60 Yr Old Man Robbed Of Rs 13 Lakh Via Paytm KYC Fraud: This Is How Scamsters Tricked Him

60 Yr Old Man Robbed Of Rs 13 Lakh Via Paytm KYC Fraud: This Is How Scamsters Tricked Him
60 Yr Old Man Robbed Of Rs 13 Lakh Via Paytm KYC Fraud: This Is How Scamsters Tricked Him

Every week, we report to you new stories of online fraud, each one more shocking than the rest. In recent history, people have been scammed under various imaginative guises. One woman was scammed while booking a table at a restaurant, another instance was when a school was robbed off of Rs. 30 lakh

Here’s another one – a top-level executive of a company in Maharashtra has been robbed off of a huge amount, Rs. 13 lakh, under the pretext of updating his KYC.

A similar incident has happened previously, where the scamster posed as a Paytm employee and asked the victim to complete his KYC on Paytm, but he found himself scammed. He lost as much as Rs. 1.85 lakh in this scam.

Find out the whole story right here!

Managing Director Of Manufacturing Company Scammed Under KYC Guise; Loses 13 Lakh

The victim, in this case, is a 60-year-old top level managing director of a machinery manufacturing company. He was contacted on his cell phone by two persons, Rahul Sharma and Rohit Sharma. These two people told him that they wanted some information about the victim for updating KYC (Know Your Customer) purposes for Paytm.

Unaware of any foul play, the victim shared the information that was asked of him. He was also asked to make a token transaction of Re. 1 from his Paytm account, which he followed through. And this is where everything went sour.

The police have stated that in the next few days, he received a lot of messages on his phone, notifying him that Rs. 13,03,911 had been deducted from the two banks that were linked to his Paytm account. 

The police have registered a case against the two accused under  IPC sections 419 (cheating by personation), 420 (cheating and dishonestly inducing delivery of property) and the Information Technology (IT) Act.

Here’s What You Should Do To Avoid Paytm Fraud

Before downloading any app, make sure you verify that the bank or payments platform if they have an app, and what the app is called.

Next, be extremely alert of any apps that ask you for sensitive details regarding your bank account, such as Aadhaar number, mobile details, etc.

Lastly, never ever share any SMSes, OTPs, Whatsapp prompts for KYC, PIN numbers to anyone, no matter who asks. 

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