The threat of cybercrime is growing in this modern digitally enabled society. Cybercrime incidents have increased significantly after Covid. Using a variety of cybercrime strategies, fraudsters steal from their victims and pocket huge sums of money. This article will be based on Fraudsters in the Pretext of Recovery Agents.
Beware of fake Recovery Bank Agents
When someone loses their job or money, fraud of this kind occurs. These folks are the primary targets of fraud. Let's use Raju as an example. Raju lost his job after borrowing money from an XYZ bank to purchase a motorcycle. In this instance, a fraudster calls and threatens to confiscate his vehicle until he pays a specified sum of money. Not being aware of the fraudster technique, Raju consented to pay the sum.
An authorized bank recovery agent later, after a few days, approaches Raju at home and informs him that the bank would soon confiscate his property because he missed the last three EMIs. Raju came to the realization that the fraudster who was posing as a recovery agent had defrauded him at that point.
How to avoid this scam?
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