Fraudsters are getting smarter

The technology of today allows us to accomplish many things online simply by clicking a button. The majority of people prefer to buy or sell goods online. Modern technology has provided many conveniences, but there are also many drawbacks. Every day, fraudsters are getting smarter and more adept at committing online fraud.

How OLX users are getting scammed

OLX is an online marketplace that enables users to purchase and sell various products, including furniture, electronics, cars, motorbikes, and much more. To make a sale, the seller must post an advertisement on the website. Although many sellers and buyers have benefited from this platform, fraudsters are making quick money by cheating people. An innovative trick was used by a fraudster to cheat a seller. Luckily, the seller realized there was something wrong and avoided the scam.

A woman had posted an advertisement for a pram for sale on OLX. Within days of the posting, she received a call from a person who wanted to know more about the pram. She asked the buyer to come to her place and visit in person to check the pram’s condition but he refused, stating that he wanted the pram for his sister who lived in another city. They agreed on Rs.3,500/- for the pram. After the deal was finalized, the lady was asked to provide her account information. After the account information was shared, she received an SMS informing her that Rs.13,500/- had been credited to her account. The buyer immediately messaged the lady, saying the transfer was a mistake and asking her to transfer Rs 10,000/- back. The woman was asked to transfer the funds to a Paytm account with a different number.

She thought there was something wrong and logged into her bank account to check. Upon checking her bank account, she found out there was no money credited and she had only received a message. This was a phishing message sent by the fraudster to rob the lady of Rs.10,000.

 Tips to buy safely on platforms like OLX:

1. Face-to-face contact should be made with the seller in a public place.

 2. Consider twice before taking up an offer if it seems too good to be true. It is better not to be fooled by fake offers and regret it later.

 3. Before purchasing any product, make sure you examine it thoroughly.

 4. Don’t pay in advance. You must pay the amount only after receiving the product.

 5. Using digital escrow platforms as a payment method is preferred. When you pay through an Escrow payment system over the internet, you are not sharing your information with strangers. One such platform for escrow is Vouch.

This is Fraud Story #71. Check back here for more fraud stories and scams that you can protect yourself from.

Escrow payment

 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 avoiding frauds like these. Do you have a fraud you would like to report? Please write to us at