Ways to Protect Yourself from Online Fraud
Due to the restrictions on movement because of the COVID pandemic, there has been a push towards digital payments. We can see examples of the same in our daily lives. We prefer to make all of our payments digitally rather than a visit to the local Kirana shops, malls, and markets. The way people borrow […]
How Geeta Avoided Chinese Mobile PayDay Loan Apps and Chose her Loan Provider Wisely
Geeta was a young professional who was looking to take out a personal loan to pay off some high-interest credit card debt. She had heard a lot of ads on TV and online about fast mobile loan apps that offered payday loans, but she was hesitant to use them. Instead, she decided to do her […]
How safe is your Digital Cash?
Internet security experts warn caution as India takes the cashless route. India’s shift towards becoming a digital economy, like any major world event, is a big opportunity for cyber criminals to find vulnerabilities. The following are some ways the security of your transactions could be compromised: Quick check: Not sure a loan app is genuine? […]
What is a Ponzi Scheme?
A Ponzi Scheme is a fraudulent investment operation where the operator, an individual or an organisation, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources. Typically, extraordinary returns are promised on the original investment. The fraudster will vanish with investors’ money, […]
RBI Digital Lending Norms
The Reserve Bank of India (RBI) has proposed new norms and asked the government to frame a new legislation to curb illegal digital lending in the country. The proposals come after a panel set up by the regulator found that there are 1,100 loan apps in various app stores, of which 600 are illegal. Digital lending in India is […]
Aadhaar Frauds
Aadhaar is one of the most powerful instruments in India today. UIDAI has generated 1.21 billion Aadhaar cards till date and has covered more than 95% of the Indian population. With the scale of information stored in the database of UIDAI, it has become the most substantial treasure. However, the Aadhaar Act prevents any organisation […]
What Is Credit Card Data Breach?
Quick check: Not sure a loan app is genuine? Check it in our directory of loan apps and their RBI-registered lenders, and see what to do if your loan app disappears from the Play Store. For example, see Buddy Loan and True Balance. Credit Card Data Breach A data breach can be defined as an […]
Risk in Bitcoin and Cryptocurrency
A Cryptocurrency is a form of digital money. Cryptocurrencies run on a decentralized network, which allows them to exist outside the control of central authorities. Transactions can be cleared with no trusted third party standing between payer and payee, and are designed to ensure that the payor has the funds and that each transaction is […]