India and Pakistan are both in the top 5 countries in the world for cyber fraud
The world is full of scams, but South Asia seems to have a higher proportion of them than the rest of the world. Pakistan and India, both neighboring countries, have made it to the list of most online fraudsters in the world.
In today’s digital world, it is important to be aware of the potential risks of internet fraud, especially if you live in a South Asian third world country. With the rise of online shopping, social media and digital banking, it is becoming increasingly easy for criminals to hide behind a screen and target unsuspecting victims.
According to Banking Mohtasib Pakistan, it received 37,364 complaints of financial fraud in 2021, which marked an increase of 46% from the year 2020. In 2022, Banking Mohtasib Pakistan recorded a total of 19,670 complaints.
Although Pakistan is not very advanced in terms of technological and IT advancements, its portfolio of scams, hacking and cyber fraud is not very modest. Almost all of Pakistan’s banks were hacked in 2018 and huge sums of money were stolen from people’s accounts by the perpetrators.
The cyber security incident exposed over 19,000 card details from 22 Pakistani banks. Among these, krebsonsecurity.com reported that over 8,000 account holders from about ten Pakistani banks had recently been sold on the dark web.
Financial scams and other scams in Pakistan have become very common these days. Many people are robbed of their money every day by fraudsters through many methods.
Those responsible for such activities are professional fraudsters who mask their IP addresses and call from bank-like UAN numbers to obtain sensitive information and then use it to obtain additional account details from banks. They usually operate from rural areas and prey on poor people through various schemes that often involve stealing their identities to buy SIM cards.
Given the situation, both private and state-owned banks should invest in upgrading the banking system and rely on enhanced security measures, such as anti-skimming devices, to protect their customers from fraudsters and fraudsters.
The State Bank of Pakistan must also play its role in this regard. In the meantime, the public should be advised repeatedly to never give out their banking details to anyone who asks on social media, text messages or messaging apps.
Hackers stole the personal information of 260,000 users from a Pakistani music streaming site in January 2021. In August 2021, hackers attacked Pakistan’s largest data center controlled by the Federal Board of Revenue (FBR) and managed to crack Microsoft’s hyper-V software, shut down all official websites that operated by the tax machinery.
No foreigner has visited India without encountering a scam or finding someone trying to scam them. With the rise of online fraud across the globe, India is no exception. In fact, India has seen an alarming rise in online fraud in recent years.
From fake websites to phishing emails and other devious schemes, it’s important to understand the different tactics used by cybercriminals in India
India is ranked number 2 in the ranking of best camming countries only below Nigeria.
It is widely recognized that UPI is the most common way of making day-to-day payments in India. Now, many people are still alien to the concept, but some marketplaces that allow people to sell pre-owned assets are starting to see an influx of UPI scams.
Many local and international users have fallen victim to online scammers and have lost tons of money. Several other UPI scams including impersonation, phishing and OTP access are spreading like wildfire. Scammers end up impersonating businesses and notable merchants and ask unsuspecting customers to pay upfront or even contact you using a UPI handle that looks like it was an official account.