Work-from-home scams rising in India; here's all you must know about them

Work-from-home scams have become increasingly common in India, with people falling prey to fraudulent schemes that promise easy money

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The growing popularity of working remotely from home has increased opportunities for people but it has also created new difficulties for jobseekers as many find it difficult to distinguish between legitimate opportunities and dubious schemes.

Online calls and data entry work are some of the simplest remote employment options. However, they are also the most popular with fraudsters, who ensnare unwary victims and disappear with their money.

How does the work-from-home (WFH) scam operate?

The scam usually starts with a message from scammers posing as human resource (HR) representatives from well-known companies. They entice victims by asking them to like and follow social media accounts and YouTube videos, and even send them money in order to gain their trust.

Victims are then led to believe that they are involved in a legitimate business as the scammers make daily payments to their accounts.

However, the scam takes a sinister turn when the scammers add the victims to a Telegram group where they create fake, sophisticated, and unique-looking crypto trading platforms. They ask victims to send them money and complete certain tasks in order to multiply their investment.

To further deceive victims, scammers create fake virtual wallets to give the impression that their money is safe and secure.

Victims are frequently caught up in this scheme, sending money on a daily basis and sometimes losing their entire life's savings. Some victims have even borrowed money from friends, only to lose it all in the scam.

Types of WFH scams

Data-entry scams: In this type of scam, victims are promised high-paying data entry jobs, but after paying registration fees or investing in software, they learn that the jobs do not exist or that the materials they received are of poor quality.

Scams involving online surveys: In these cases, victims are persuaded to take part in surveys that promise to earn them a sizable sum of money. However, after finishing the surveys, they either receive no payment or are asked to pay a fee in order to claim their earnings.

Freelance-job scams: Scammers posing as clients or recruiters offer freelance-job opportunities requiring specific skills such as writing, graphic design, or programming. Victims are either not paid for their work or are given fake cheques that they unknowingly deposit into their bank accounts, only to be held liable when the cheques bounce.

Fake-job offers: Scammers post fraudulent job listings on job portals or social media platforms, targeting people looking for work-from-home opportunities. They then request personal information, payment for processing fees, or training, and disappear after receiving money or sensitive data.

How can you spot work-from-home scams?

1. These jobs typically require personal information or payment in advance.

2. They also make promises of easy and quick money.

3. If the job description is ambiguous or has unreasonable expectations.

4. Ineffective communication or unprofessional behaviour by the 'employer'.

How can you protect yourself from these swindles?

Verify the authenticity of job offers: If you receive offers for work-from-home opportunities or online businesses, do thorough research and verify the legitimacy of the offer before investing your time or money.

Be wary of unsolicited messages or emails: Do not respond to unsolicited messages, emails, or phone calls, especially if they request personal information, financial transactions, or investments.

Protect your personal information: Only share personal information such as passwords, credit card details, Aadhaar numbers, or other sensitive information with trusted entities when absolutely necessary.

Be cautious of cryptocurrency-related schemes: If you want to invest in cryptocurrencies, learn about the risks and best practices first.

Report suspicious activity: If you come across any suspicious or fraudulent online activities, report them to the appropriate authorities, such as the police or the Cyber Crime Cell, and take the necessary precautions to protect yourself and your finances.

What should you do if you have been cheated financially?

If you have been the victim of this type of financial fraud, experts advise you to:

1. First, block all communication with fraudsters.

2. Obtain all the fraudsters' information and contact information, as well as any evidence of the fraud, such as screenshots of conversations or emails.

3. Keep a record of all payments made to the fraudsters.

4. Report the fraud to the appropriate authorities, such as the police, a cybercrime unit, or the consumer court.

5. Inform banks and credit card companies about the fraud and take the necessary steps to secure their accounts.