Exclusive: Paytm Phishing Becomes Scarier; Fraudsters Are Now Visiting Homes!

A techie from Jaipur has claimed a stunning, and chilling incident of attempted fraud, using the Paytm app.

We have already reported a spike in frauds related to digital transactions and mobile wallets, but this one is different. In those earlier scams, fraudsters used to call ignorant users and ask for OTP.

Once such OTP was shared, the amount was withdrawn from the bank account.

But now, fraudsters have developed a new modus operandi: They are visiting your home now!

Understand this modus operandi, as share by this techie from Jaipur.

The New Way To Cheat: Paytm Phishing!

We all know Paytm is India’s largest mobile app and torch-bearer of digital transactions and Digital India movement.

Now, using their popularity and brand name, fraudsters have devised a new technique: They will visit your home, and ask to log in right there.

But not on Paytm app!

Shobhit, a techie from Jaipur shared this incident on Twitter and Reddit.

We spoke with Shobhit and tried to understand how the scam was averted.

A person with an ID card similar to Paytm arrives at their home, and ask his grandmother to complete the e-KYC process.

KYC for mobile wallets has become very crucial, and we all know that if KYC process is not completed, then the wallet may cease to allow transactions.

Shobhit’s grandmother thought that why not? Let’s complete the KYC, and this was the hook which was successfully used here.

The fraudster asked for some documents, which were presented to him. He noted down the details, which raised red flag #1.

Then, he opened an app, which looked liked Paytm, but was not Paytm. That person asked grandmother to enter her own details on this app, which he claimed to be Paytm.

Shobhit, being a techie, quickly understood the game here.

He immediately took away the paper on which that person had written down details, and asked him his name.

Shobhit said,

“As soon as I asked his name, he fled. He just ran away! I was also with my grandmother, hence didn’t pursue him. But it was scary.”

Why This New Phishing May Work For The Fraudsters?

First of all, not everyone is a techie like Shobhit and can’t differentiate between fake and original app.

Secondly, the presence of a person and ID card and stuff can instill more trust. This is not something which is happening on phone, and hence the person may open his or her Paytm app on the scamster’s phone. And once that happens, the money is gone.

Paytm Responds: Shares Official Methods For KYC

In the Twitter thread, Paytm has responded, and shared the ways through which KYC can be officially done.

Besides, they have asked everyone to be alert, and report any such phishing attempt immediately

New @Paytm phishing scam alert:

I was at my house, when the door bell rang. My grandma opened the door to find a guy, supposedly from Paytm, asking if someone wants complete their KYC.

— Shobhit?? (@shobhitic) April 18, 2018

Have you encountered any such phishing attempt, using Paytm’s brand name?.  Do let us know, by commenting right here!