Paytm founder warns customers to keep an eye on scam messages, mails
By MYBRANDBOOK
Paytm founder Vijay Shekhar Sharma through a social media message has cautioned customers to be careful and not fall prey to scam messages & emails from fraudsters pretending to be company officials.
“Pls (please) don’t trust any SMS sent on blocking your Paytm account or suggestion to do a KYC. These are fraudsters…” Sharma tweeted Tuesday evening.
In a separate tweet, Sharma also shared a picture of an SMS sent by fraudsters to several Paytm customers which read: ‘We will hold your Paytm amount after some time-…complete your Paytm KYC,’ along with a phone number.
“These or some SMS with some lucky draw are examples of fraudsters attempting to get your details. Don’t fall for them,” Sharma notified Paytm customers.
These tweets are a result of hundreds of Paytm customers getting duped over the past three months by scamsters posing as Paytm employees. They have registered complaints with the company’s cyber cell and RBI ombudsman over fraud claims.
The modus operandi involves the scamsters asking the targeted customer to download a mobile or desktop application to facilitate the KYC process. These applications include among others Anydesk, Quicksupport and TeamViewer.
Once these fraudsters get hold of the pin generated by these applications they get remote access to the victim’s device where subsequently in a series of two to four transactions, the fraudster siphons off funds from the victim’s bank account linked with the mobile wallet.
The extent of damage by these frauds is unclear; Paytm Payments Bank had said in an earlier statement that these messages have been sent on a “widespread” basis.
As per data shared at Rajya Sabha by Finance Minister Nirmala Sitharaman on Tuesday, RBI has received 1,997 complaints against payments banks in the Banking Ombudsman and Reserve Bank of India’s Consumer Education and Protection Cells between July and November of 2019. Of these, just 36 percent or 723 of the cases have been resolved with the rest 1,274 still “under process.”
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