Why It Pays To Pay For Info-Security

We are in the age of digitized finance. No wonder that financial crimes today are also digitized. To achieve serenity, you need to keep track of your digital safety... ...There is a wide variety of scams and fraudulent activities you must guard yourself against. Take tech support scam, for example. In a 2021 report on tech support scams, Microsoft said 31 per cent of the Indians surveyed lost money in a scam, the highest for any country. The RBI recently said that 83,000 bank frauds were reported in 2020-21. In these instances, Rs 1.38 lakh crore were fraudulently withdrawn from accounts. Less than 1 per cent of this amount could be recovered. I have been the target of sophisticated digital attacks, too. In one case, the attacker sent an email in my name to BankBazaar’s chief financial officer (CFO) instructing him to transfer funds to my bank account. Our alert CFO spotted the...