Income Tax Refund Related Frauds: The State Bank Of India took to X (fka Twitter) to reiterate an advisory to caution taxpayers against fraudulent messages that are portrayed to be from the Income Tax department related to income tax refunds.
These messages often include a hyperlink that leads taxpayers to a misleading website. Taxpayers who are unaware of these fraudulent activities unknowingly click on the link, enter their personal details and risk their financial and personal identity.
Here's What SBI Said
In the X post added on Wednesday, they warned taxpayers to not click on any unverified links!
Furthermore, they advised customers to never share their confidential information with anyone over Email, Website, Social Media, SMS, Phone Call or any public platform! and visit the official Income Tax Department website for any authentic information related to tax refunds.
Beware of Income Tax Refund related frauds. Do not click on any unverified links!
September 13, 2023
Never share your confidential information with anyone over Email, Website, Social Media, SMS, Phone Call or any public platform!
Visit: https://t.co/UdVvT8TcGu for authentic information!
Report… pic.twitter.com/jr5Ly99o7jThe short video shows glimpses of the types of messages taxpayers might receive that claim to provide an income tax refund.
A message reads: 'Dear Taxpayer, please be notified that your income tax refund is ready. The total amount is Rs 39,280.99. Kindly follow the link below to complete your Income Tax refund application to enable us process and remit your refunds into your bank account at the earliest.'
Another message read: 'Dear Taxpayer, your income tax refund of Rs. 16,988 has been approved and your bank a/c will be credited shortly. Do kindly verify your a/c no. XXXXXXX. If the name is correct, quickly follow the link below to update your bank records on file.'
Income Tax Refund Fraud
The Income Tax department had also informed taxpayers regarding such fraudulent activities where the message promises Rs 15,490 as Income Tax Refunds which will be credited to the account once the taxpayer verifies the bank account by visiting the link provided in the message.
The department mentioned that if a taxpayer follows the link, and enters their detail, then scammers can misuse these details for illegal and wrong activities.
The PIB Fact Check team had shared a post highlighting this viral message claiming that the recipient has been approved for an income tax refund of ₹ 15,490. This claim is fake and it is essential to be beware of such scams & refrain from sharing your personal information. This same post was reposted by the Income Tax Department.
A viral message claims that the recipient has been approved for an income tax refund of ₹ 15,490.#PIBFactCheck
August 2, 2023
✔️ This claim is 𝐅𝐚𝐤𝐞.
✔️ @IncomeTaxIndia has 𝐧𝐨𝐭 sent this message.
✔️𝐁𝐞𝐰𝐚𝐫𝐞 of such scams & 𝐫𝐞𝐟𝐫𝐚𝐢𝐧 from sharing your personal information. pic.twitter.com/dsRPkhO3ggHow Does The Income Tax Refund Scam Operate
Citizens should be well aware of how such scams operate and how information provided from their side can lead to personal identify and financial thefts.
Here is an example of how such scam/fraud can happen:
Taxpayer recieves a fake message from a scammer, this message pretends to be from the Income Tax Department.
The message includes details about the tax refund followed by a link that redirects the taxpayer to a deceptive website mimicking the official Income Tax Department platform.
As the genuine website and the fake website are similar, the honest taxpayer falls prey to the deception and provides personal details like PAN number, Aadhaar number, and bank account information which are requested to complete the refund.
Once the taxpayer enters their personal information and banking details, the scammers illicitly gain access to those details and use it to withdraw money from the victim's bank account or use it to carry out fradulent transactions.
How To Avoid Falling Victim To Such Tax Refund Frauds
SBI in its post as well as the Income Tax Department on its website has listed down measures/steps which it recommends citizens to follow when getting messages claiming to provide refunds.
No clicking zone: Never click on links provided in such messages which can expose sensitive bank and personal information. Keep your personal data such as credit/debit card, PAN, Aadhaar card, internet banking, and UPI details private.
Secure Personal Data: Keep personal data secure in a digital safe and do not share them through any digital/social medium.
Report Cyber Crimes: If you find yourself trapped in a cybercrime, seek assistance from the Income Tax department, your bank, or the cyber crime department. You can dial helpline number 1930 or report your grievance at https://cybercrime.gov.in.
Scams & Frauds
Apart from income tax refund fraud, many different types of financial, personal identity and AI frauds have been reported in the past where the message promises either monetary claims or transfer of funds and innocent users fall victim to such scams.
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