Man held for siphoning off money from merchant wallet
File Photo

The Maharashtra cyber cell unearthed an online PayTM fraud using social engineering and arrested a 25-year-old man from Milind Nagar in Ghatkopar on Monday. The accused had allegedly siphoned money from several people's PayTM account, posing as its employee. The accused, identified as Munna alias Fashiuddin Ansari, was booked under relevant sections of the Indian Penal Code and Information Technology Act.

According to state cyber police, they had received a complaint from a city-based dairy trader, who claimed that ₹50,448 was withdrawn from his PayTM account on August 20 and September 20. While the complainant had not authorized any transfer or payments, he approached police and lodged a complaint. Since this issue could have a cascading effect, the Maharashtra Cyber Police team immediately took cognizance of the complaint and swung into action.

During the probe, it was revealed that the accused, Ansari, had stolen the PayTM account details and passwords from the business owners and used them to withdraw money from their accounts fraudulently. During the probe, cyber police found that Ansari was the culprit and he had stolen Paytm account passwords of several traders and had fraudulently withdrawn money. This racket saved thousands of hard earned money of the small business traders and farmers, who were the prime targets of Ansari, said an official.

Maharashtra Cyber also issued a warning for the citizens to not share privy account information with anyone who offers to open a Merchant wallet account, as it gives them access to the business account, who can then embezzle money. Police also advised citizens to always keep changing passwords to keep away the scamsters who prey on such victims.

Meanwhile, a Paytm spokesperson said, "We have received information about a contractor who allegedly has copied the merchant's credentials while the merchant was typing password and misused it for personal gain. We would like to put on record that this person is not an employee of Paytm. We are cooperating with Maharashtra Cyber Police to provide them the required information and we are extending our full support to the investigation."

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