We all need a detox once in a while and take care of our internal as well as external beauty. And a plant that comes to our aid for that is Aloe Vera.
What if you were someone who was in the business of developing products based on Aloe Vera? And you have embarked on a plan to take advantage of the opportunity afforded by the Covid-19 Pandemic. But Aloe Vera instead of cleansing your skin cleansed your bank account due to an online fraud perpetrated by a cyber fraudster.
This is what happened with Savita.
Savita runs a business that utilizes Aloe Vera. She started looking out for it and found a supplier online. While the pandemic has opened new doors and brought new opportunities to businesses, no-contact payment methods that have helped increase business have also been a boon to fraudsters. While no-contact businesses don't transmit viruses, if not done in a protected manner, result in loss of money due to online fraud.
₹1.8 Lacs worth of Aloe Vera.
Savita found a supplier online who agreed to supply ₹1.8 Lacs worth of Aloe Vera. The person claimed that they owned a herbs unit and they could supply the Aloe Vera requirement. The supplier shared their bank account number with Savita and asked her to pay an advance before they could deliver the saplings.
Savita used internet banking to make the payment. The supplier has neither delivered the saplings nor returned the money. The supplier is not answering Savita's calls either.
These kinds of scams and frauds happen because there is no protection for payments such as these. There is no way to protect the payment and release it after delivery. When parties are far away and travel restrictions exist for instance, due to Covid, it is difficult to establish the trustworthiness of the other party.
Did you know:
Payments made via bank transfer don't have any means or support to get money back. Going to the Police, while the last resort measure, does not increase the chances of recovering the money.
Best method:
Prevention is better than cure. Transact thru a payment protection platform such as Vouch.
Here's how normal payments are different from payments made thru Vouch
This is Fraud Chronicle#4. Check back here for more fraud chronicles and frauds that you can protect yourself from.
Safety is not just about protecting your credit or debit card number. It's about having control of your money till you've received the product or service you bought online!
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Note: This is a good-faith initiative to educate the world about how to avoid frauds like these. Do you have a fraud that you would like to report? Please write to us at letstalk@iamvouched.com
