Independent Research and Policy Advocacy

Digital Deception: Navigating the maze of social engineering frauds in the age of instant transactions

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Abstract

In recent times, fraudulent messages have become alarmingly prevalent, victimising unsuspecting customers who fall prey to their deceptive tactics. A prime example of this disturbing trend involves a woman from Gurugram who, upon receiving an SMS about the immediate closure of her bank account, purportedly from her bank, followed the instructions provided in the SMS to prevent the closure. Tragically, she became a victim of fraud, losing a substantial sum of Rs 1 lakh with little hope of recovering her money.

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