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Here are the Top 6 Countries Affected by Scam Calls in 2020

  • Highlights

  • Brazil is the most affected country followed by the United States of America when it comes to scam calls

  • India dropped to the 9th position from once being the most spammed country in the world

  • India’s scam calls have risen from 6% to 9% with KYC and OTP scams gaining more traction

Increased smart phone penetration and access to anything and everything online and with a click of a button has also led to an increase in fraudulent activities in the form of scam calls and SMS.
Though the menace of spam calling had slowed down initially because of the lockdown, scammers eventually started picking up the pace with overall scam calls going up to 9% from 6% in India as per the scamming statistics 2020.

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Top Countries Affected by Scam Calls and SMS 

The top five countries affected by scam calls and SMS are Brazil, USA, Hungary, Poland, and Spain. India, which once ranked highest for scam calls, has now gone down to the 9th position in the list. The drop could be attributed to the massive effect of COVID-19 on multiple aspects of our lives including economic activities. The number of vishing cases dropped in March and April but once the scammers got acclimatised to the current economic situation, phone users were deprived of the temporary respite.

What is a Scam Call or SMS?

Here is an example.

“Hi, I am calling from Bajaj Finance Corporation. As a result of your esteemed association with us, we are offering a home loan of up to Rs. 4 crores at an interest rate starting at 5.75%. But the offer is only valid for the next 24 hours. I am sharing a registration link and a payment link through UPI. Please share your bank account details and the OTP you receive on your phone. Make the payment within 24 hours to avail the home loan.”

These corrupt callers take advantage of the current situation and create a sense of urgency. They call you, pretending to be a representative of your bank or lending organisation and try to fraudulently extract sensitive information to siphon your money.

According to Truecaller, a spam blocking app, KYC and OTP-related scams have gained popularity in India, year after year. The modus operandi of the scammers involves convincing unsuspecting people via phone calls or SMS to disclose sensitive financial or personal information such as revealing a secret OTP or password, with the ultimate goal of stealing money from bank accounts or digital wallets.

They often pretend to be a representative of your bank or your financial lender and offer loans at unbelievably enticing interest rates. The economic void created by the pandemic led to a rise in such scam callers and ended up luring many innocent people into fake loan offers.

Tips to Stay Protected 

  • Bajaj Finance Limited or any other reputed financial institutions will never seek your sensitive information over Phone/SMS/Email/WhatsApp and social media platforms

  • If someone is exhibiting a sense of urgency, do not give in, no matter how tempting the offer sounds! Immediately, reach out to your lending institution for support

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  • Verify the website link sent for payment via SMS. There may be spelling errors indicating a fraudulent message. Ideally, don’t access an unidentified website link sent via SMS from an unknown number

  • Never call back on an unidentified number

  • Bookmark Bajaj Finance's official website URL http://www.bajajfinserv.in in your browser's address bar to avoid landing up on any fake website

  • In case, you have already shared your personal information and the payment has gone through, immediately inform the customer service department of your lending institution and have your card blocked to prevent further unauthorised transactions

Be alert, be aware!

Savdhaan Rahein. Safe Rahein.

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