The Central Industrial Security Force (CISF) used Twitter to warn people about con artists who use phoney identification documents to buy and sell goods on online marketplaces like Quikr and Olx. A new scam has recently surfaced on online marketplaces, where con artists attempt to convince victims to purchase used goods at tempting discounts in exchange for an advance payment to reserve the item through UPI. These con artists utilize fictitious police or military ID cards to gain people's trust. Most frequently, big-value transactions like those involving secondhand vehicles or expensive goods exhibit this type of behavior.
Man scammed by a fraudster pretending to be a CISF member.
While pretending to be members of the Central Industrial Security Force (CISF) stationed at RGI Airport, cybercriminals demanded Rs 60,000 from a city-based private employee after offering to sell him a bike for Rs 25,000.
The victim reported the fraud to the Hyderabad cyber crime police after only realizing what was happening when he was asked to pay more money. S. Karim, the victim, is a Golnaka resident in Amberpet who stumbled across an ad on Olx.com to sell a used bike. A gentleman named Shiva offered to sell the bike for Rs 30,000 and claimed to be a member of the CISF stationed at RGIA.
After some haggling, Shiva agreed to sell the bike for Rs 25,000 and gave Karim his phone number. Shiva informed Karim that he needed to take the bike out of the airport and that there would be fees associated with gate passes, insurance, and security clearance when he contacted, asking him to send the money in installments. He was instructed to send Rs 60,000 in total, understanding that the remaining sum would be returned when the bike was delivered.
Karim used a smartphone application to pay Rs 60,000 without understanding Shiva's motives. However, when the latter demanded an additional Rs 60,000, Karim drove to the airport only to discover that no one by the name of Shiva was employed there and that he had been tricked.
Karim complained to the cybercrime police on Tuesday, and they opened a case under the appropriate IPC sections.
How to identify if a buyer or seller is fake?
- When a buyer pretends to have transferred you money via Google-Pe, Phone-Pe, etc., but the money is really taken from your account.
- The buyer requests that you ship the item before they pay for it or offers phony payment documentation.
- The buyer will request the item without first checking it and will deceive by giving fake payment confirmations, messages, etc.
- Demand for non-cash payment methods: Usually, the buyer is adamant about using a cheque. Note that banks are not liable if cheques bounce.
- The buyer requests personal data such as your ID, bank account information, email address, and debit or credit card number.
How to avoid getting scammed?
1. Verify details of buyer/seller before proceeding to payment.
2. Any individual showing urgency or not waiting for a reasonable amount of time is likely to be a scammer.
3. You should never scan a QR code, share an OTP, or visit a link given by anyone on the internet.
4. Your One Time Password (OTP), UPI pin, and other secret information should not be shared on WhatsApp. Never provide banking information if anyone asks you to and always contact your bank. There is a possibility of fraud here.
5. It is recommended that digital escrow platforms be used for payment. When making an online payment with Escrow, you do not share your financial information with anyone. There is a platform for escrow called Vouch.
Digital Escrow Service 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.
Check back here to learn more about Escrow and how to protect yourself from fraud.
----------------------------------------------------------------------------------
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!
As you're now aware of the importance of online safety, let's get your transactions secure on Vouch. It's just a click away
