Tools
Myth vs Fact
Common beliefs that cost people money, checked against the facts.
"The caller knows my name and account digits, so it must be my bank."
Scammers buy or steal personal data. Knowing your details proves nothing. Banks never ask for your OTP, PIN or CVV.
"A website with a padlock is safe."
The padlock only means the connection is encrypted. Fraud websites can have it too. Check the domain name carefully.
"Only rich or careless people get cheated."
Fraudsters target everyone: students, retirees, shopkeepers and professionals. Pressure and fear can fool anyone, so a pause rule helps everybody.
"I should invest everything and keep nothing aside."
Without an emergency cushion, a single shock can force you to borrow or sell investments at a bad time. Safety first, growth second.
"High returns can be guaranteed if the adviser is experienced."
No one can guarantee returns on market investments. A promise of fixed high returns is the clearest sign of a scam.
"Checking my own credit score lowers it."
Checking your own score or report is a "soft" enquiry and does not reduce it. Many loan applications in a short time can.