In today’s digital-first world, financial fraud is becoming increasingly sophisticated, targeting unsuspecting individuals through various channels. Third-party fraud, also known as 3rd party fraud, is one such growing concern, where fraudsters manipulate personal information or financial data without authorisation.
As a trusted NBFC in India, Bajaj Finserv prioritises your financial security. With advanced fraud detection tools, secure account management protocols, and RBI-compliant practices, Bajaj Finserv equips customers with the means to safeguard their accounts and report suspicious activities effectively.
Third-party fraud occurs when unauthorised individuals gain access to your financial data or accounts to exploit them for personal gain. These fraudsters often use deceptive tactics, such as phishing, fake loan offers, or social engineering, to trick victims into sharing sensitive information.
Common types of third-party fraud
- Phishing scams: Fraudsters send fake emails or SMS messages impersonating legitimate companies to steal login credentials or financial data.
- Fake loan offers: Unsolicited loan offers, often shared via WhatsApp or social media, lure victims with false promises of quick approvals.
- Digital wallet misuse: Fraudsters exploit weak security measures to access digital wallets and make unauthorised transactions.
- Counterfeit customer service calls: Scammers pose as representatives of Bajaj Finserv to request sensitive details under the guise of account verification or issue resolution.