The content highlights five prevalent financial scams in India, providing practical advice on how individuals can protect themselves from loan app fraud, gift card/email scams, online marketplace scams, social media hacking, and fake influencer schemes.
Mind Map
Click to expand
Click to explore the full interactive mind map • Zoom, pan, and navigate
blank victims are made to join a group
on telegram through which all the fraud [Music]
takes have you ever experienced this
situation before if
not because there's a high chance you
might in the future 42% of Indians have
experienced financial fraud in the last
3 years according to a survey get this
an average victim losers around 15 , 334
rupes and of these people 74% of them
are unable to get their money back so
how do you protect yourself from all of
these scams just listen to your man
Finance with Sharon but beyond that I
want to talk about the biggest Financial
today number one loan app fraud it's
3:00 p.m. on a Sunday afternoon you just
stuffed yourself with mea Biryani and
scrolling through reals you later come
across an ad which redirects you to
download an app that is ready to give
you a loan and the interest rate which
is unbelievably low this seems like a
dream come true to finally get yourself
a new phone and a Macbook and new pair
of sneakers and you continue using the
app it asks you for access to your
gallery contacts and obviously you click
on agree 20 times without even reading
the terms and conditions I mean who does
that the loan gets approved and the
money is in your account everything
seems good but suddenly your relatives
are sending you screenshots of videos of
you on Bon Hub now you might think first
why are my relatives on Bon Hub and
second when did I star in such
movies but then you got a phone call
it's a blackmailer demanding you to pay
back the loan amount with 100% interest
or you won't remove those videos from
that site this scam is widely prevalent
and many people have lost thousands to
it the moment you give access to your
gallery the frers get access to your
images and create nude mofed versions of
it they blackmail you saying they'll
forward these pictures to your contacts
which in the first place you yourself
give them access to in some cases these
apps make profits as high as 2,100 per
as well so how to save yourself from
this scam first subscribe to this
Channel and second when it comes to loan
app frauds avoid any loan app that isn't
affiliated with an RBI registered bank
or nbfc these details can easily be
found with a simple Google search don't
download any app that isn't verified by
your phone's app store if the app offers
0% interest or very low interest it's
most definitely a scam check for reviews
of the app online if you can't find any
it's probably new or you're going to be
the first victim most importantly if the
app promises to approve your loan
without any background verification such
as credit score check or documentation
check it's a scam number two gift card
scam and email scam the next scam
involves your boss in other words your
pseudo boss it's 9:00 a.m. on Monday
morning you just entered the office and
received an email from your boss the
email says that your boss is in an
important meeting and needs you to
immediately purchase a few Amazon gifts
cards for his wife's birthday he claims
he cannot do this because of the meeting
and that he'll reimburse you later it's
obviously a little sus but you give into
to his reasoning and purchase those
cards anyway promotion you meet your
boss in the evening and ask him if he
received those gift cards and he
asks what gift
cards you find out that your boss never
asked for a gift card this type of scam
is on the rise guys people receive an
email from someone imitating to be their
boss and asking for money apart from
gift cards they sometimes will instead
ask you to pay a vendor on their behalf
and they'll reimburse you for it what
these scammers do is that they use an
email address which is exactly the same
as your bosses except it differs by one
or two letters the idea behind the scam
is that gift cards are Anonymous and
untraceable a gift card is basically
digital cash with no account number
linked to it for example here's
something that actually happened where
someone faked pranal cra's email tips to
avoid such scam make sure to fully read
the email address of the sender in most
cases it may have one or two letters
which are different it may also have an
additional letter in between another
thing that you can do is always call
them up and confirm once if they
actually wanted you to purchase a gift
card for them you'll mostly realize they
did not ask for one scam three Ox scams
now when you want to buy or sell
something online there are many frauders
out there trying to loot your money ox
and quicker are some of the most widely
known websites to sell your used Goods
but if you aren't careful you could
definitely get scammed let's say you're
trying to sell your old phone you post
an ad on these platforms to sell it
you're likely to get an immediate
response by someone posing as a buyer
you're like damn everything is sorted in
most cases they don't even negotiate the
price and are willing to pay you
whatever you ask for let's assume that
he posted the phone for a sale at 12,000
rupees the scammer will tell you that
he'll pay you the amount online through
UPI such as PTM or through Google pay
then they tell you that they are in the
Army stationed in a far off place and
hence it's not possible to get physical
delivery with the phone nor can he pay
in cash he'll try to gain your
confidence by stating he'll pay in
advance then he'll proceed to send you a
fake screenshot which shows he's paid
you through UPI in reality you haven't
received jack you tell the scammer
you haven't received any money he then
proceeds to send you another QR code
claiming that to receive the money you
need to scan this so you proceed to scan
this QR code and enter your UPI pin but
bada bing bada boom instead of Money
Getting to your your account money gets
debited now you're losing it I mean
obviously he's from the Army right so he
won't scam you but he isn't from the
Indian army he's probably from the BTS army
army
man now he proceeds to send you another
QR code claiming to send you double that
amount which will cancel out the 12,000
rupes which was already
debited seems like a nice guy right now
