Report Wire - Fraud alert! Scamsters utilizing Google Pay, Phone to con you, 81 customers lose ₹1 cr

Report Wire

News at Another Perspective

Fraud alert! Scamsters utilizing Google Pay, Phone to con you, 81 customers lose ₹1 cr

2 min read
When Google Pay, PhonePe user resends the money received to the caller, its entire KYC details including PAN, Aadhaar becomes available to the online fraudster, says cyber crime expert Pavan Duggal.

Amid information of cyber criminals looting ₹1 crore from 81 Mumbaikars in 16 days via financial institution KYC, PAN rip-off, a brand new sort of on-line financial institution fraud has emerged the place a fraudster would knowingly ship cash in your account utilizing Google Pay or PhonePe gateway. After sending cash in your checking account via Google Pay or PhonePe, the fraudster would ask you to repay the cash posing because it has been ship by mistake. In a very good gesture, you’d repay that ₹10 or ₹50 quantity instantly to the callers Google Pay or PhonePe quantity and turn into a sufferer of malware assault.

On such on-line frauds are executed focusing on Google Pay and PhonePe customers, Pavan Duggal, a Delhi-based cybercrime professional mentioned, “In this mix of malware plus human engineering scam, someone knowingly sends money to your account via Google Pay or PhonePe gateway and calls you posing that the money was sent in your account by mistake and requests that you send the money back to their number. If you send the money back, your account will be hacked.”

On how this phishing is executed, Pavan Duggal mentioned, “When a Google Pay or PhonePe user repays the money, their entire data, including banking and other KYC documents like PAN, Aadhaar, etc. become available to the fraudster and these documents are enough to hack anybody’s bank account.”

Precaution for Google Pay, PhonePe customers

Pavan Duggal, who’s President at went on so as to add, “As I told earlier, this is a mix of malware phishing plus human engineering and hence anti-malware software are not going to safeguard Google Pay and PhonePe users from this online fraud. So, the best solution for Google Pay or PhonePe users is to just reply to such calls citing they asking their bank to look into the matter as the money deposited in their account has come by mistake.”

Duggal instructed Google Pay and PhonePe customers to ask the caller to return to nearest police station and obtain its cash as a substitute of giving the cash again to the sender.

Catch all of the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint.
Download The Mint News App to get Daily Market Updates.