Carelessness and Need for Rewards of Customers Becomes a Major Reason for Fraudsters Increase in the Country - Sethurathnam Ravi
S Ravi BSE Former Chairman shares his views on how the increased need for rewards and carelessness are greatly made use of by the fraudsters. “The fraudsters succeed on account of customer’s need for rewards or better returns, increased spending limits, saving while spending and most importantly, carelessness as we seem to have forgotten what our elders taught us that Never Trust Strangers and Greed causes great Disaster”, Mr. Ravi says. As per the expert’s view, the advancement of technology, increased usage of digital platforms and mobile becoming a one stop device for various financial transactions, has eased the way of receiving and paying money and saving time in paying bills, making investments and also getting reward points. However, like each coin has two sides, this advantage comes with disadvantage of certain cyber threats, phishing, accounts getting hacked, bogus loan/ discount/ cash back offers. Sethurathnam Ravi There are also several other threats and scams that are run