That! You read that right. Paytm It is one of the most popular wallets, UPI application, because it can be easily found all over the country, from a large shopping mall, clothing store, car or taxi that you booked online, the nearest store or barber where you have a haircut from. Now some people are abusing the popularity of Paytm because they created a fake Paytm app. Today I will share with you how this app is being misused and how you can save yourself from such a scam.
Such suspicious websites are circulating fake / spoof PayTM. It claims to offer a fake version of the popular PayTM app, which generates a fake payment confirmation. Fraudsters use these fake payment slips to commit fraud with innocent store owners and with whom such fraudsters need to pay. Such scams are harmful to both traders and dealers, let me tell you how.
How dangerous is a fake Paytm app?
The Paytm scam circulating on the web is dangerous for fraudsters as well as for traders.
- Fraudsters can deceive merchants / merchants by showing false proof of successful payment.
- These payments never reach the merchant. Leads to 2x loss.
- Because the app is circulating from suspicious sites, the app itself can turn out to be malware. It can also infect a phone scammer.
- There is always a risk of loss, because a fake application developer also cannot be trusted.
- Paytm has already learned of such fraudulent / fraudulent scams and is already taking the necessary steps.
- Fraud of someone is a criminal offense under section 420 of the Indian Penal Code and can be punishable by up to 7 years in prison.
Also, read | 5 Ways To Report Online Shopping Scam In India
There are several ways to stay safe from such fake / spoof PayTM scams and scams. If you are a trader, you can follow these to stay safe after someone sends you money:
- Check the SMS payment notification.
- Application notification notification for payment confirmation.
- Use the PayTM Business App to check the details of each transaction.
- Confirm payment with PayTM Soundbox, which immediately confirms payment, in your local language. You can sign up for your own PayTM sound box here.
In this article, I shared what a fake Paytm app fraud is, which are the consequences for both the fraudster and the merchant / merchant. And ways to stay safe from such Paytm scams. Follow us for more such tips and tricks.
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