Tech

Man Loses ₹87,000 in Flipkart app Loan Application Scam: What Went Wrong?

In a shocking incident, a man attempting to secure a loan lost a staggering ₹87,000 due to a cyber fraud conducted via the Flipkart app. With online scams on the rise, this case highlights the urgent need for vigilance in digital transactions. live Newztalkies.com sheds light on the details of the incident and offers tips to safeguard against such frauds.

Table of Contents

The Incident: How the Scam Unfolded

The victim, Sarabjit Singh, a postmaster from Ludhiana’s Kaille village, sought a loan of ₹2 lakh using the Flipkart app. However, what began as a routine process quickly turned into a financial nightmare.

Step-by-Step Breakdown

Loan Application: Sarabjit applied for the loan on Flipkart and awaited approval.
Fraudulent Call: On December 4, he received a call from an individual posing as a representative of Flipkart. The caller informed him that his loan was approved but could not be disbursed due to incomplete KYC (Know Your Customer) details.
Phishing Link: The caller asked Sarabjit to click on a link and complete an online KYC form. Trusting the process, Sarabjit complied.
Token Payment Scam: He was instructed to make a token payment of ₹5 to finalise the verification. However, ₹86,998 was deducted from his bank account instead.
Aftermath: The caller abruptly cut off communication and switched off their phone, leaving Sarabjit helpless.

Legal Action Taken

Sarabjit reported the incident to the Jagraon police station, which referred the case to the cyber crime department.

Steps by Authorities

Filing an FIR: An FIR was registered under Section 318(4) for cheating and dishonestly inducing delivery of property and Section 66(D) of the Information Technology (IT) Act.
Investigation Underway: Authorities are working to trace the bank accounts where the stolen money was transferred.

Lessons Learned: How to Avoid Such Scams

This incident underscores the importance of exercising caution when dealing with online financial transactions. live Newztalkies.com shares key tips to help readers protect themselves:

Dos and Don’ts

Verify Caller Authenticity: Always double-check the identity of callers claiming to represent a company or financial institution.
Avoid Clicking on Unverified Links: Never click on links from unknown sources, especially those involving financial information.
Use Official Channels: Conduct loan applications and financial transactions only through authorised banks or verified platforms. Avoid third-party apps unless directly associated with the lender.
Be Wary of Small Token Payments: Scammers often ask for minimal payments to gain access to your banking details. Always cross-check the legitimacy of such requests.
Monitor Account Activity: Regularly review your bank statements and transactions for any unauthorised deductions.

Conclusion

As digital platforms continue to dominate financial transactions, incidents like these are becoming alarmingly common. Staying informed and cautious is the best defence against cyber fraud. live Newztalkies.com remains committed to educating readers with authentic and actionable insights.

For more updates on online safety and tech news, keep visiting live Newztalkies.com!