“Fraudulent Transactions via Online or Phone”

“Fraudulent Transactions via Online or Phone”


We are moving towards Digital India, the cases of “Fraudulent Transactions via Online or Phone” are also increasing rapidly, going digital has many advantages as well as some disadvantages. With the rise in digital transactions, there has also been a rise in financial fraud. As the ease of doing online transactions progressed, the number of frauds in digital financial transactions soared too. Fraudsters are using increasingly innovative methods to swindle people.



Fraudulent Transactions via online or phone with Internet access to swindle or retrieving personal information without your authorization is known as Internet fraud. The fraud involves using social engineering or computer intrusion tactics to compromise legitimate company e-mail accounts in order to make unlawful financial transactions



  • Foreign Exchange Currency (Forex) Fraud Transactions

Forex scams attract investors with sounding offers placed through advertisements or on Internet sites. Be smart about the investment and make sure that you understand these products and above all.  Investment made through only reputable dealer.

  • Tax related fraud
  • During the payment of tax, taxpayers are asked to reply to SMSs and Whatsapp messages sent by fraudsters where they ask for bank details and other sensitive information so that you can get a big tax refund.

    • Credit card frauds

    Credit cards are a powerful payment instrument as they allow you to easily making transactions, while there are several types of credit card frauds like small skimming devices are attached to normal Point-of-Sale (PoS) devices to hack your data, ATM card slots to clone card information, while a camera is secretly placed over the keypad to capture your PIN, details of card entered in fake links and websites, Treat your card like any other valuable items or cash in your wallet.

  • Online Employment Scams

If you apply or register online for what you think is a job opportunity and you post your resume on an employment website (LinkedIn, Facebook, Indeed, or Career Builder) or scammer creates a job posting on one of these websites. They will ask for information, some of which is not unusual.

  • Incomplete KYC Fraud

In recent years, technology-related frauds (frauds perpetrated over / at an internet banking channel, ATMs, and other payment channels such as credit/debit/prepaid cards) have accounted for the bulk of recorded fraud instances.

  • Fraud during Coronavirus disease

During the covid-19 and second wave of covid peoples have been hit or lost some loved ones. They need for immediate medical equipment, care and medicines lead people to believe anything that promised to deliver of Medical equipment’s and medicines. They would ask for advance payment by digital payment and disappear. Many Indians fell prey to this fraud and ended up losing money.

  • Pharming related fraud

Pharming has become of major concern to businesses hosting ecommerce and online websites. This websites & there links are may be illegal or unethical internet pharmacies. The web page for an illegal pharmacy may contain lies about its home country, procedures, or certifications.

  • Work from home and employment related Froude

A lot of youngsters are now looking for flexible jobs and Fraudsters promise individuals an online job opportunity and high salaries just for working a few hours a day or completing tasks in a given time. As a job provider, you will be asked to register online by paying a fee to avail the opportunity and receive the ‘job kit’. After the money is deposited, these fraudsters disappear.


  • Frauds while making payments via Unified Payment Interface (UPI)

Various types of frauds take place on the UPI platform like fake UPI IDs making fake bank URLs, downloading remote screen mirroring tools, fraudsters create a website that looks like an existing genuine website of a bank, e-commerce website or search engine. Many tricksters create such handles to make you reveal your account details through a fake UPI app.

  • Concerts, Shows, and Sports Events online ticket fraud

Fraudsters marketing fraud offers tickets to sought-after events such as concerts, shows, and sports events. The tickets are fake and never delivered.

  • Online purchasing fraud

The methods these fraudsters use are they will give these fake products very low prices, they will want to make payments through electronic fund transfers, and they will want to do it right away and after payment goods or services never arrive.

  • Love and affection fraud

A romance scam is a confidence trick involving feigning romantic intentions towards a victim, gaining their affection and fraudulent acts may involve access to the victim’s money, bank accounts, credit cards, passports, e-mail accounts and commit financial fraud.


Fraudulent Transactions is a serious issue that can result in severe financial damage for both individuals and businesses. To protect the safety of oneself and the company, it is critical to observe basic online standards. Reduction fraudulent transactions via online or phone is  only possible  when user  will be  much more  aware of  the aspects  of fraudulent transactions and  when they  enrich their  knowledge  towards a  reduction in fraudulent transactions via online or phone.

For any clarifications/suggestions or any queries please write drop a comment or write to us at info@sigmalegal.in



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