Source: SMS, WhatsApp or Email

In this cybersecurity fraud, perpetrators are contacting individuals and urging them to update their account details, claiming it is necessary to receive a refund. Unfortunately, those who fall for this ruse find their accounts drained of funds. This type of income tax fraud has been featured in cyber fraud news as part of the latest cyber frauds in India.

The fraud message usually reads:

“Your income tax refund of Rs. XXXX has been approved. Please verify your account number XXXX. If it is incorrect, then update your bank account information by visiting this link.” This is a common tactic employed by income tax fraudsters in online scams in cyber security.

Impacts:

• Monetary loss
• Personal data like contacts, images, credential stealing
• Screen Recording to harvest credentials
• Keylogging
• Abusing Call Screening Service to manage incoming calls
• Receiving commands via malicious CNC server and act according to it
• Sends SMS from the infected device

These tactics align with cyber security fraud cases and are often connected to latest cyber fraud trends.