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Source-This post on Types of online cybercrimes has been created based on the article “How criminals based in southeast Asia are trapping Indians online” published in “Indian Express” on 29 May 2024.
Why in News?
Numerous Indians are becoming victims of online financial fraud. The Indian Cybercrime Coordination Centre (I4C) analyzed trends from January to April, and discovered that 46% of reported frauds during this time came from Myanmar, Laos, and Cambodia.
About types of online cybercrimes
| Types | Description |
| Trading Scam | Method: Scammers use social media to advertise free trading tips, falsely using well-known stock market experts to lure victims into exclusive groups. Process: Victims are manipulated into downloading unregulated trading apps and making financial investments. They later find out that they cannot withdraw their money until they reach a very high account balance. |
| Digital Arrest | Method: Victims receive misleading calls claiming their involvement with illegal packages, with impersonators posing as law enforcement officials demanding money to resolve these fabricated issues. Process: In some cases, victims are kept in a ‘digital arrest‘, needing to stay on a video call until they comply with the scammers’ financial demands. |
| Investment Scam (Task-Based) | Method: Individuals are promised easy money for completing simple online tasks aimed at boosting social media ratings. Process: After completing initial tasks, victims are persuaded to invest more money for greater returns, which never materialize, leading to continuous investment requests. |
| Romance/Dating Scam | Method: Scammers create fake online dating profiles to establish romantic relationships, then concoct emergencies that supposedly require financial assistance. Process: The scam typically escalates to a crisis where the fictional partner claims to be detained and in need of funds for release. |
Read more: Indian Cyber Crime Coordination Centre (I4C)
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