Dear Investors
We have recently experienced fraud calls coming from people identifying themselves as bank officers asking for your debit card details. All banks always advise not to entertain any call or email asking for personal or banking details.
There is one more method being used to do frauds with innocent people using emails. These emails are called phishing emails.
I would like to share an incident recently happened with one of my friend.
He received an email from “donotreply221@incometaxindia.gov.in”.
Dear taxpayer,
We regret to inform you that your tax refund of Rs 30,280.90 has been placed on hold as your security question on file with us could not be verified by your financial institution.
Beneficiary information:
Bank Name: State Bank of India
Card No: 659332*************
Kindly follow the link below to authenticate your identity and thus complete your refund.
Click here to complete request
IncomeTax Department
Ministry of Finance,
Government of India.
The guy was very happy that he will get some money without any effort. He clicked on the link as advised in the email and followed the procedure. He filled all the banking and debit card related information and finally received a Thank You massage on the screen that “You will refund will be processed within 7 days”.
On the very next day he got an SMS from his bank that an amount of 25000/- has been deducted from his bank account against online payment on some website.
Actually, he was trapped in an online fraud.
I asked him why didn’t he realized that it may a fraud email. You won’t believe the answer I got.
The six digit mentioned in the email sent to him was the first six digits of his own debit card. How can anyone else know the numbers of his debit card?
When he clicked on the link, it redirected him to a page which was almost same as his own bank’s login page.
Friends, please do not respond to any such email. There are number of ways you can identify any fraud email.
* The email address was donotreply221@incometaxindia.gov.in. Normally corporate or organisation do not use numbers in their public email addresses.
* When you will click on the link, it will redirect you a page similar to the bank login page. But the url will be different from the original bank website.
* When you will try to login with a incorrect id password, the website will not give you any error. It will just redirect you to the further questions.
Remember the most important thing, for any concern related to bank you should visit your bank. Do not try everything online.
I discussed this incident with you, because very few people know about these kinds of frauds.
May be as a financially aware person I couldn’t help him because he didn’t discussed it with me before going to this. But I know I have saved few people after sharing this experience with you.
It is yearend now and salaried people will see some tax deduction in their salaries. You will also be asked to submit your investment proof in this month. This is the time when most of the insurance advisers will ask you to buy their products and many of you will blindly buy something from them.
Please do not invest in any financial instrument without consulting a financial adviser. There is thousands of tax saving product available. You should buy only which you need to fulfill your financial goals.
I am not saying that insurance advisers are fraud or they will cheat you. All I want to say is buy something which suits your need and your goal.
Disclaimer: The views expressed in the blog are those of the authors and do not necessarily reflect the official policy or position of any other agency, organization, employer or company.
Insurance is the subject matter of solicitation. Mutual Funds investments are subject to market risks. Please read the offer documents carefully before investing.
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