Nearly 75% of respondents reported having experienced online fraud, suggesting that the epidemic has sped up the pace of cybercrime. In addition, the OLX India Safer Internet Day Survey found that over 47% of respondents had suffered financial theft. The poll also revealed that social media use and online shopping were the top two activities that made respondents feel uncomfortable online. One in five respondents who are over 50 described the consumption of online content as potentially dangerous.
An unimaginable used-car fraud.
Daily reports of vehicle theft are made, but the way this crook did it will shock you. Manu Tyagi, a burglar, lured victims into his traps by posting ads to sell cars on the online marketplace OLX. Following this, he would often steal money from them and even drive off in their cars.
What actually happened? : Police in Gautam Buddh Nagar's Sector 24 police station apprehended a criminal who defrauded customers by putting bogus license plates on the automobile and offering it on OLX. He was also found to be in possession of a car (complete with a phony license plate), two mobile phones, three bogus PAN cards, three fraudulent Aadhar cards, and Rs. 10,720.
How he cheated: The accused installed phony license plates on the car and advertised the sale of the vehicle on OLX. After that, he used to steal money by defrauding customers. After that, he would make excuses—such as the fact that the automobile would occasionally not start or that he needed to make a copy of some paperwork—before eventually taking off in the vehicle. To find the car's whereabouts, the accused used to maintain a GPS in the vehicle.
What actually occurred was that this time he tricked a buyer into buying a Swift automobile from him for Rs. 2 lakh, 30,000, and then used GPS to track the vehicle and steal it by using the second key.
Manu Tyagi had previously been charged, according to the police. In addition to the district's police stations, more than a dozen such occurrences have been reported in Uttarakhand.
How to identify if a buyer or seller is fake?
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.