Our Commitment to Fraud Prevention and Customer Wellbeing

At L&T Finance, we are dedicated to protecting our customer’s financial security and overall wellbeing. This commitment is reflected in our robust fraud prevention measures and our unwavering focus on customer safety.

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Protecting Your Finances:

We take every precaution to safeguard your financial information and transactions. Our comprehensive fraud prevention strategy includes:

  • Advanced Security Systems: We employ cutting-edge technology and security protocols to detect and prevent fraudulent activities.

  • Continuous Monitoring: Our dedicated team constantly monitors transactions and account activity for suspicious patterns.

  • Regular Security Audits: We conduct regular independent security audits and are up-to-date with the latest security best practices.

  • Employee Training: Our employees undergo rigorous training to ensure they are equipped to identify and address potential risks.

  • Customer Education: We empower customers with resources to... Read more

 

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Fraud Awareness

Loan extension scams

Loan extension scams are fraudulent schemes that involve misusing personal information to get illegal loans. Common loan extension scams

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Investment chain fraud

"Investment chain fraud" refers to a type of scam where individuals are lured into investing in a scheme with the promise of high returns.

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OTP Fraud

One-time password (OTP) fraud is a type of cybercrime that involves tricking people into sharing their OTPs.  

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Fake loan apps

Fake loan apps are mobile apps that promise quick loans but engage in unethical practices and may not have a physical address or contact information. How to identify fake loan apps

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Voice call fraud

Voice call fraud, also known as "vishing", is where criminals use deceptive phone calls to trick victims into revealing sensitive personal information. 

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Email Fraud

Email fraud, also known as phishing, is a scam that tricks people into giving away personal information or money.  

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Cautionary Notices

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Beware of Loan Scams:

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Phishing and Spoofing:

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Verify Our Identity:

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Commission Scams:

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Upfront Fee Scams:

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Protect Your Information:

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Guaranteed Loan Scams:

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Loan Approval is Not Guaranteed:

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Fake Loan Apps:

Types of Fraud

What are the common types of fraud?

  1. Identity Theft: This occurs when someone steals personal information, like Social Security numbers or bank account details, to commit fraud, such as opening accounts or making illegal purchases.
  2. Phishing: Fraudsters often create fake emails, text messages, or websites that look like they come from trustworthy companies in phishing scams.
  3. Investment Fraud: This type of fraud includes misleading investment schemes like Ponzi or pyramid schemes, where scammers promise high returns that are too good to be true.
  4. Credit Card Fraud: This happens when criminals get hold of credit card information and make unauthorised purchases, either by stealing physical cards or using stolen details online.
  5. Insurance Fraud: This includes various dishonest practices, such as faking claims, staging accidents, or giving false information to get insurance money.
  6. Online Auction Fraud: In this case, people are deceived into paying for items that don’t exist or are not as described on online auction sites.
  7. Healthcare Fraud: This involves cheating in the healthcare system, like billing for services that were never provided or submitting fake claims.
  8. Employment Fraud: Scammers target job seekers by offering fake job opportunities or asking for money for job applications, background checks, or training.

Insurance Fraud

This includes various dishonest practices, such as faking claims, staging accidents, or giving false information to get insurance money.

Investment Fraud

This type of fraud includes misleading investment schemes like Ponzi or pyramid schemes, where scammers promise high returns that are too good to be true.

Browse on authorized websites only

Be cautious of imposter websites that may look legitimate. Always check for "https://" and the lock icon in the address bar for a secure connection.

Be vigilant while using card

Be vigilant when using your card for payments. Always ensure you make payments in your presence and verify the POS machine’s authenticity.

Phishing

Fraudsters often create fake emails, text messages, or websites that look like they come from trustworthy companies in phishing scams. Their goal is to trick individuals into revealing personal information or clicking on harmful links.

Credit Card Fraud

This happens when criminals get hold of credit card information and make unauthorized purchases, either by stealing physical cards or using stolen details online.

What information should I provide when reporting suspected fraud?

Provide details about the suspicious activity, including dates, times, and any relevant screenshots or call recordings if any.

Use secure connections only

Avoid using public WiFi for financial transactions, as these networks are often less secure and can expose you to financial fraud.

Identity Theft

This occurs when someone steals personal information, like Social Security numbers or bank account details, to commit fraud, such as opening accounts or making illegal purchases.

How to report fraud?

Report to Cybercrime by visiting their website https://cybercrime.gov.in/ or call 1930.

How to check if a website is fraudulent?

Look for “https” in the URL, check for spelling errors, verify contact information, be cautious of “too good to be true” offers, and never provide personal information on a site that looks suspicious.

Don’t share personal information with anyone

Please never share your personal or financial information unless you are absolutely certain of the recipient’s authenticity. Bank authorities will never ask for sensitive information like your OTP or CVV.

What are some common signs of online fraud?

Urgent requests for personal information, phishing emails, unexpected charges on your account, unusual login attempts from unfamiliar locations, and pressure tactics to make a quick decision.

Online Auction Fraud

In this case, people are deceived into paying for items that don’t exist or are not as described on online auction sites.

How to safeguard yourself against online fraud??

  • Use verified apps only
    Download apps from verified sources like Google Play Store, Windows App Store, or Apple App Store.
  • Browse on authorised websites only
    Always check for "https://" and the lock icon in the address bar for a secure connection.
  • Use secure internet connections only
    Avoid using public WiFi for financial transactions.
  • Be vigilant while using card
    Always ensure you make payments in your presence and verify the POS machine's authenticity.
  • Don’t share personal information with anyone
    Please never share your personal or financial information. Bank authorities will never ask for sensitive information like your OTP or CVV.

Use verified apps only

Downloading apps from verified sources like Google Play Store, Windows App Store, or Apple App Store helps protect your device and personal information.

Healthcare Fraud

This involves cheating in the healthcare system, like billing for services that were never provided or submitting fake claims.

Employment Fraud

Scammers target job seekers by offering fake job opportunities or asking for money for job applications, background checks, or training.