Spoofed apps turn tricky for traders
Hyderabad: The digital age is also becoming the age of spoofing. From spoofed websites to email spoofing and spoofed browsers, the latest trick from fraudsters is the spoofed eWallet. With more traders turning to digital payment platforms including eWallets for accepting payments from customers, fraudsters are now duping traders using spoofed apps. On Monday, the […]
Hyderabad: The digital age is also becoming the age of spoofing. From spoofed websites to email spoofing and spoofed browsers, the latest trick from fraudsters is the spoofed eWallet.
With more traders turning to digital payment platforms including eWallets for accepting payments from customers, fraudsters are now duping traders using spoofed apps.
On Monday, the Vanasthalipuram police caught two youngsters from Ibrahimpatnam, who duped a mobile accessories shopkeeper of Rs 2,800 after purchasing a few items. The duo, according to the police, tricked the trader, using a spoofed Paytm app.
The police, who booked the youngsters under Sections 420 of IPC and 66C and 66D of the Information Technology Act, said fraudsters were now downloading spoofed apps of e-wallets from various platforms easily and installing them on their mobile phones. “After visiting a store, they make purchases and on the pretext of transferring cash through e-wallet, key in details like phone number, shop name, amount and other details in the spoofed app to create a fake payment notification. The spoofed Paytm app also sends a payment notification to the shopkeeper’s account but no money is originally credited to his bank account,” Cybercrime ACP (Hyderabad) KVM Prasad said.
Shopkeepers are generally busy dealing with customers and after having a look at the payment notification on the mobile phone of the buyer, allow them to leave the store. “If doubts are raised by store owners, the fraudsters convince them saying there might be a delay in updating of the bank account,” he said.
A few cases were reported in Hyderabad earlier too, of conmen adopting this modus operandi to cheat traders. The police had also caught gangs who created spoofed apps and circulated those among their accomplices who would then go around and trick shopkeepers.
Meanwhile, Paytm has listed out several other ways to allow its merchant partners to avoid getting conned. Merchant partners can check details of every transaction, download daily or weekly reports and also gain access to vital business information like estimated time of bank settlement, among other things.
It has also stated that a Paytm soundbox can be installed to get instant audio confirmation for payments. The Paytm soundbox supports payments on Paytm QR codes through multiple payment methods – Paytm Wallet, Debit & Credit Cards, Net Banking and BHIM UPI.
Merchant partners should also watch out for the confirmation ticker on the Paytm App, the company stated.
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