Crafting fraud one call at a time
5th grade graduates of Bihar are defrauding educated customers of metros
5th grade graduates of Bihar are defrauding educated customers of metros
Unemployed youth of a village in Bihar earn lakhs with the help of online fraud. Digital wallets, digital banking and latest fin-tech products make it easy to defraud.
Jamtara district in Jharkhand is India’s cyber crime capital. About 60% of its population hasn’t worked for more than a year. Yet, it is seeing a construction boom. Fraudsters exploit the loophole in the online transaction models. They persuade users to share ‘one time pin’ (OTP), ‘personal identification number’ (PIN), bank details and passwords.
Deepu Sebastian writes in Indian Express: There is no uniform modus operandi at work in Jamtara. The only common factor is a team of two youngsters, one with a basic mobile phone and the other, a smartphone. The basic phone is used to make the call even as the smartphone is on standby with an e-wallet opened.
More digital payments mean more fraud. Debit card’s use rose by 14% , Point Of Sale by 29% and United Payment Interface has 10 crore users. Total banking fraud for the FY18 was more than INR 71,000cr.
Beware: