People who try to sell things on OLX often get a call from fraudsters posing as buyers. They usually agree on the mentioned price without bargaining and this often makes the seller share his/her bank details.
Lost 1.05 lakhs in an attempt to sell shoes on OLX
An airline employee who attempted to sell an old pair of shoes online lost 1.05 lakh to Internet scammers. The OLX ad, posted on July 22 by Mallika Chouhan, offered to sell her old pair of shoes. Chouhan is a resident of Bagalur in Bengaluru.
Soon after, a man who was not identified called. His offer to purchase the shoes was accepted, and he said that he would pay with Google Pay. Having heard him, Mallika followed all his instructions. She later discovered that rupees 1.05 lakh were missing from her account.
Despite trying to call him, she was unable to reach him. An investigation by the cybercrime section of the North East police has been opened.
What to do if you get a call from such a scammer?
- Verify details of buyer/seller before proceeding to payment.
- Any individual showing urgency or not waiting for a reasonable amount of time is likely to be a scammer.
- Don't scan a QR Code or visit a link sent by anybody over the internet.
- 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.
- Fraudsters use fake identification of the army to gain trust. Keep a check on such attempts.
What is digital escrow?
Digital Escrow is the use of a third party account, during a transaction, which holds the money deposited by the buyer until the seller fulfills the terms of the agreement. The transacting parties are supervised by the escrow company.
How does Digital Escrow save you from online frauds in India?
Vouch’s Digital Escrow service is transparent for buyers and sellers to build trust and secure a clean transfer of product and payment. Buyers 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. 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 say no and ask him/her to proceed with the transaction through Vouch.
Vouch Digital Escrow uses a non-interest-bearing escrow account for all transactions in India and 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.
This is Fraud Story #70. Check back here for more fraud chronicles and scams 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!
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 email@example.com