How To Protect Yourself From Online Fraud? | Who Can Digitally Arrest You? | Akash Banerjee & Rishi

Summary

The video highlights the alarming rise of cybercrime in India, with 740,000 complaints and significant financial losses reported in early 2024. Fraud schemes such as UPI scams, sextortion, and AI-driven cons have become prevalent, targeting unsuspecting victims across demographics. Notable examples, including the 'digital arrest' scam, demonstrate the cunning tactics employed by criminals. While the government is taking steps to combat these crimes, such as launching a cybercrime reporting portal, public awareness and proactive measures are crucial. The video urges viewers to stay informed and vigilant to protect themselves and their families from digital fraud.

Takeaways

• 😀 Cybercrime complaints in India have surged to 740,000 in the first four months of 2024, indicating a significant rise in online fraud.
• 💰 Approximately 18,000 crore INR has been lost to various scams, including investment fraud and extortion, highlighting the financial impact of cybercrime.
• 📈 Daily complaints of cybercrime have increased by 113% compared to 2021-2023, with financial fraud accounting for 85% of cases.
• 🔒 The concept of 'digital arrest' is a new scam tactic where victims are tricked into believing they are under legal investigation, often leading to substantial financial losses.
• 😨 High-profile individuals, including businessmen and retired officials, have fallen victim to cyber fraud, demonstrating that no one is immune to these scams.
• 🧑‍⚕️ A survey indicated that 47% of urban households experienced at least one financial fraud in the last three years, showcasing the widespread nature of the issue.
• 🚨 The Indian government is attempting to combat cybercrime by launching initiatives like an online suspect registry to track cybercriminals.
• 📱 Common scams include UPI fraud, sextortion, Telegram fraud, and AI-driven scams that manipulate victims emotionally to extract money.
• 🛡️ Individuals are encouraged to report cybercrime immediately through official channels to improve the chances of recovering lost funds.
• 🔍 Preventative measures, such as using two-factor authentication, monitoring bank statements, and avoiding unsolicited links, are crucial for safeguarding against cyber fraud.

Q & A

What was the total number of cybercrime complaints registered in India in the first four months of 2024?

In the first four months of 2024, 740,000 cybercrime complaints were registered in India.

How much money was reported looted from various scams between January and April 2024?

Around 1800 crores were looted from investment scams, extortion, digital arrests, and other frauds during this period.

What percentage of online fraud cases are primarily financial?

85% of online fraud cases are primarily financial.

What is 'digital arrest' and how do fraudsters use it?

'Digital arrest' is a cybercrime where fraudsters pretend to be law enforcement agencies and video call victims, claiming they are under investigation. They coerce victims into transferring money to settle false charges.

What are some common scams mentioned in the transcript?

The transcript mentions several scams, including UPI scams, sextortion, Telegram fraud, AI impersonation scams, link-based cheating, and OTP scams.

How can victims protect themselves from online scams?

Victims can protect themselves by being cautious with unknown messages, avoiding unsolicited links, regularly scanning bank statements, enabling two-factor authentication, and being aware of the latest fraud tactics.

What has been the increase in financial fraud cases over the last five years?

Financial fraud has increased by 1000% in the last five years.

How many cases of cyber fraud were detected in Indian banks between 2014 and 2023?

65,000 fraud cases were detected in Indian banks between 2014 and 2023.

What steps has the Indian government taken to combat cybercrime?

The Indian government has launched an online suspect registry, improved the National Cybercrime Reporting Portal, and returned defrauded money to victims through the Indian Cybercrime Coordination Center.

What is the significance of the 2FA (two-factor authentication) in preventing fraud?

Two-factor authentication (2FA) adds an extra layer of security by requiring a second form of verification, such as an OTP, making it more difficult for fraudsters to access sensitive information or accounts.