Beware of Fake IVR Calls: How Scammers Trick Victims into Losing Money
As technology evolves, cybercriminals are finding more sophisticated ways to deceive people. One of the latest scams involves fake Interactive Voice Response (IVR) systems, tricking victims into revealing sensitive financial information . This growing fraud poses a serious risk, making awareness crucial for financial safety.
How Scammers Are Using IVR to Steal Money
IVR systems, commonly used by banks and customer service centers, allow users to navigate menus via voice commands or keypad inputs. However, scammers have found ways to manipulate this system, creating fake IVR setups that mimic real bank calls. By doing so, they deceive victims into sharing confidential details, leading to financial loss.
Recent Cases of IVR Scams
Bengaluru Case: A woman lost ₹2 lakh after receiving a fraudulent IVR call appearing to be from SBI. The automated message warned of an unauthorized transaction and prompted her to press certain keys to dispute it. Moments after complying, she received a message confirming the deduction of ₹2 lakh from her account.
Dollygunj Case: A man lost ₹80,000 after a scammer, impersonating TRAI, warned that his mobile network would be suspended due to illegal activity linked to his Aadhaar. He was instructed to press 9, which redirected him to a fake cybercrime officer who ultimately tricked him into losing his money.
Expert Insights on Fake IVR Scams
According to Dipanshu Parashar, founder of Virtual Cyber Labs, scammers exploit IVR systems by using sophisticated tactics, including:
Caller ID Spoofing : Fraudsters disguise their phone numbers to appear legitimate, mimicking banks or government agencies.
AI-Generated Voices: Scammers use advanced voice cloning to replicate real IVR systems, making their calls seem authentic.
Inducing Panic: Victims receive urgent warnings, such as threats of account suspension or unauthorized transactions, to pressure them into quick action.
Parashar highlights that senior citizens, non-English speakers, small business owners, and new online banking users are at higher risk of falling for these scams.
How Scammers Are Using IVR to Steal Money
IVR systems, commonly used by banks and customer service centers, allow users to navigate menus via voice commands or keypad inputs. However, scammers have found ways to manipulate this system, creating fake IVR setups that mimic real bank calls. By doing so, they deceive victims into sharing confidential details, leading to financial loss.
Recent Cases of IVR Scams
Bengaluru Case: A woman lost ₹2 lakh after receiving a fraudulent IVR call appearing to be from SBI. The automated message warned of an unauthorized transaction and prompted her to press certain keys to dispute it. Moments after complying, she received a message confirming the deduction of ₹2 lakh from her account.
Dollygunj Case: A man lost ₹80,000 after a scammer, impersonating TRAI, warned that his mobile network would be suspended due to illegal activity linked to his Aadhaar. He was instructed to press 9, which redirected him to a fake cybercrime officer who ultimately tricked him into losing his money.
Expert Insights on Fake IVR Scams
According to Dipanshu Parashar, founder of Virtual Cyber Labs, scammers exploit IVR systems by using sophisticated tactics, including:
Caller ID Spoofing : Fraudsters disguise their phone numbers to appear legitimate, mimicking banks or government agencies.
AI-Generated Voices: Scammers use advanced voice cloning to replicate real IVR systems, making their calls seem authentic.
Inducing Panic: Victims receive urgent warnings, such as threats of account suspension or unauthorized transactions, to pressure them into quick action.
Parashar highlights that senior citizens, non-English speakers, small business owners, and new online banking users are at higher risk of falling for these scams.
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