Fake Paytm App Used To Steal Your Money: How To Identify Such Frauds

India now second Cloud hacking targeted country after US

The pandemic has pushed digital transactions to an all-time high. While on the one hand this is good news, on the other it is not so much. With increasing online transactions, bad actors or attackers are easily able to dupe people and steal their hard earned money. Recently, an incident is related to the fake Paytm app, due to which lakhs of rupees were stolen in Hyderabad.

according to a report by Indian ExpressHyderabad Police has arrested eight people for duping people of lakhs. The police are said to have fraudulently recovered Rs 75,000 and sent him behind bars in a case of online fraud.

In the last few months, there has been a huge increase in the incidents of fraud using the Paytm spoof app. By using this app the attackers are tricking the people and looting their hard earned money. The app resembles the original Paytm app including its interface, so it often becomes difficult to differentiate between the fake and the original.

One such incident has come to the fore from Indore and Chhattisgarh. In one instance, the attackers allegedly bought salmon worth thousands of rupees from a shopkeeper and later showed fake payment information by entering phone numbers and other details on this app. Later these thugs were caught and handed over to the police.

In most cases related to Paytm spoofs, the fraudster first buys something from a shop and then enters the shopkeeper’s phone number, shop name, amount and other details to create a fake payment notification, indicating that they paid the money. Is. Paytm spoof also sends payment information to the shopkeeper’s account but basically no money is credited to the bank account.

To spot such scams, you should always check your bank account balance after each transaction. You also need to verify the source of credit, it should always come from your bank.

Fake Paytm App Used to Steal Your Money: How to Detect Such Frauds First appeared on BGR India.

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