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60 Year Old Man Becomes Victim Of Paytm KYC Fraud Worth Rs.13 Lakh

| Published on December 31, 2019

Online payments are mostly secured but ‘mostly’ is NOT a synonym for “All The Times!” We have become so much comfortable with online transactions that we seldom think twice while making them.

Hers is the case of a 60-year-old man who got caught into a Paytm KYC Fraud over Rs.13 Lakh. Let’s get into the highlights of this scam!
paytm fraud

Paytm KYC Fraud Worth Rs.13 Lakh

A 60-year-old man who is a managing director of a manufacturing company (machinery) got phone calls by two people named Rahul Sharma and Rohit Sharma. They mentioned that the call was regarding the update of KYC (Know Your Customer) on Paytm.

They also said that due to this update, Rs.1 will be deducted from his bank account and the victim trusted and shared his information with these people. Little did he knew that after a few days, Rs.13 Lakh will be deducted from his bank account, the one linked with Paytm!

The police have quoted that the case has been filed against those two people under IPC sections 419 (cheating by personation), 420 (cheating and dishonestly inducing delivery of property) and the Information Technology (IT) Act.
paytm fraud

How To Avoid Paytm Scam?

First of all, do not use such applications unless or until you are completely aware about how they work!

Secondly, be careful of the kind of things they are demanding from you. If they want sensitive information such as bank details, Adhaar Card Number, OTPs, etc., then stay away!

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