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In Summary
Financial fraud almost always relies on the same handful of tricks, urgency, a request for your OTP or PIN, or a promise that sounds too good to be true, so recognising the pattern matters more than memorising every specific scam type.
- No genuine institution ever needs your OTP or PIN. If anyone asks for these, over a call, message, or email, that alone is enough to know it's a scam, regardless of how convincing the rest of the story sounds.
- An upfront fee is the clearest red flag of all. A real loan, refund, or prize never requires you to pay something first to receive it.
- Reporting to Bajaj Finance isn't the same as reporting the fraud itself. If your bank account or card is affected, you still need to contact your bank and use the National Cyber Crime Reporting Portal or call 1930, reporting to Bajaj Finance alone doesn't cover those steps.
- Acting within the first few hours matters most. Blocking your card or account and reporting quickly gives you the best chance of limiting further loss, waiting even a day can make a real difference.
If you suspect fraud, stop all contact with the sender immediately, block the affected account through your bank, and report it through cybercrime.gov.in or 1930, then separately flag it to Bajaj Finance if its name was used.
What is financial fraud?
Financial fraud is any deceptive act used to access your money, your accounts, or your personal financial information without your knowledge or consent. It can happen through a fake call, a misleading message, a cloned website, or an unauthorised transaction, and it doesn't always require you to make an obvious mistake, sometimes just clicking a link or sharing an OTP is enough. Recognising the common patterns fraudsters use is the fastest way to avoid becoming a target.
Common types of financial fraud
| Type of fraud | How it works | How to stay safe |
|---|---|---|
| Identity theft | A fraudster steals your card, bank, or personal details to make transactions or open accounts in your name | Never share your PIN, internet banking password, or account details with anyone |
| Investment fraud | You're offered an investment with unusually high, guaranteed returns | Research independently and consult a trusted financial professional before investing |
| Lending fraud | Scammers pose as a lender offering unusually low-interest loans to collect your details | Only share personal information with verified, trusted loan providers |
| Card payment fraud | You're told your card has won a prize or is about to expire, then asked for card details or OTP | Never share your card number, PIN, or OTP with anyone contacting you unprompted |
How can you tell if you're being targeted by a scam?
A few consistent warning signs show up across almost every type of financial fraud:
- Unsolicited contact creating urgency: A call, SMS, or email pressuring you to act immediately, often threatening account suspension or a missed opportunity
- A request for your OTP, PIN, or password: No genuine financial institution ever needs these to help you
- Promises that sound too good to be true: Guaranteed high returns, loans at unnaturally low interest rates, or a prize you never entered for
- Requests to pay an upfront fee: A genuine loan, refund, or reward never requires you to pay something first
- Unfamiliar links or unverified apps: Requests to click a link or install an app from outside official app stores
If you notice even one of these signs, treat the communication as suspicious and verify it independently before responding.
How can you protect yourself from financial fraud?
A few consistent habits reduce your risk significantly, regardless of which type of fraud you encounter:
- Never share your debit or credit card PIN, internet banking password, or account details with anyone
- Remember that financial institutions do not call to remind you your card is expiring or ask you to renew it over the phone
- Never pay an upfront fee to a third-party account, UPI ID, or wallet to "release" a loan, refund, or prize
- Only trust emails from a company's officially registered domain
- Change your PINs and passwords regularly
- Use secure, well-known payment gateways for every transaction
- Avoid clicking links received through unsolicited messages, and don't download files from unfamiliar websites
- Verify unknown sellers on social media before making any payment
- Remember that you cannot win a lottery or contest you never entered
What should you do if you suspect financial fraud has already happened?
Acting quickly limits how much further damage a scam can cause. If you believe you've been targeted:
- Stop all further contact and payments with the suspected fraudster immediately
- Contact your bank or card issuer through its official number to block the affected card or account
- Report the incident to the National Cyber Crime Reporting Portal at cybercrime.gov.in, or call the 24x7 helpline at 1930
- Preserve your evidence: screenshots, messages, transaction references, and any phone numbers or email addresses used
- Monitor your accounts closely for further unauthorised activity over the following days
Report financial fraud connected to Bajaj Finance
Resolve common queries with the articles below
Frequently Asked Questions
Overview
Identification
Prevention
What is financial fraud?
Financial fraud occurs when someone uses deceptive methods to access your money or personal information, through fake calls, misleading messages, cloned websites, or unauthorised transactions carried out without your knowledge or genuine consent.
Why are financial frauds increasing today?
As more people use digital banking and payment apps, fraudsters have more channels, SMS, email, fake websites, and social media, to reach potential victims and trick them into sharing sensitive financial details.
Can I be affected by fraud without doing anything wrong myself?
Yes, if your personal details are stolen elsewhere, such as through a data breach, someone can misuse them to open accounts or take loans in your name, without you directly sharing anything yourself.
Will my bank ever call to ask me to renew an expiring card?
No, financial institutions do not call to remind you that your card is expiring, and never ask you to renew it over the phone. Your card is simply reissued automatically once it expires.
Should I ever pay an upfront fee to receive a loan or prize?
No, you should never deposit fees or charges upfront into a third-party account, UPI ID, or wallet to receive a loan, refund, or prize. This is one of the most common fraud tactics.
What should I do immediately if I notice an unauthorised transaction?
Contact your bank immediately to block the affected card or account, then report the incident through the National Cyber Crime Reporting Portal or by calling 1930. Acting quickly limits further misuse.
How do I verify if a communication is genuinely from Bajaj Finance?
Access your account directly through My Account or the official Bajaj Finance App rather than any link provided in the message, and only trust emails sent from Bajaj Finance's officially registered domain.
Where can I report fraud involving Bajaj Finance's name?
Raise a request through My Account or the Bajaj Finance App under the relevant fraud category. You should also separately report the incident to your bank and through the National Cyber Crime Reporting Portal or 1930.
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