As the festival season kicks in, cybercriminals are intensifying scams by luring unsuspecting bank customers with fraudulent reward point redemption schemes and cashback offers. Posing as representatives of reputed public and private banks, they are using fake links, malicious applications, and phone calls to steal sensitive financial information.

How the scam works

A senior police officer explained that fraudsters typically employ two strategies. The first involves making direct phone calls to citizens while posing as bank officials. They claim to help customers redeem unused credit card reward points or provide special festival cashback, and in the process, they coax victims into revealing critical details such as card numbers, CVV codes, and OTPs.

The second method involves sending malicious APK files disguised as genuine banking apps or websites. These are shared through SMS or WhatsApp, promising instant access to reward points or exclusive cashback. Once downloaded, the files give cybercriminals remote access to the victim’s device, enabling them to steal credentials and siphon off money.

Victims lose lakhs in minutes

Police said the scams are particularly effective during the festive season as people are more inclined to spend and respond to attractive offers. “Fraudsters create a sense of urgency and trick customers into sharing confidential banking details. In some cases, victims have lost several lakhs within minutes of installing fake apps or clicking on malicious links,” the officer said.

The growing threat

Cyber experts note that scammers increasingly leverage festive spending patterns to maximise their success. They carefully design fake websites and apps that mimic the branding of leading banks and financial institutions, making it difficult for the average user to detect fraud.
Moreover, victims often hesitate to report such incidents immediately, fearing embarrassment or further complications, which gives criminals more time to cover their tracks.

Police advisory to citizens

Authorities have urged customers to stay vigilant and take precautionary measures. Citizens are advised to:

  • Verify reward points only through official bank websites or apps.
  • Avoid clicking on suspicious links received via SMS or WhatsApp.
  • Refrain from downloading APK files from unknown sources.
  • Never share OTPs, ATM PINs, CVV numbers, or other sensitive details over calls or messages.

In case of any fraud, victims should promptly contact their bank and lodge a complaint by calling the national cyber helpline number 1930. Swift reporting increases the chances of freezing fraudulent transactions and recovering funds.

Conclusion

With fraudsters actively exploiting the festival season, awareness and vigilance remain the strongest safeguards against cybercrime. As digital transactions surge, experts stress that citizens must double-check all banking-related communications and avoid responding to unsolicited offers, no matter how attractive they appear