The benefits of the internet are unparalleled, so it’s easy to ignore the risks that come with it. Online fraud and scams are common and only increasing in number. They often strike when you’re least expecting them and can end up costing you financially as well emotionally.
Consumers in India experienced a high online fraud encounter rate of 69 per cent in the past year, according to the Microsoft 2021 Global Tech Support Scam Research report. Further, 31 per cent of Indians lost money through a scam—the highest globally. Millennials, aged between 24 and 37 were the most susceptible to such scams in 2021, with 58 per cent of those that continued with the scam incurring a monetary loss. Incidences of unsolicited call scams increased from 23 per cent to 31 per cent in India between 2018 to 2021, and this continues to be the scam type that consumers in India respond to most often, followed by pop-up ads, redirects to websites and unsolicited emails.
To keep you safe from malicious scams online, it is important to familiarise yourself with common internet scams.