Cyber Frauds: Businessman duped of Rs 97,000 in KYC fraud

Mumbai: A 48-year-old Borivli based businessman was duped to the tune of Rs 97,000 on the pretext of updating his PayTM account by an unidentified accused. The accused told him that failing the updating of KYC formalities, the account will be terminated, and eventually lost almost a lakh after transferring Rs 10. He then approached Borivli Police and lodged a complaint.

On August 27, the complainant received a call from an unknown number, wherein a man said that if the businessman fails to update his PayTM account's KYC, his account would be blocked. In a bid to avoid termination of his account, the man asked the complainant to call him on a number. The complainant obliged and called on the number, only to be asked to send his credit/debit card account.

The complainant used the PayTM account from his wife's bank account and shared his wife's account details. The man then asked the businessman to send Rs 10 to authenticate the details and he obliged, only to later realise that another transaction of Rs 97,129 was made. Shocked by this, the businessman realised that he was duped and approached the bank to block the account.

The businessman then went to Borivli police station and lodged a complaint against the unidentified accused, who was booked under relevant sections of the Indian Penal Code and Information Technology Act for cheating. While no arrests have been made, police are investigating the matter.

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Free Press Journal