In response to a surge in financial threats and fraudulent activities, India is gearing up to crackdown on over 100 Chinese-operated websites engaged in investment scams. The move aims to safeguard vulnerable users targeted by schemes resembling predatory loan apps. Despite the outward appearance of being Indian entities, these scam websites funnelled funds to Chinese operators. The Ministry of Home Affairs has instructed the Ministry of Electronics and Information Technology to block these fraudulent platforms. Central agencies identified the websites, prompting a thorough analysis that led to the government's decision to ban them. The complex money transfer system employed by these sites, connected to multiple bank accounts, ultimately converted funds into cryptocurrency. Additional sites may be added to the ban list in the future. Concerns raised by several states about such scams undermining the financial system prompted the government's decisive action.
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How to stay safe from online scams, individuals are advised to take precautionary measures:
1. Download Apps from Trusted Stores: Download apps exclusively from trusted sources like official app stores, avoiding third-party platforms and unverified websites.
2. Use Reliable Apps: Install reputable apps such as "Fraud Alert" by CERT-In, "mSafe" by NCSAP, and Google's "Anti-Phishing App" for real-time alerts and protection from scams.
3. Keep Software Updated: Regularly update software to benefit from security patches protecting against malware and other threats.
4. Limit Personal Details: Exercise caution when sharing personal details online and avoid disclosing sensitive information to unfamiliar sources.
5. Inquire Unsolicited Requests: Be sceptical of emails and messages requesting personal data, as scammers often use these tactics to steal sensitive information.
6. Affirm Claims: Disregard offers of free gifts from unknown individuals and avoid making online payments without proper source verification.