Online payments via smartphone apps, e-commerce and ride aggregators do make shopping and mobility easier, but that comes at the cost of personal KYC data. This is why consumer confidence is shaken when known social media or digital platforms, who they trust with information, are hit by a data breach.
When Hyderabad police arrested a man allegedly selling data of 67 crore users of apps such as PhonePe, Paytm, Amazon and YouTube, it naturally caused alarm.
PhonePe reassures customers
Now PhonePe has come forward with a statement denying his claims, and has assured consumers that its data hasn't been leaked.
They also added that the firm is cooperating with the agencies and is educating its customers so that they don't fall for social engineering scams.
PhonPe distanced itself from the reports which mention data leaks that were carried out via third-party sources.
Not just firm knowing their customers
Vinay Bhardwaj, who claimed that he had customer data from major platforms for sale and delivered it via cloud drive links, was arrested from Cyberabad.
The purported PhonPe data included names, banking details, personal email ID, PhonePe numbers, and addresses of 1.8 lakh customers.
While PhonePe has issued clarification, data of 50 lakh Paytm customers and 10.2 lakh Amazon users was also retrieved from the cybercriminal, among others.
This is the second case of data leak busted in Cyberabad in just one month, after a gang of seven was arrested for stealing and selling sensitive information of government institutions.
