Paytm Starts Crackdown Against Fraudsters: 3500 Numbers Sent To Police, FIR Lodged?

Paytm Starts Crackdown Against Fraudsters: 3500 Numbers Sent To Police, FIR Lodged?
Paytm Starts Crackdown Against Fraudsters: 3500 Numbers Sent To Police, FIR Lodged?

Paytm has finally said that enough is enough!

After hundreds of fraud cases came up, specifically targeting Paytm users, now action has been initiated. 

As per reports coming in, Paytm’s Payment Bank arm has started a crackdown against fraudsters, and soon, severe action will be taken against them.

If you are a fraudster, and scamming Paytm customers to make some quick money, then be aware!

Paytm Cracks The Whip: 3500 Phone Numbers Sent To Police

Paytm Payments Bank has collected 3500 phone numbers, which were/are being used to dupe their customers. The entire list of 3500 numbers have been sent to Ministry of Home Affairs, as well as CERT-In, Cyber Crime team under Govt of India and Telecom Regulatory Authority of India.

Not only that, Paytm has also lodged an FIR in Noida, against these scamsters, and this is a clear indication that Paytm wants this menace to end for all.

These phone numbers also have the shortcodes, which are used by scamsters to fool customers.

Paytm Payments Bank MD & CEO Satish Gupta said, “Telecom operators should be directed to have stringent control on the issuance of shortcodes for bulk messages to companies. There is also a need to blacklist companies permitting such SMSs to be sent,” 

Paytm will also share these numbers with RBI and other banks, so that a central database can be created to stop this menace. 

How Paytm Scam Operates

Fraudsters create similar looking shortcodes, such as PyTm, PyaTm etc, and then send SMSes to the customers, stating that their money will be blocked, or account locked down, as KYC is not completed.

Once they are able to scare the users, these scamsters ask the customer to download a remote sharing app like Team Viewer, and then hack their phones to transfer money.

They are even able to convince the users to share the OTP, and execute the robbery successfully.

Right from 60-year pensioner losing Rs 13 lakh and entire savings to Air Force officers getting robbed of entire money in their account, Paytm fraud is getting bigger and bolder day by day.

Paytm has warned again and again that never share OTP with anyone, never believe the KYC scam, but still vulnerable, technologically limited customers, especially from Tier 2 and 3 cities are falling prey to this scam.

We hope that now, police and Govt. initiates some action against these fraudsters, and customers are protected.

We will keep you updated, as more details come in. 

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