SMS frauds are not something of recent times, but now there are new ways of carrying out such scams. This includes pretending to be a reliable source, such as a bank or any other financial institution. It can cause a threat to your account or profile, which may require you to take immediate action.
Other text message scams include sending you fake offers to get your private details. Awareness of these kinds of scams is one step closer to protecting your identity and finances. Read on to know its different types, tips for protection and more.
A fraud text message will always aim to get you to click on any link or provide your personal details. Depending on the context of the message, you may receive many types of fraud messages.
A comment type of fraud is smishing. This word is a combination of SMS and phishing. When a cybercriminal sends you a text message asking for any sensitive information and asking you to click on any link, it falls under this type.
Another type of common fraud is SMS spoofing. In these cases, they will pretend to be a bank, where you have an account or any financial institution telling you to complete the registration process. They may also present you with pre-approved offers or prizes.
Also Read: Loan Fraud And How To Avoid
Smartphones often come with a spam detection option that identifies such text message scams. You can also opt for a feature that turns off notifications from unknown numbers. Here are some other tips to detect any fraudulent SMS.
Also Read: Fake Loan Apps
Keeping these points in mind helps you distinguish text message scams from authentic SMS from banks or any valid platforms. Furthermore, you can report fraud SMS on time to avoid substantial loss.
Here are a few useful tips to prevent falling prey to such scams or avoid large financial losses.
In case you receive any such SMS, you can report it to the Chakshu portal. This is a government facility to protect you against any fraudulent communication through calls, SMS or WhatsApp. In case you or anyone you know has fallen for such scams; you must report it to the cybercrime department.
You can call the crime helpline number 1930 to report fraud SMS in India. Alternatively, you can visit https://www.cybercrime.gov.in.
By knowing these tips, avoiding SMS frauds or any fake calls is easy. It is also important that you only share your information on reliable platforms, especially when you are applying for a financial product.
Fibe is a reliable platform with ISO/IEC 27001 Certification and PCI DSS App-based journey that protects all your data when you apply. Opting for the Fibe Instant Cash Loan allows you to get a maximum loan amount of up to ₹5 lakhs for your umpteen requirements. You can comfortably pay this loan over a tenure of 36 months.
We also have competitive interest rates, a streamlined digital application process and minimum paperwork involved. What’s more, you can close your loan before the tenure without paying any penalty charges. Simply download our Personal Loan App or visit our website to apply now!
The best way to protect yourself is to ignore such texts and report them on the Chakshu portal.
To block all telemarketing calls, you can send an SMS with the text ‘FULLY BLOCK’ and send it to 1909. This works for all network providers.
There is no way for you to remove your number from the list of telemarketers. However, opting for DND or blocking these calls works best.
If you think any SMS is phishing, you can report it on the Chakshu portal.
