Puja Banerjee, Kunal Verma Lose ‘Life Savings’ | 10 Common Financial Frauds You Must Beware Of

Last Updated:June 11, 2025, 17:38 IST

Financial fraud involves the illegal or deceptive use of someone’s money or assets, often through scams like identity theft, forgery, or phishing.

Television stars Kunal Verma and Puja Banerjee, widely recognised for their roles in Indian serials and active online presence, have opened up about a devastating personal setback—they’ve fallen prey to a massive financial fraud. In a recent vlog, the couple revealed that someone they personally trusted scammed them, leading to the loss of their entire savings. Puja Banerjee mentioned that the growing concern from their followers after a recent update prompted them to speak out.

Watch the video here:

The news has stunned fans and the entertainment world, highlighting just how advanced and personal financial scams have become. If it can happen to them, it can happen to anyone.

What is Financial Fraud?

Financial fraud is when someone tricks you into stealing your money or assets. It includes scams like identity theft, fake emails, and forgeries. It can also hurt your business or name.

Here are 10 common financial scams you need to be aware of and protect yourself from in today’s digital and fast-moving world:

Ponzi Schemes

These are investment frauds promising high returns with little or no risk. Early investors are paid from the money collected from new investors. Eventually, the system collapses.

Phishing Scams

Scammers send fake emails or texts pretending to be from banks or financial institutions to steal personal and banking details. Never click on unknown links.

Fake Investment Apps

Fraudulent apps promise unrealistic returns. Once users deposit money, these apps disappear or freeze accounts, leaving investors stranded.

Lottery and Prize Frauds

You receive a message saying you have won a big prize but must pay a “processing fee” to claim it. Spoiler: there’s no prize.

Loan Scams

Scammers offer instant personal or business loans but demand an upfront fee for “processing.” Once the money is paid, they vanish.

Crypto Frauds

Fake crypto exchanges or coins lure investors with hype. After collecting funds, scammers shut the shop or create untraceable coins.

Telecom and SIM Swap Fraud

Criminals clone your SIM card and gain control of OTPs and banking transactions. Your phone suddenly loses network—be alert!

Impersonation Calls

You get a call claiming to be from your bank or the RBI, asking for confidential details under the guise of verification.

Fake Real Estate Deals

Fraudsters pose as property sellers, take advance payments, and disappear. Always verify ownership documents and avoid paying large sums upfront.

Identity Theft

This occurs when someone uses your financial details—like your bank account or credit card info—without permission to steal money or take loans in your name.

Business Desk

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al…Read More

A team of writers and reporters decodes vast terms of personal finance and making money matters simpler for you. From latest initial public offerings (IPOs) in the market to best investment options, we cover al… Read More

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Delhi, India, India

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