Cyber fraudsters are increasingly using cashback offers to deceive victims into revealing sensitive banking information, with scammers urging quick decisions through fake offers and urgent countdowns. Experts warn against sharing OTPs or PINs and emphasise verification to stay safe.
Cyber fraudsters are increasingly dressing up scams as easy rewards, and one of the latest tactics is a so-called cashback trap that lures people with the promise of refunds, discounts or bonus payments. According to a recent report by Aaj Tak, scammers use the idea of “cashback chakravyuh” to pull victims into a false sense of gain before pressing them for sensitive details.
The method is simple but effective. Fraudsters may advertise unusually large cashback offers, such as 100% returns or steep discounts, then add urgency with a countdown timer or a warning that the deal will vanish unless it is claimed at once. The Times of India has previously explained that this sense of pressure is a common feature of cashback scams, designed to make people act before thinking. In some cases, victims are pushed towards fake links or rogue apps, where they are asked for UPI PINs, one-time passwords, card details or banking information.
Security experts say the biggest warning sign is a request for information that should never be needed to receive money. Aaj Tak noted that a UPI PIN is used to authorise payments, not to collect funds, so any message claiming otherwise should be treated as suspicious. Business Standard has similarly warned that modern cyber scams often rely on panic, false authority and a rushed decision to bypass normal caution.
The safest response is to stop and verify. People should read OTP messages carefully, avoid sharing codes or banking details with anyone and check whether an offer comes from a genuine merchant or payment platform. PCWorld has also pointed out that even legitimate cashback tools can collect extensive user data, which makes it important to review privacy terms and use only services that are transparent about how information is handled.
Disclaimer: This article is intended to inform and educate, not to recommend or endorse any financial product, investment or strategy. Please consider your own financial circumstances and seek professional advice where appropriate before making financial decisions.
