Don't get cheated by online fraudsters: Here's how to protect yourself - The Economic Times
Bangalore is a great city to do some budget shopping on Sundays. Chickpet is one of the oldest shopping areas in Bangalore with a history dating back In addition to book stores, luggage stores, clothes and shoe shops. If you befriend someone on a dating site and the person starts . basic information from any forms you have filled in any of the offline shops. I Got Emi In Sep In Bangalore Colours They Told 8 Months EMI The Amount is Now Also They Take Amount In My Account Please Call Me
The popularity of social media like Facebook, micro-blogging sites like Twitter, dating sites, online consumer compaint forums, charity and crowdfunding sites have spawned a fresh set of scamsters that preys on the personal information posted unwittingly by members. Modus operandi There are various online shopping sites that require you to log in through Facebook or mail and this can be an easy entry point for fraudsters, who can misuse your bank details, phone numbers or mail login and password to clean out your account.
Be careful what information you volunteer on such sites. Despite the noble sentiment involved, be wary about giving money without verifying the claims of the backers. On 26 Februaryan Indian American, Manisha Nagrani, was arrested in the US for raising thousands of dollars via crowdfunding to help cover the cost of treating her blood cancer.
She had been perfectly healthy all along. If you befriend someone on a dating site and the person starts demanding money for travelling to meet you or other emergencies, medical or otherwise, know it to be a fraud.
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Preventive steps You may not be able to seek redressal or have legal rights to claim the money lost because you either volunteered the money or information yourself. So the best you can do is avoid these. According to the RBI, incidents of bankrelated fraud, including cards, ATMs and Net banking, have risen from 8, in to 11, in But the sheer volume of online and offline transactions makes it a fecund ground for fraud.
It is this theft that is carried out in a variety of ingenious ways by scamsters. During e-shopping or bill payment, if you do not choose a safe site or payment channel, it is easy to steal your card information by intercepting the data. You can be routed to a fake site or the data can be copied through keystroke logging. Pharming ensures that the fraudster has your bank account or credit card number and CVV, which can be used for online transactions.
Malware or virus can also be introduced in your computer which provides access to all the details stored in your e-mail. If you have saved your passwords and login details, these can be easily stolen. This is a relatively new technique, wherein the scamster contacts the mobile operator with fake identity proof and gets a duplicate SIM card.
Your original SIM is deactivated by the operator. The fraudster generates one time password OTPwhich appears on his phone, and he carries out online transactions.
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Fake calls and mails: Hyderabad-based Bharat Naidu see picture knew better. Frustrated after a few attempts to get the details, the caller gave up. A month later he got a similar call. At that point he called up the bank and asked them to replace the card. You should also be suspicious of any mails that ask you to give sensitive information. There are some apps that seek access to the data on your phone.
Ensure that the app is safe because it is an easy way for fraudsters to seek critical information stored on your phone. Public terminals or Wi-Fi: If you use laptops in public areas or conduct mobile transactions over public Wi-Fi, it can be intercepted and your card details stolen.
This is another hot spot for fraudsters to gain access to your card data and PIN. Scamsters use hidden cameras and skimmers to gain information see Are you likely to be conned?
He believes that the three men in the booth at the time had rigged the ATM and taken the cash. Preventive steps Be alert, install protective features on your phone and computer, and educate yourself. Here are some steps you can take to avoid fraud: Register for SMS and e-mail alerts: Also, if your mobile stops working for unusual reasons, check with your mobile operator.
Also, while transacting on websites, use a virtual keyboard to avoid keystroke logging and while using an ATM, cover the keypad with your hand. Many websites ask to save credit card details for future purchases. Neither should you do it on any server, desktop, or mobile to avoid skimming and other frauds.
The moment you fear your credit card or bank account details have been compromised or a fraudulent transaction has taken place, call the bank and have the card blocked. Follow it up with a written complaint and declaration. All it takes is confidence and smooth-talking on the part of the fraudster. Besides vishing and other attempts to snare credit card information over the phone, there are other ploys to not only draw out sensitive information, but also make you pay money.
This happens not only via phone but also mails. The Nigerian advance fee and lottery scams have given way to new excuses to steal your money, almost all of them demanding some sort of payment for bigger rewards.
Modus operandi Insurance plans: If you get a call or mail, saying some of your forgotten policies are due for maturity and that you need to pay some money to secure this amount, know it to be a fraud. This will typically entail an enticing job offer that requires you to first pay some fees and charges to be able to entitle you for the job. You are asked to deposit the money in a bank account and will never hear from the caller again. Free gifts and loans: This scam involves securing basic information from any forms you have filled in any of the offline shops.
The powerlooms are throwing us out of business. As Manipal Dalai, a leading agent, points out, "Powerlooms can easily bend to fast changing demands and fashions. Labour was available for the asking as unemployed textile workers and technicians signed up. The mills themselves subcontracted their orders to the power-looms, and then marketed the cloth under their own names.
This helped cross a major confidence chasm, because the powerlooms could now claim legitimately that their cloth was as good as that produced by the mills. Shah, who runs over powerlooms in Ahmedabad: This is partly because of crucial technological changes.
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While the majority of integrated textile mills have failed to modernise and invest in the latest machinery, many powerloom operators have done just that, and have gone in for costly and sophisticated shuttleless looms. Datta, branch manager of Mafatlal Engineering Industries, which manufactures textile machinery: It is ironic, but the textile mills have little money to buy the same machines.
Jain, an industrial consultant who has conducted a study on the subject, estimates that the rapid growth of powerlooms has rendered 14 lakh handlooms idle - and cost almost three million jobs as a result. Clearly, of the three major sectors of the cotton textile industry - composite mills, powerlooms and handlooms - only powerlooms are prospering and eating up the other two sectors' share.
The wise guys in the industry and trade have read the writing on the wall; and numerous textile magnates as well as wholesalers and cloth merchants have jumped on to the bandwagon. A round of the Maskati cloth market in Ahmedabad confirms the trend, and numerous merchants who have gone into powerloom operations now sell their own cloth - thus eliminating one step in the marketing chain and contributing further to cost advantage.
The advent of the powerlooms has also been helped by the fact that brand names do not hold sway in the same way as they did earlier. Across the industry now, millowners speak in tones of depression and gloom.
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Prafulbhai Anubhai, managing director of Rustom Mills, warns that "at the rate at which powerlooms are flourishing, composite mills will not be able to survive". And Mrugesh Harivallabhdas, another leading magnate, says: For the organised mills, the sunny days are over.
Nevertheless, efforts are being made to even the scales by appealing to the Government for help. After all it is minimal, and they earn more than some textile mills" In fact, numerous mills have resorted to cutting corners, liberally indulging in faulty stampings, indicating wrong percentages of cotton-synthetic blends, in order to get away with a lower tax.
Many mills have set up their own powerloom and processing units, and others give out yarn and take back processed cloth. Dalal, commercial director of the Gujarat unit of the NTC, is in no doubt of the future trend. Soon independent units separately conducting the operations of spinning, weaving and processing will take over as only they will be financially viable. Rajagopal, spinning master in a composite mill, agrees: