3 hours Ago By CNBCTV18
Scammers are constantly coming up with new ways to steal from credit card holders. A recent case uncovered by the Noida Police reveals a gang that posed as bank officials, offering to increase credit limits and then stealing sensitive information to carry out fraudulent transactions. Index Fund Corner Sponsored Scheme Name 1-Year Return Invest Now Fund Category Expense Ratio Axis Nifty 50 Index Fund +32.
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Here’s everything you need to know about this growing threat and how you can protect yourself. How the credit card scam works Fraudsters contact credit card holders, claiming to be from their bank. They convince the victim that their credit limit is eligible for an increase.
With a mix of personal details — like the victim’s name and card type — the scammers make the offer sound genuine. As a result, the victim trusts them and follows through without second-guessing. The phishing trap To pull off the scam, the fraudsters send phishing links that lead victims to counterfeit websites.
These websites are designed to look exactly like the official bank portals, making it difficult to distinguish them from the real deal. Once on the fake site, victims are prompted to download an app that seems legitimate. The app asks for sensitive information, including the credit card number, email address, PAN, Aadhaar card details, expiry date, and CVV.
Once entered, this data is harvested by the scammers for unauthorised transactions. Once the scammers have access to the victim’s credit card details, they begin making large purchases. Expensive items such as mobile phones, gold, and silver coins are bought from e-commerce platforms using the stolen data.
By the time victims realise the fraud, the damage is done. Tips to stay safe from credit card fraud To avoid falling victim to such scams, it’s essential to stay vigilant. The Noida Police advise all credit card holders to be extra cautious when receiving unsolicited offers.
Here’s how you can protect yourself: If you receive a call or message offering a credit limit increase, hang up and contact your bank directly. Always verify any offers with your bank before taking any action. Never click on suspicious links, especially those from unknown sources.
Only download apps from official sources, such as the Google Play Store or Apple App Store. Never install apps from unknown or untrusted sources. Regularly review your credit card statements to catch any unauthorised transactions early.
Set up transaction alerts with your bank so you can be notified immediately about any charges made to your card..
