Nithin Kamath’s Post

When every transaction is traceable for tax purposes, then why can’t government invest similar tech for tracing the recipient and getting the money back for the victim?

I used to get calls from unknown numbers in different states of India. It's horrible to receive continuous calls from unknown people. Being added to WhatsApp groups without consent has become so common that I often have to block and report to WhatsApp. Our phone numbers are publicly available in many databases, giving others access to personal information, which is truly frightening. Our phones are linked to banks, Aadhaar, PAN, voter ID cards, and many other IDs. The Data Protection Act needs to be taken seriously.

Major reason for this is the weak law around it.. A fraud of Rs. 10 and Rs. 91 lakh has the same punishment if convicted and even after conviction the punishment is very small lets say 1-2 years in Jail... And conviction very low due to multiple stakeholders multiple agencies involved in it. It is important that punishment to be amended to be in proportion to the agony it causes to the person losing the money.... Section 318 is Bailable whats the point of it then and investigating authority also has no incentive to investigate such cases as these cases are neither sensational enough like other c*ime nor easier to investigate due to technical nature and lapses at the end of banks and other stakeholders

This month, we’ve identified over 30 fake trading apps impersonating brands like Paytm Money, HSBC AMC, FYERS, SMC, Nuvama, IIFL, Motilal Oswal, Interactive Brokers, and other global financial institutions. Despite early detection, many of these brands lack the urgency to acknowledge and act, allowing scammers to thrive. We must not only raise awareness but also take decisive action to counter these fraud apps directly. If you’re reading this, drop me a message and let’s chat.

High time police or regulators start catching these fraudsters and punish them severely to demotivate others to even attempt such things. If people are not protected online, it's a matter of time online usage will be only for small value transactions and entertainment. For everything substantial, people ll prefer to do it in-person. Even if it takes more time. RoI is worth it and risk is reduced drastically.

If cyber cell can do a research on how many educated software engineers, doctors, etc are losing money like this, would be fun n enlightening at same time. If they can give a gender diversity n work profile of frauds victims like this one, it would tell alot who is more gullible in money matters n more prone to these frauds..d unsettling part of this story is - a person who can earn 91L from job can loose it like this, hence proper research metrics is needed. Cmng from sales background, I know "urgency after repo building" card was played here but smthng deeper is also gng on.

Changing your privacy settings is a great start, but it doesn’t fully solve the problem. Even with these settings, your number remains visible, leaving you vulnerable to targeted scams or misuse. That’s where Port, by Numberless comes in. It’s a messaging app that takes no phone numbers. You can do the same things as WhatsApp or Telegram—connect, communicate, and even call—but without ever giving or sharing your phone number. With Port, you’re fully protected, ensuring absolutely no scams or spam. Check it out here: https://port.numberless.tech/

Social engineering fraud is impossible to detect using tech (including our own fraud prevention models) but you can catch the tell tale signs with some simple principles. If there is something too good to be true, it is life telling you to walk away.  Fraudsters don't break or hack into your account. They lure you to give it to them.  Making you believe in them is their primary asset. The moment you suspect, they walk away.  Fear of losing out is worse than fear of missing out. Life will not remember how much money you made. Losing hard-earned money feels far worse than missing an investment opportunity. Fraudsters often win when you are impatient. If you slow down, take your time, do your research, ask a lot of questions, then you can beat them in their own game. Bonus Tips: Know that you are just as vulnerable even if you have years of experience. Stay alert when using SM. If someone says hi from an unknown number in WhatsApp, just block and move on :)

Phone pe Google Pay apps are major reasons, one password share, otp share and your account may remain Zero. To safeguard money, kept all money (around 1-2 lacs) in Trading app (without investment) and kept 3-2 k in this phonepe n all. Whenever in need, withdraw money from trading account to saving account. As this process keeps you waiting for 7-8 hours, you get the time to rethink on your possible expense of that Money. Also, your money credits to your account instead others. Govt should develop such other stringent options for larger funds transfers, whoever wants to use, they can. Whoever don't want, you are on radar.

Need for Mitigata™ - Smart cyber insurance is undeniable, as eliminating cyber risks entirely is impossible. Raising awareness about the importance of cybersecurity and cyber insurance for individuals is crucial. Let's chat to make these solutions more accessible!