Gagandeep Kaur of Sector 23 was following the recommended “two factor strategy” involving a usual password and a second OTP for a transaction through Paytm but she lost her money by giving out the details of her e-wallet to an unknown caller over the phone. There are hundreds of others who have lost their money to fraudsters after sharing their confidential information to them in good faith.
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Gurcharan Singh, a cyber instructor attached with Central Detective Training School (CTDS) in Sector 36, said, “The social engineering of the cyber fraudsters is so sharp that it is very difficult to avoid them while adopting so many security layers. Be it cases of ATM cloning, online transactions, bank accounts hacking and money withdrawn after obtaining the ATM details of people over the phone, cases of fraudulent withdrawal of money are on rise.”
Singh maintained, “Indeed, the cases of cyber frauds will automatically rise in the wake of introduction of so many e-wallets and the process stressing less cash methods in society. Authorities, including law enforcement agencies and banking sector, need to hold intensive awareness drives pertaining to the use of modern techniques.”
The statistics of Chandigarh cyber cell show that around 150 FIRs related to different fraudulent online transactions have been reported in the last four years between 2012 and 2016. If only consider the complaints, the cyber cell received around 4,000 complaints involving all nature of cyber crimes.