Popular and Top Scams in The World

1. The Nigerian/Ghana Emergency Scam
2. Plane Ticket & Visa Scam
3. Medical Emergency Scam
4. Nigerian 419 Scam
5. Fake Police Scam
6. Cashing Money Order Scam
7. Lottery Scams
8. Phony Inheritance Scams
9. Disaster Relief Scams
10. Business Investment Scams
11. Job Scams, Online Classified Scams & Phishing

Some Scammers pretend to be UK-based and use what look like UK telephone numbers but are actually virtual numbers, which may redirect to anywhere in the world (UK – Nigeria, for eg). These are the digits to look out for at the start of a virtual phone number.

Dialling from outside UK

+44 70** *** ***

+44 3** *** ***

+44 84* *** ***

+44 87* *** ***

+44 9** *** ***

Dialling from inside UK

070** *** ***

03** *** ***

084* *** ***

087* *** ***

09** *** ***

Tineye.com is a good resource to check suspect pics.

 Cick THIS for more details 

Can e-Wallet Solves The India’s Cash Crisis?

When the prime minister of India, Narendra Modi announced a ban on old Rs 1,000 and Rs 500 on November 2016 and putting a cap on withdrawals from banks and ATMs, the prime minister came up with the idea of cashless society. But how do the people react to this issue? The people protested and the prime minister gets backlashed upon his unprecedented decision. 

People have to stand for long lines at the ATM to withdraw some cash and by the time their turn is up, the cash runs out. The people are tired from seeing the “NO CASH” sign on the ATM. It is said that the old currency was being replaced with new 500 and 2000 rupee bills, but they have been slow to gain circulation. They struggled to pay house rent, children’s tuition fees and even sending money back to their hometown for their sick parents. 

In India, cash has been the only method to do payment for decades because of scarcity of banks. And now that the PM Modi announced to go cashless, it’s an absurd idea for the Indians. 

How could it be that way? They are way far behind in technology advancement. The digital infrastructure in India is so horrendously poor. Smartphone owners represent minority in India. Most of them cannot afford to have even one smartphone and how can they commit the cashless money idea? Not in one’s right mind. Not forgetting, e-Wallet needs Wi-Fi connection or internet connection. It is found that India stands among the lower half of surveyed countries in internet usage. They are lacking in that service. And how on earth India is going to commit 100% in cashless money? That is why they rely on traditional cash. 

The major reason why the prime minister made this huge step of going for e-Wallet (as known as cashless money) is because to overcome the black economy problem. Black economy refers to the underground economy that thrives on untaxed, unaccounted money and illicitly acquired wealth. Arun Kumar an economist said “The black money economy will not end and this recessionary period is only going to continue. People’s faith in banking system has been shaken. They are distrustful. There is uncertainty all around.”

The Indians hope the current suffering will give them a better future for their life and beloved country. 

 They feel like Modi is finally acting on promises they elected him for - to end the black of economy that has been haunting the people of India for decades. 

In other words, e-Wallet or cashless money does help in terms of curbing the black economy but the effort is still irrelevant and not suitable for India because India is lacking in digital infrastructure and affordability to own smartphones. If this effort is being applied in United States, it will not be a big problem.

UPI versus E-Wallet : Pros and Cons

The usage of both UPI and E-Wallet can be attributed to the fact that being a digital platform they have made transfer of money from one person to another quite an easy job. UPI and E-Wallet is growing in the fintech industry. Sooner or later, do not be surprise if coins and paper money production will be stopped when people start to find cashless money is much more efficient and relevant.

UPI is an initiative taken by Reserve Bank of India’s National Payment Corporation of India (NPCI) whereas e-wallet is an initiative taken by private companies, followed by banks. However, can the initiative taken by the government of launching UPI will replace e-wallets?

E-Wallet

Mobile wallets or e-Wallets are digital instruments where you can store money for instant payments. You load money from your bank account via credit or debit cards or net banking. Most wallets are semi-closed wallets, for instance, you can transfer money to people who have the same wallet, or make payments at merchants who are authorized to accept from that particular instrument.

The advantages of using E-Wallet are you can pay bills using online also, visiting individual biller’s website, and paying using cards or from the account. In this, you have to enter your password or card number every time to make the transaction. In case of e-wallet, you can do a one-click payment for a repeat transaction. For the first transaction, you will have to go through the registration process, but not every time. Also, depending on the tie-up that e-wallets have with merchants, you may be able to make payments to multiple billers from one platform.
E-wallet providers have started offering e-commerce platforms in their app itself. For example, MOLWallet app by MOLPay Sdn Bhd, where you can visit e-commerce website such as Amazon. This app allows you to make payments using the in-built wallet. This saves you from having to open multiple e-commerce websites or apps to shop. Shopping can be done easily with the innovation of E-Wallet.

Many companies offer coupons, cash backs and gift cards to encourage the usage of e-Wallet. These are some of the loyalty programs that e-Wallet offer. When you make a transaction, the cash back comes to you in the e-wallet, which you can then use for your next transaction. Then there are e-wallet companies that allow you to redeem the points from your cards, which is otherwise at times a cumbersome process.

Now, let’s look at the drawbacks of using e-Wallet. First and foremost, security will always be the top issue for e-Wallet. Questions like “Is it safe to use e-Wallet?” and “Will number of digital pick pockets increase?” This is the hurdle that companies must face and as a result, must develop security systems that are as safe and full proof as possible to avoid potential security issues. Companies must make sure that their customers' information is encrypted and well protected.

E-Wallet depends on mobile devices. What if the device got lost? What will happen to the digital wallet? As you know the digital wallets can only be used online and via your devices like laptop, smartphone or tablet, so the use of e-Wallet is highly dependent on your device. If anyhow you are unable to reach your smartphone or laptop such as due to battery problem of any other reason, like it got lost, digital wallets are of no use. This is the main reason why digital wallets can’t beat credit and debit cards.

Unified Payment Interface (UPI)

Originally, UPI was introduced in India by NPCI. UPI is an electronic funds transfer instrument that enables all bank account holders to send and receive money from their smartphones without the need to enter bank account information or net banking user id or password. This requires only the recipient’s mobile number or Virtual Payment Address (VPA).
Basically, UPI and e-Wallet are quite similar to each other.

Nonetheless, the pros of using UPI are the cheapest method of fund transfer. Because of this low cost, UPI has the potential to promote the non-cash transactions of small amounts.
On top of that, UPI makes us free from cash and makes small transactions feasible. The smooth and low cost transaction had made it feasible for small shopkeeper and consumer as well. Once you start using the UPI, you need fewer visits to the automated teller machine (ATM).

By using UPI, you do not have to give your personal details. Most of us avoid using online transaction and card payment because it will ask for our bank account details and personal information. For card transaction, you give card number, validity period and CVV number. Whereas net banking transaction exposes your bank account details. For this reason, the card and online payment is not as much popular. People still prefer cash. But the UPI solves this problem. The payment through the UPI does not require the card details or bank account details. You have to only give the virtual payment address (VPA). The virtual payment address is similar to our email ID.

The drawback is, the UPI is too new to the society and operate in India for the moment. The UPI rollout started in the end of August 2016 and some companies are still running “alpha” tests. Most users are not aware of who else uses UPI and it has suffered from a lack of direction.