In today’s digital world, the internet has become an integral part of our lives. We easily do things like online shopping, banking, social media, and job search. But with this, the risk of online fraud has also increased.
Fraudsters are now using technologies like Artificial Intelligence (AI) to defraud people. Cybercrime cases in India are increasing every year. Cybercrime is projected to increase by more than 20% in 2023-24. But the good news is that AI is not only used by fraudsters, but it can also help us protect ourselves from fraud. In this blog, we will discuss in simple language the types of online frauds that are happening today, how to avoid them, what precautions should be taken, and how AI can help us.
Types of Online Frauds Nowadays
First, let’s understand the types of online frauds. Fraudsters have become more cunning now, thanks to the use of AI. Some common frauds include:
Phishing Scams: Fraudsters send fake emails, messages, or websites, such as “You’ve won the lottery, click here” or “Your bank account will be closed, enter details on the link.” Using AI, they create deepfake videos or fake voices, such as a relative’s voice, to deceive people.
Fake Investment Schemes: Advertisements like “Invest ₹1,000, Earn ₹1 Lakh” appear on social media. AI creates fake reviews and graphs that appear real. People are duped in the name of cryptocurrency or stocks.
Online Shopping Fraud: Fake websites show cheap products and take money, but the goods never arrive. Fake QR codes are sent for UPI, which deduct money.
Job Scams: Fees are demanded in the name of a job. Fake interview calls are also made using AI.
AI-based fraud: Fake voices, videos, or chatbots are created using AI. For example, people are emotionally defrauded by talking to AI bots on dating apps.
These frauds are increasing because people click on links in haste or share personal information.
Simple ways to avoid online fraud
We can avoid these frauds with a few simple steps. AI can also help us.
Verify everything: If you receive a message or email, check to see if the sender is genuine. Visit the bank’s official website to confirm. Don’t click on unknown links. If someone asks for money on a video call, call them separately to verify.
Strong passwords and 2FA: Create unique and strong passwords for each account. Turn on two-factor authentication (2FA).
Keep your antivirus updated: Install a good antivirus on your phone and computer, and keep your apps updated.
Don’t share information: Never share your bank details, Aadhaar number, or password. Be wary if an app asks for too many permissions.
UPI Caution: Check where your money is going before making a UPI transaction. Avoid fake QR codes.
Awareness: Tell your family about fraud. Children and the elderly are more vulnerable.
AI is not only useful for fraudsters, but also for our safety. Here are some ways AI helps protect against fraud:
Fraud detection: AI systems in banks and payment apps detect unusual transactions. For example, if a large amount of money is suddenly deducted from your account, AI sends an alert. Apps like Paytm and Google Pay have this feature.
Deepfake detection: AI tools can identify deepfake videos or audio. For example, some software can check eyelashes or lip movements in a video to indicate a fake image. Google’s reverse image search also helps detect fake images.
Spam and phishing blocking: AI in platforms like Gmail and WhatsApp automatically blocks spam messages and phishing links. If a suspicious message arrives, AI puts it in the spam folder.
Cybersecurity training: AI-based apps like “Cyber Dost” or online courses teach you how to avoid fraud. They also provide tests so you can practice.
Real-time alerts: AI chatbots can alert you to fraud in real time. For example, if someone tries to log into your account, you’ll receive an instant notification.
What precautions should you take?
Here are some precautions to take everyday:
Don’t rush: If an offer seems too good to be true, proceed carefully.
Privacy Settings: Keep your privacy private on social media. Don’t follow strangers.
Report: If you encounter fraud, immediately call 1930 or file a complaint at cybercrime.gov.in.
Backup: Keep your data backed up to minimize the damage from hacking.
AI Tools: Use deepfake detection or fraud alert tools.
Set limits: Set a daily transaction limit at your bank.
Be aware: Stay updated with government programs like “Cyber Surakshit Bharat.”
Conclusion
Online fraud is a reality today, but with a little common sense and AI, we can stay safe. AI makes fraudsters smarter, but it also helps us detect and avoid fraud. Always ask questions: Is this message genuine? Is this offer genuine? Make your family aware too. Stay safe, stay happy!
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