Fraud Awareness: How to Identify and Avoid Common Scams

Fraud takes many forms, a fake SMS, a call offering an unbelievable loan, someone at your door claiming to collect a payment, but nearly every scam relies on the same handful of tricks: urgency, a request for information no genuine institution needs, or a promise that sounds too good to be true.
 

• No genuine institution ever needs your OTP, PIN, or CVV. This one fact, remembered consistently, defeats almost every fraud attempt regardless of how it reaches you, by SMS, call, or email.
   
• A secure padlock or "https" doesn't guarantee a website is genuine. Fraudulent sites can use encryption too, verify the actual web address independently rather than trusting the lock icon alone.
   
• An upfront fee is always the clearest warning sign. No real loan, refund, or prize ever requires you to pay something first to receive it.
   
• Even someone at your door needs to be verified. A recovery agent's identification and a proper receipt aren't optional extras, they're your right to ask for before handing over any money.
   

If you suspect fraud, stop all contact immediately, block the affected account through My Account or by calling customer care, and report it through cybercrime.gov.in or 1930 before anything else, this gives you the best chance of limiting further loss.

Fraud rarely announces itself. It arrives as a message about your EMI Card, a call about a loan you never applied for, or an investment opportunity that sounds too good to pass up. Recognising the pattern behind these scams, urgency, unfamiliar requests, and a demand for information no genuine institution would ask for, is the strongest protection you have. Savdhan rahein, safe rahein: staying alert is what actually keeps you safe.

Common types of fraud to watch for

SMS and phishing fraud

Fraudsters send bulk messages claiming your EMI Card, bank account, or KYC needs urgent attention, often warning it will be blocked unless you act immediately. The message includes a link to a cloned website designed to look like a genuine one, where you're asked to enter your card number, expiry date, CVV, or login credentials.

• Check the sender ID: Official Bajaj Finance SMSes are sent from the sender code 'BAJAJF'. A message from an unfamiliar number is a clear warning sign
• Never click the link in the message: Open the official app or website directly instead
• Be suspicious of urgency: Genuine communication rarely threatens immediate suspension within hours

Card payment fraud

Scammers contact you claiming you've won a prize through your card, or that your card is about to expire, then ask for your card number, PIN, or OTP to "process" it. No genuine institution ever needs these details to help you, sharing them hands a fraudster everything needed to make unauthorised transactions.

Lending fraud

Scammers pose as a lender offering a loan at an unusually low interest rate. Once you share your details, they may take a loan in your name and disappear with the funds, leaving you responsible for repaying it. Only share personal or financial information with verified, trusted loan providers, and confirm any offer directly through official channels before proceeding.

Investment fraud

You're approached with an investment opportunity promising unusually high, guaranteed returns. Genuine investments can never guarantee a fixed high return, since all investing carries risk. Research independently and consult a trusted financial professional before committing any funds.

Identity theft

A fraudster steals your card, bank, or personal details to make transactions or open accounts in your name. This can happen through phishing, a data breach, or simply oversharing personal information. Never share your PIN, internet banking password, or account details with anyone, and monitor your accounts and credit report regularly for anything unfamiliar.

In-person collection fraud

If someone visits claiming to collect an outstanding payment, always verify their identity before handing over any money:

• Ask to see their official identification card and check it appears genuine and unaltered
• Always ask for a receipt for any payment made, whether physical or digital
• If the person cannot produce valid identification, or seems reluctant to provide one, do not make the payment
• Contact customer care to independently confirm the visit is genuine before proceeding

A few consistent habits reduce your risk regardless of which scam you encounter:
 

• Never share your card PIN, CVV, OTP, or password with anyone, regardless of who they claim to be
• Check a payment website's URL carefully, but remember that a secure "https" connection alone doesn't confirm a site is genuine, fraudulent websites can use encryption too, so verify the actual web address itself
• Remember that financial institutions never 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 sent from a company's officially registered domain
• Change your passwords regularly, and avoid reusing the same ones across different accounts
• Avoid clicking links in unsolicited messages, and don't download files from unfamiliar websites

Acting quickly limits how much further damage a scam can cause:

1. Block your card or account immediately through My Account, the Bajaj Finance app, or by calling customer care at +91 8698010101
2. Change your passwords for any accounts where you may have reused the same login details
3. Report the incident to the National Cyber Crime Reporting Portal at cybercrime.gov.in, or call the 24x7 helpline at 1930
4. Also report it to your nearest police station, particularly if money has already been withdrawn or transferred
5. Preserve your evidence: screenshots, messages, transaction references, and any phone numbers or email addresses used

Reporting through the cybercrime portal or 1930 first gives you the best chance of limiting further loss, don't wait until after visiting a police station to do this.

In case you get tricked into a Bajaj Finance EMI card SMS fraud:

• Block your card immediately by logging onto the Bajaj Finance wallet or Bajaj Finance portal/ Bajaj Finance or calling our customer care number 08698010101 from your registered mobile number.
• Report suspicious fraudulent incidents to your nearest police station.

Savdhan Rahein. Safe Rahein.

Also read: Security Against Frauds