Govt official lost ₹7.5 lakh chasing a new credit card. Here’s what went wrong

A section officer posted with the Home ministry was conned of around ₹7.5 lakh after fraudsters lured him with the promise of an American Express credit card.

This was the sequence of events: An anonymous person called the officer and offered to get him approval for a credit card. Although he initially refused to apply for it, he relented after being promised a higher credit limit.

To follow up on the application, the fraudster asked for the victim's credit card details. Then he sent him two APK files on WhatsApp and asked him to download. He also gave the impression that downloading these files was an important step to complete the application process for a new card.

Later, the fraudsters gained access to the victim's mobile phone, so all messages and calls were routed to another mobile phone under their control.

Later in the day, the officer discovered that a number of unauthorised transactions had been made using his credit cards. Then he got his card blocked and filed a police complaint.

Money lessons

These are the money lessons we can learn from this incident.

Check the number: Never trust a number different from the 1600 series. TRAI has mandated that all financial institutions must use 1600 for service and transactional calls.

Too good to be true: Do not be lured by offers you never wanted in the first place. In this case, the victim did not want a new credit card, but his greed for a higher credit limit led him to accept the ‘offer’.

Look for the red flags: Experts often recommend being extra cautious when downloading APK files. When someone sends you an APK file, it is a clear red flag for possible fraud.

Browser vs apps: When you apply for a new application, avoid completing the transaction on your mobile phone. The better option is to use a desktop or laptop to complete your application.

Set transaction limit: Set transaction limits on your credit card so that even if someone gets access to your card illegitimately is unable to exhaust your entire limit. This can be easily done through NetBanking.

Disclaimer: MintMoney has a tie-up with fintechs for providing credit; you will need to share your information if you apply. These tie-ups do not influence our editorial content. This article only intends to educate and spread awareness about credit needs like loans, credit cards and credit score. MintMoney does not promote or encourage taking credit, as it comes with a set of risks, such as high interest rates, hidden charges, etc. We advise investors to discuss with certified experts before taking any credit.

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