With great power comes great responsibility! As history dictates, every time a new technology is introduced into the market, it’s immediately followed by numerous cases of abuse.
This is exactly what’s taken the Indian tech ecosystem by storm. Just earlier last week the FDA had ordered a FIR against Snapdeal founder Kunal Bahl and its directors. Yesterday another startup was booked by the police.
Paytm directors Vijay Shekar Sharma and Harendra Pal Singh were booked by the Madhya Pradesh police on May 3, for allegedly aiding a fraud of INR 22 lakh in which over 313 people were duped using the Paytm service. An FIR for Forgery under the IT Act has been booked against the directors.
A case has also been registered against the directors of Xenon Value Services India Private Limited, Vtech ventures, designing hub and apkacareer.com.
The fraudsters had called up customers, identifying themselves as bank managers providing loans or as executives of placement agencies with job opportunities requiring customers to pay a small amount of money as registration fees through debit or credit cards. On the call itself, the fraudsters said that there was a problem with the ATM card and thus asked the customers to share their ATM pin. The moment customers shared their ATM pins, they were alerted on their mobile about the amount debited from his account.
The accused, used mobile wallets such as “Paytm” as gateway to transfer money from the customer to their SIM card and use it for recharge, DTH and online shopping, as per the authorities.