Fake App Alert! Check how to identify fraud or you could lose money

Shopkeepers should remain beware of fake Paytm apps that thug use to buy products for free.

New Delhi: While the pandemic has fueled digital transactions in India, it has also invited scamsters to loot the innocuous first-time users of the technology. The bad actors are deploying various methods to dupe and steal the hard-earned money of individuals. In one such case, it was found that a fake Paytm app is being used to steal lakhs of rupees from the bank accounts of Indians. 

So far, Hyderabad Police has arrested 8 people alleged to be duping and stealing lakhs of rupees from individuals, according to a report by The Indian Express. Moreover, the police have also reportedly recovered Rs 75,000 from the alleged fraudsters who have been arrested for online fraud. 

However, the rising number of digital frauds is now making authorities worried. For instance, fake Paytm apps are being used to steal money. The spoof apps look very similar to the genuine Paytm app, which makes it difficult for individuals to differentiate between the fake and the original one.

Similar fraud cases have been reported in other Indian cities and states such as Indore and Chattisgarh. In a scam incident, an alleged fraudster reportedly bought salmon worth thousands of rupees and showed the shopkeeper a fake payment screen by using the phone number and other details on the app. The fraudster was later caught and handed over to the police. 

Using the fake Paytm app, fraudsters enter the details of the purchase. Using the details, the app generates a fake successful payment notification that appears so genuine that shopkeepers believe that the customer has paid the money. 

But in actuality, it’s just a fake notification, and no funds are transferred to the account of shopkeepers. The scam, therefore, is difficult to catch, as shopkeepers usually don’t have the time to check their balance. Also Read: BGMI gamers alert! Krafton will now ban devices of users cheating in game

However, it’s advised that shopkeepers should check the balance after each transaction or at least should wait for the payment message to arrive before providing the goods or services to the customers. Also Read: Garena Free Fire redeem codes for today, December 25: Check steps to avail free items