In the age of the internet, we can do tasks quickly. The internet is a terrifying place to be, despite the extra convenience it provides. Cybercrime has been on the rise, and con artists are constantly coming up with new schemes to con people. We'll examine an OLX-related scam in this article.

A 22 year old engineer lost 1.24 Lakhs to an online fraud

A 22-year-old Borivali software engineer who was selling his furniture online was victimized by a cybercrime on a well-known online marketplace and lost Rs. 1.24 lakh. According to investigators, he was misled into sending the money rather than receiving it by the con artists acting as buyers.

On April 23, the software engineer posted an advertisement on the online classifieds site OLX for the purpose of selling his old furniture. Shortly after, he received a call from Suraj Kumar, who stated he was eager to purchase it. Both people sent each other one rupee at Kumar's request in order to check their individual accounts.

When the victim scanned the QR code that Kumar had supplied, he was promised Rs. 5000, but instead of being credited to his account, Rs. 5000 was deducted. When prompted, Kumar submitted a new QR code, and the victim lost another Rs. 5000. When confronted, Kumar explained that there had been a technical error and sent a new QR code; the victim lost Rs. 15,000 this time.

The fraudster distributed a QR code for Rs. 20 and claimed that Rs. 40 will be transferred to the victim's account while citing a technical problem. However, upon scanning the code, Rs. 40 were in fact paid to the victim's account, leading him to trust the fraudster.

The scammer then distributed two more QR codes, claiming they would be credited with Rs. 40,000, but the victim really lost Rs. 40,000 over the course of two transactions. The scammer used a similar method of operation to that described in the FIR to force the complainant to transfer further funds via net banking.

The victim lost a total of Rs. 1.24 lakh in 11 transactions before he realized he had been duped and went to the police. The MHB police have reported a crime and are looking into it.

How to identify if a buyer is fake?

  1. When a buyer pretends to have transferred you money via Google-Pe, Phone-Pe, etc., but the money is really taken from your account.
  2. The buyer requests that you ship the item before they pay for it or offers phony payment documentation.
  3. The buyer will request the item without first checking it and will deceive by giving fake payment confirmations, messages, etc.
  4. Demand non-cash payment methods: Usually, the buyer is adamant about utilizing a check. Note that banks are not liable if note cheques bounce.
  5. The buyer requests personal data such as your ID, bank account information, email address, and debit or credit card number.

How to avoid getting scammed?

1. Verify details of buyer/seller before proceeding to payment.

2. Any individual showing urgency or not waiting for a reasonable amount of time is likely to be a scammer.

3. You should never scan a QR code, share an OTP, or visit a link given by anyone on the internet.

4. Your One Time Password (OTP), UPI pin, and other secret information should not be shared on WhatsApp. Never provide banking information if anyone asks you to and always contact your bank. There is a possibility of fraud here.

5. It is recommended that digital escrow platforms be used for payment. When making an online payment with Escrow, you do not share your financial information with anyone. There is a platform for escrow called Vouch.

Digital Escrow Service In India.

Digital escrow services are offered by many companies in India. Among the most trusted is Vouch

Vouch’s Digital Escrow service is a transparent way for buyers and sellers to build trust and secure a clean transfer of product and payment. Sellers can feel assured that they will be fairly compensated promptly, and buyers will feel confident that their order will be delivered as expected and on schedule. Vouch Digital Escrow keeps you updated and informed at every step of the transaction process till the end. Vouch’s professionals are always available to assist you with all queries that you may have during the entire transaction process. 

There is no scope for deceit or fraud since the payments, shipping, delivery, and execution are carried out under the honest and watchful eyes of the Vouch’s professionals. With Vouch, any business transaction becomes transparent, uncomplicated, and hassle-free.

Check back here to learn more about Escrow and how to protect yourself from fraud.


Safety is not just about protecting your credit, debit card number, and UPI accounts. It's about having control of your money till you've received the product or service you bought online!

As you're now aware of the importance of online safety, let's get your transactions secure on Vouch. It's just a click away.