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Zerodha warns users of dangerous scams involving bank accounts; check tips to stay safe

Zerodha warns users of dangerous scams involving bank accounts; check tips to stay safe

Zerodha, in a tweet thread, explained steps of precaution that a user can take. To start with, the company suggests that a user must never interact with social media accounts of brands that are not verified.

Zerodha, in a tweet thread, explained steps of precaution that a user can take. Zerodha, in a tweet thread, explained steps of precaution that a user can take.

Brokerage firm, Zerodha on Friday took to Twitter to warn its users of rising scams by impostors on social media that then ask their preys to transfer money.

Zerodha, in a tweet thread, explained steps of precaution that a user can take. To start with, the company suggests that a user must never interact with social media accounts of brands that are not verified with a blue tick and in times of doubt, one must always interact with the official customer care through the official phone or email.

The red flag here is the scammer asking you to transfer money to a bank account. Not just Zerodha, but any financial services company would never message or call asking to transfer money to a certain bank account. Zerodha's Kite app that is used for trading instead of asking for money, asks to add money to the app's wallet using Google Pay or net banking.

 

Online scams are on a rise in India. Last month, as the country celebrated it biggest festivals, about 62 per cent of Indians were prey to online frauds. A study conducted by The Harris Poll on behalf of NortonLifeLock found, "60% of Indian adults surveyed admit to taking more risks when online shopping during the gift-giving season than at other times of the year."

However, online scams are a global problem with every country seeing a rapid increase.

Published on: Nov 25, 2022, 2:08 PM IST
Posted by: Rachna Manojkumar Dhanrajani, Nov 25, 2022, 2:04 PM IST