financial advisor before making any financial decision.
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