There are numerous cases in which fraudsters posing as friends or family members call or message the victim. The person claims to be facing an emergency situation and requests money from the victim. Everything about these messages and calls appears genuine. Unfortunately, many of these calls and messages are forged by fraudsters trying to defraud innocent victims of their hard-earned money.
Many people ignore such communications because it is well known that they are fraudulent. Unfortunately, some innocent people believe this to be true, causing them to lose hard-earned money.
A man is duped out of Rs 3 lakh by an online fraudster
Over WhatsApp conversations, a fraudster allegedly duped an employee of a private company out of Rs 3 lakh.
Wakad citizen 41-year-old victim has reported the incident to Wakad police station via First Information Report (FIR).
On January 19, the fraudster reached out to the complainant on WhatsApp, claiming to be his friend. Fraudsters used a photograph of one of the complainant's friends as their WhatsApp profile picture.
The fraudster attempted to convince the complainant that he was facing an emergency and asked for financial assistance. The Fraudster also provided details for the Canara Bank account to transfer the money.
The complainant, thinking the accused to be his friend, then transferred Rs 3 lakh to the account of the accused via an online transaction. After transferring the funds, he was not able to reach that number. Upon talking to his friend to confirm the deal, the victim realized that he had been duped and filed a complaint with the police.
According to the Indian Penal Code, sections 420 and 419 have been charged against the fraudster, as well as relevant sections of the Cyber Law. Police inspector Santosh Patil of the Wakad police station, the investigating officer, said further investigation is underway.
You might also want to check - Fraud Story #102 - Bank employee lost 67,000 in a lottery scam!
What to do if you get a call from such a scammer?
1. Verify details of the caller before proceeding to make any payment.
2. Any individual showing urgency or not waiting for a reasonable amount of time is likely to be a scammer.
3. Don't scan a QR Code or visit a link sent by anybody over the internet.
4. Fraudsters use fake identification of friends and family to gain trust. Keep a check on such attempts.
5. Avoid accepting or making advance payment. Accept only if the payment is made through Vouch. In case you are the one who's supposed to pay - Do it through Vouch.
How does digital escrow work?
In digital escrow, a third-party account holds the money deposited by the buyer until the seller has complied with the terms of the contract. The escrow company supervises the transacting parties.
What is the role of Digital Escrow in preventing online fraud 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. If you ever come across a fraudster asking for OTP, asking you to scan a QR code, or asking you to click on phishing links, you can simply refuse and ask him/her to proceed with the transaction through Vouch.
This is Fraud Story #118. Check back here for more fraud stories and scams that you can protect yourself from.
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!
Note: This is a good-faith initiative to educate the world about avoiding frauds like these and how to act when you're becoming a victim of such a situation.
Do you have a fraud you would like to report? Please write to us at firstname.lastname@example.org