I don't think I need you to tell what
happens from here on out these scams
happen both ways guys while buying and
selling a product a similar scam happens
when you're trying to buy something the
scammer will claim he's from the Army
and hence you won't be able to take a
physical look of the product they'll ask
you to pay in advance to ship the
product as well some of these dudes will
even send you fake identification as an
army officer plus a corer receipt
stating that they've shipped the product
now how to avoid this one pretty simple
if you ask me firstly verify the
identity of the seller or buyer most
fake ads can be easily detected they
usually just copy paste images from
another seller but with an extremely low
price next if the other party seems to
be in a hurry or urgently tries to close
a deal then it is most likely a frauder
avoid accepting or making an advanced
payment try your best to get a view of
the product in person if possible and be
wary about the location you meet as well
always meet in a public place and don't
disclose personal addresses finally if
the other party claims to be someone
they're not then that's basically
identity theft identity theft is not a
joke Jim millions of families suffer
every year scam four social media
hacking now let's come to the most
widespread scam happening today which
many of us are most likely to go through
has any of your social media accounts
ever been hacked now you might say
Sharon we are not some influencer like
you with millions of followers why would
a hacker hack my account you're right
you don't have millions of followers like
me but the hacker still wants to hack
your account I'm going to tell you what
they can and will do with your account
as well but firstly how on or do they
even hack your account in most cases
they have already hacked your friend's
account you will later get a cautionary
message from that hacked account stating
that an inappropriate photo of you has
been posted online he'll send a link
where you can view this out of panic you
rush to open that site it asks you for
your login credentials and you sign in
now the hacker gets access to your
account because you entered details on
that site but you you don't know that
it's all done on the back end once you
sign in you find nothing there and
assume it to be a prank by your friend
you think your friend is a dumbass doing
such a useless prank but you're the real
dumbass who just gave away credentials
to your account to someone else next
thing you know the hacker starts sending
messages to all your friends asking for
money saying it's an emergency if you
have broke friends just like yourself
emotion no damage then it's all cool
because no one can give any money but
there's a good chance that the hacker
can t a family member or relative for
example a man in Mumbai lost a total of
60,000 Rupees by making four
transactions of 15,000 rupees each
before he got suspicious and called up
his needy cousin who was requesting the
money only to find out that his account
was hacked but Sharon this scam is hard
to figure out because we don't know what
to trust and what not to trust so for
that I tell you avoid opening unknown
and suspicious links through your
account do not log in using your
credentials on any unknown website and
lastly because Common Sense isn't so
common don't share details like your AAR
card pan card Etc online and mainly for
the guys in my audience did some hot
chick you don't know slide into your DMs
and want to be more than just friends
it's probably a fake account bro next
thing you know they're going to start
asking you for money saying it's an
emergency and your ass will probably
feel sad and give it to them only to
find out you got played by some dude
from Jamara con look scam five fake
influencer scam talking about social
media scams there's another one going
around quite a bit if you ever commented
on my YouTube shs you'll probably
receive a comment from this account at
this point it's obvious that it isn't me
I do not provide any type of
consultation on WhatsApp either we don't
do that here today there are many
accounts which are fake and use the
identities of many other Finance
influencers as well the worst part is
them trying to provide consultation and
charging for it if you fall for it and
pay them you aren't going to get any
consultation call back either I have
many DM where people fall for these
scams and ask me why I haven't given
them consultation call yet that's not me
currently both my Instagram and YouTube
channels are verified hence don't
believe any communication you receive
through other channels here's another
example where someone faked akad shav's
profile and offered Services tips to
avoid such scams checking for a blue
tick mark is kind of useless because
most Finance influencers don't have a
blue tick mark yet I didn't have one
either until I hit the 1 million mark on
Instagram hence a better way to
differentiate against fake accounts is
the follower to likes ratio next check
if other influencers follow this account
here's an example the second account
here is the real account of Tas ji so
finally guys the five Financial scams I
just covered are just the tip of the
iceberg and it's impossible to fit all
of them into one video so tell me in the
comment section below if you want a
second part and I'll make one just for
you guys the best way to handle
scenarios where you're mostly going to
get scammed is to stay calm and analyze
the situation Panic will make you
overlook the situation and cause more
more collateral damage New Age banking
has made a lot of things convenient for
us but there are downsides as well hence
follow my tips share this video with
someone who's most likely in your family
to fall for such scams and stay safe
guys it's usually our parents and older
people fall for such scams so please
share this video with them and I'll see
you in the next one
Click on any text or timestamp to jump to that moment in the video
Share:
Most transcripts ready in under 5 seconds
One-Click Copy125+ LanguagesSearch ContentJump to Timestamps
Paste YouTube URL
Enter any YouTube video link to get the full transcript
Transcript Extraction Form
Most transcripts ready in under 5 seconds
Get Our Chrome Extension
Get transcripts instantly without leaving YouTube. Install our Chrome extension for one-click access to any video's transcript directly on the watch page.
