Beware of the "Missing Person" WhatsApp Scam: A New Threat to Your Finances

In today's digital age, staying safe online is paramount. While we're often warned about common scams, a new and particularly cunning WhatsApp scam is emerging, preying on our natural curiosity and everyday digital habits. As a financial content creator, I've come across many frauds, but this one is truly alarming. 

How the "Missing Person" Whatsapp Scam Works 

This scam begins with a seemingly innocuous message. You receive an image from an unknown number on WhatsApp, followed by a call from the same number. The person on the other end will ask you to download the image and see if you recognise the person in it, claiming they are missing individuals. Out of courtesy or curiosity, you might download the image. The call then quickly ends. 

What you don't realise is that this isn't just an image. It's a malicious file containing malware. Once downloaded, this malware silently installs itself on your phone, granting the scammer full access to your device. From there, they can swiftly empty your bank account, often within minutes. 

Why the "Missing Person" Whatsapp Scam is So Terrifying 

The insidious nature of this scam lies in its exploitation of our routine digital behaviors. We frequently receive unsolicited promotional images and messages on WhatsApp, and we often download them without a second thought. This scam leverages that habit, making it incredibly difficult to detect. No matter how vigilant we are, such sophisticated tactics can make 100% safety feel out of reach. 

Precautions You Can Take 

Here’s what you can do to protect yourself”  

1. Limit Direct Accessibility: Move a significant portion of your bank balance to accounts or investments that are not directly accessible via UPI (Unified Payments Interface) or commonly used mobile banking apps (e.g., liquid funds, fixed deposits with withdrawal restrictions). 

2. Consider an "Offline" Account: Maintain a separate bank account specifically for essential transactions that is not linked to UPI or mobile banking, limiting its online exposure. 

3. Monitor Transactions Regularly: Frequently check your bank statements and transaction history for any unauthorized activity. 

4. Enable Transaction Alerts: Set up SMS or email alerts for all transactions on your accounts to be immediately notified of any activity. 

5. Disable Auto-Download on Messaging Apps: Turn off the auto-download feature for media files (images, videos, documents) on apps like WhatsApp to prevent malicious files from automatically downloading to your device. 

6. Restrict Group Invitations: Adjust privacy settings on messaging apps to control who can add you to groups, preventing you from being added to scam-related groups. 

7. Verify Unexpected Messages/Calls: Be highly suspicious of any unexpected messages or calls, especially those claiming to be from authorities or individuals in distress. 

8. Independently Verify Information: If someone claims a loved one is missing, contact that loved one directly through known and verified channels (e.g., their personal phone number, not a number provided by the potential scammer). Do not rely solely on information provided by the person initiating contact about the "missing person." 

9. Be Wary of Urgent Requests for Money: Scammers often create a sense of urgency. Never transfer money under pressure without independent verification. 

10. Be Skeptical of Unsolicited Contact: Treat any unsolicited contact with extreme caution, especially if it involves emotional appeals or requests for personal information or money. 

11. Protect Personal Information: Be very careful about sharing personal details online or with unknown individuals. 

12. Use Strong, Unique Passwords: Ensure all your online accounts have strong, unique passwords and consider using a password manager. 

13. Enable Two-Factor Authentication (2FA): Activate 2FA on all financial and important online accounts for an added layer of security. 

14. Educate Yourself: Stay informed about common scam tactics and share this knowledge with friends and family. 

Protecting Our Vulnerable Loved Ones 

My biggest concern, however, is for our parents and senior citizens. They are often less tech-savvy and frequently receive countless forwards and calls daily, making them particularly vulnerable to such scams. Educating them about these new threats and encouraging them to adopt cautious digital habits is a significant challenge. 

Read more on: Government Launches e-Zero FIR to Curb Cyber Fraud Crisis 

Conclusion 

The "Missing Person" WhatsApp scam is a stark reminder of the evolving landscape of online fraud. It highlights the critical need for constant vigilance and proactive measures to safeguard our digital lives, especially for vulnerable family members. By adopting robust digital hygiene and financial security practices, we can significantly reduce our risk against these cunning and destructive schemes.  

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks. Read all the related documents carefully before investing.