If you compare online shopping with offline shopping, you can save a lot of money. Consequently, online shopping portals are growing along with the scope of online shopping. There are several online shopping websites in India.
However, there is one sad thing. Not every online shopping platform is genuine. In order to cheat online shoppers, numerous fake online shopping portals have been set up. In Mumbai, police recently arrested two men accused of creating fake shopping portals and scamming people. In India, a number of people have lost money through such online shopping portals.
Mumbai: A man loses Rs 92,000 trying to buy a shirt online
It has been reported that two members of a gang of online fraudsters from Murshidabad in West Bengal have been arrested. The gang used to advertise for shirts on a shopping website and then use buyers' personal banking information to con them.
In this case, the fraud was uncovered following a complaint from a resident of South Mumbai who lost Rs 92,000 to these fraudsters. In August of last year, he had ordered a shirt online for Rs 949. Even after an entire month, he had not received the shirt, so he called the website's customer support number.
According to the complainant, an individual identified as Rajkumar spoke with him. A second link was then sent and the complainant was instructed to input his bank information and UPI pin in order to get the refund. On September 6, two transactions deducted Rs 43,000 and Rs 49,999 from his account as soon as he submitted the form.
Marine Drive police were able to trace the phone number of the accused to West Bengal on March 3 and arrived there. Under the IT Act, the accused Tofajul Tahir Shaikh, 31, and Rabbiul Mandal, 25, have been charged with cheating and forgery.
How to avoid this fraud -
1. Do not divulge your personal information to anyone over the phone. In no case will a bank or a reputed company ask for your personal information like your card number, CVV, or OTP over the phone.
2. Do not call the number shown on a Google search. Check the official website of the company instead.
3. Check if the person is genuine before making a purchase from any website. It is due to a large number of fake sellers out there who fool people by putting up fake ads on social media. A fraudster simply disappears once they have collected the payment.
4. The use of digital escrow platforms for payments is recommended. When you make an online payment with Escrow, no financial information is shared. There is a platform for escrow called Vouch.
How does digital escrow work?
In digital escrow, a third-party account holds the money deposited by the buyer until the seller fulfills 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 #233. 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