Beware of Fake IVR Calls: How Scammers Trick Victims into Losing Money

As technology evolves, cybercriminals are finding more sophisticated ways to deceive people. One of the latest scams involves fake Interactive Voice Response (IVR) systems, tricking victims into revealing sensitive financial information . This growing fraud poses a serious risk, making awareness crucial for financial safety.

How Scammers Are Using IVR to Steal Money
IVR systems, commonly used by banks and customer service centers, allow users to navigate menus via voice commands or keypad inputs. However, scammers have found ways to manipulate this system, creating fake IVR setups that mimic real bank calls. By doing so, they deceive victims into sharing confidential details, leading to financial loss.

Recent Cases of IVR Scams
Bengaluru Case: A woman lost ₹2 lakh after receiving a fraudulent IVR call appearing to be from SBI. The automated message warned of an unauthorized transaction and prompted her to press certain keys to dispute it. Moments after complying, she received a message confirming the deduction of ₹2 lakh from her account.

Dollygunj Case: A man lost ₹80,000 after a scammer, impersonating TRAI, warned that his mobile network would be suspended due to illegal activity linked to his Aadhaar. He was instructed to press 9, which redirected him to a fake cybercrime officer who ultimately tricked him into losing his money.
Expert Insights on Fake IVR Scams

According to Dipanshu Parashar, founder of Virtual Cyber Labs, scammers exploit IVR systems by using sophisticated tactics, including:

Caller ID Spoofing : Fraudsters disguise their phone numbers to appear legitimate, mimicking banks or government agencies.

AI-Generated Voices: Scammers use advanced voice cloning to replicate real IVR systems, making their calls seem authentic.

Inducing Panic: Victims receive urgent warnings, such as threats of account suspension or unauthorized transactions, to pressure them into quick action.

Parashar highlights that senior citizens, non-English speakers, small business owners, and new online banking users are at higher risk of falling for these scams.

How to Spot Fake IVR Calls
Detecting fraudulent IVR calls can be simple if you know what to look for:

✅ Banks Never Ask for Sensitive Information – No legitimate IVR system will request OTPs, CVVs, or passwords.
✅ Scammers Create Urgency – Real customer service agents will never rush you into making an immediate decision.
✅ Overly Alarming Messages – Fake IVRs use extreme warnings, while genuine ones provide neutral guidance.
✅ Always Verify the Source – If in doubt, hang up and call your bank using the official number listed on their website.

Tips to Avoid Falling Victim
🔹 Never share OTPs, PINs, or card details over automated calls.
🔹 Enable SMS and email alerts for banking transactions.
🔹 Register for the Do Not Disturb (DND) service to minimize spam calls.
🔹 Report suspicious calls to your bank and cybercrime authorities.
🔹 If a call suddenly disconnects after entering details, contact your bank immediately.

Are Banks and Telecom Companies Doing Enough?
Financial institutions and telecom providers are actively working to combat these scams. Efforts include:

✔ Blocking Spoofed Numbers – Identifying and filtering fraudulent calls.
✔ AI-Based Fraud Detection – Using machine learning to analyze unusual call patterns.
✔ Public Awareness Campaigns – Educating customers about emerging scam tactics.
✔ Stronger Authentication Measures – Enhancing security to prevent unauthorized transactions.

However, cybercriminals are advancing their techniques, using AI-generated voices and real-time vishing bots to make their scams even more convincing.

What to Do If You Are Scammed
📌 Immediately call your bank using the official helpline.
📌 Report the incident to cybercrime authorities and TRAI.
📌 Block your card or freeze transactions if banking details were compromised.
📌 File a complaint at cybercrime.gov.in or call 1930.
📌 Report the fraud to local police and register an FIR.

Staying informed and vigilant is the best defense against these scams. When in doubt, always verify before taking action!