Scammers are targeting people in the name of startups. Whether you are an investor or job seeker, caution is your best defense. Follow these tips to stay safe.
New startups are emerging rapidly. Scammers are taking advantage of this to cheat people. Here are some essential tips to protect yourself from fraud in the name of startups.
Fraudsters often use urgency or emotional pressure. They send messages about blocked accounts or KYC completion to trap victims.
Think before acting. No legitimate financial service asks for OTP, password, UPI PIN, or bank details via call, email, or message.
Only invest or transact through SEBI-registered platforms. Type the website name yourself instead of clicking links.
Verify UPI handles or bank accounts using the SEBI Check tool. Be wary of social media groups promising guaranteed returns and report them.
In 2026, fraud involving cloned voices, deepfake videos, fake HR calls, and AI-generated emails has surged in India. These fraudsters appear professional.
It is essential to stay alert and verify the source. Avoid fake trading apps and IPO scams that win trust by returning small amounts initially.
Report incidents immediately to the cyber crime portal (cybercrime.gov.in) or call 1930. Also, beware of complex 'pig-butchering' scams.
Be cautious of 'vanity awards' and fake mentors. Some fraudsters sell awards or charge money by posing as mentors, which offer no real value.
Five major forms of financial fraud in India include Ponzi schemes, fake brokers, UPI scams, guaranteed return traps, and pump-and-dump schemes.
The first 6 hours are critical. If you become a victim, contact your bank's 24x7 fraud line immediately and file a report on the cyber crime portal.
In March 2026, major tech companies signed an 'Industry Accord Against Online Scams & Fraud' to enhance user safety.
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