India’s cyber fraud cases on the rise: 2019 to Q1 2024

Takeaways from the above graph:

A) Significant escalation in reported cases of cyber fraud from 2019 to 2024, grown nearly 60 TIMES from 2019 to 2023.

B) Going by current trends, cases set to breach 30 lakh in FY24.

A glimpse at the above statistics and headlines might make you feel powerless in the face of rising cyber crimes, but do not be discouraged. In consultation with Sharekhan’s Cyber Security professionals, we have compiled this Fraud Awareness Bible, which empowers you with the following:

- Method of scamming

- What to look out for

- Official channels of communication used by Sharekhan

- What you should do in case you suspect an attempt or have been defrauded

- We have also suggested top ways to protect your Demat and Trading account against online scamsters

Let’s get started!

What is impersonation scam?

An impersonation scam is an elaborate ruse, where malicious players pretend to represent a genuine stockbroker like Sharekhan and trap investors or traders into making large deposits after promising huge returns.

How impersonation scam is used in the real world

Scamsters reach out to genuine customers or investors on social media apps by impersonating a known brand, using their name, logo, likeness, and even the photos of their CEO, Management, Research Team Members, and Senior Management of other affiliated companies.

The following are well-known media used for trapping investors:

Key things to watch out for

If the returns promised are something you have not heard of or seen before, THINK TWICE! There is a high probability this promise is made by scamsters promoting a fraud attempt!

What to do if you encounter such scam attempts

If you come across any scam attempt wherein the returns promised look too good to be true, please don’t proceed. Write to us to confirm whether it is the authentic Sharekhan, at:

Impersonation Scam Safety Tips

Remember that Sharekhan Limited does not have any association with third-party companies or agencies to mobilize investments. Here are Sharekhan’s official touchpoints:

Sharekhan’s Customer Service

02241523200

02241683500

Sharekhan’s Genuine Email IDs

Customer Service: myaccount@sharekhan.com

no-reply@customercommunication.sharekhan.com
(this address cannot accept incoming emails)

How to find an authentic Sharekhan Branch

https://stockbroker-branch.sharekhan.com/

Sharekhan’s Genuine Websites

www.sharekhan.com

https://newtrade.sharekhan.com/

https://strade.sharekhan.com/

https://support.sharekhan.com/

https://diy.sharekhan.com/app/Account/

https://stockbroker-branch.sharekhan.com/

Sharekhan’s Genuine Mobile Applications

Sharekhan app
(Install on Android | Install on iOS)

InvesTiger app by Sharekhan
(Install on Android | Install on iOS)

Genuine Sharekhan Handles One Must Follow

Immediate actions if you have been scammed (first 24 hours after you transfer money are critical)

A) Report the scam: File a complaint through the National Cyber Crime Reporting Portal (NCRP) online at cybercrime.gov.in or by calling the national helpline number 1930. In most cases, like in Impersonation Scam, filing a First Information Report (FIR) at your nearest police station is mandatory.

B) Contact your bank: Inform your bank about the fraudulent transaction by calling their customer care hotline or by visiting a branch.

C) Inform Sharekhan: In case the fraud pertains to your Sharkehan account, informing us is important. The measures we can take and mechanisms we can start putting in motion are time-bound, so keep us informed.

What Sharekhan (silently) does for your Cyber Security

On our part, Sharekhan takes a host of precautions both with your data and for the security of our trading systems. You may check the myriad steps we take in the article Steps Sharekhan Takes for Your Cyber Safety.

Fraud awareness and prevention resources

Naturally, Impersonation Scam is not the only type of cyber threat out there. In consultation with our Cyber Security professionals, we have created this comprehensive list of articles on types of frauds and how to stay safe. Feel free to peruse them and share them ahead:

Your digital data is the most sensitive and vital information that must be protected from online threats. By adhering to these safety precautions recommended by our Cyber Professionals, you can considerably lower your chance of becoming a victim of a cyberattack and guarantee the security of your personal data.

Keep an eye on Sharekhan’s Cyber Security emails sent from time to time, and all the best!