INCOME TAX3 Oct 2026
Cancellation OTPs, fake offers, and urgent pleas: How scammers are using tactics to defraud people and how to stay safe | Mint
Cyber fraud in India is rising fast, and scammers now use fake offers, urgent calls and cancellation one-time passwords (OTPs) to trick even well-educated people. Government data shows over 65.89 lakh financial-fraud complaints between 2021 and 2025, involving more than ₹55,050 crore. Never share an OTP, and refuse any parcel you did not order. Report suspicious activity to helpline 1930.
Key Statutory Highlights
- According to the Ministry of Home Affairs, more than 65.89 lakh financial-fraud complaints were reported on the National Cyber Crime Reporting Portal between 2021 and 2025, involving over ₹55,050 crore.
- A study by IIT Madras researchers found that even highly educated and digitally experienced people can fall prey to financial cyber fraud, as scammers use fear, stress and urgency.
- Common frauds include digital arrest scams, courier or parcel scams, UPI collect request scams, KYC update scams, and investment or stock-trading scams.
Actionable Advice for Taxpayers / Founders:If someone asks for a cancellation OTP for an order you never placed, refuse the delivery and never share the code. Save screenshots of messages, chats and caller numbers, change your passwords and UPI PIN, and report it to helpline 1930 or the National Cyber Crime Reporting Portal.
Statutory Disclaimer: TaxQue Shorts are AI-assisted editorial briefs for compliance awareness. This brief has not passed every source check; confirm the original notification before acting. This does not constitute formal legal or CA counsel.
TaxQue News Desk
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