comscore Here is how fraudsters are trying to cheat OLX and Quikr users
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Here is how fraudsters are trying to cheat OLX and Quikr users

You may end up losing money if you don't understand how Unified Payments Interface (UPI)-based transactions work on apps. Let's showcase how this may happen when you are attempting to sell stuff on OLX or Quikr.

  • Published: August 23, 2019 10:33 AM IST
OLX

If you are planning to sell your old refrigerator or air conditioner on OLX or Quikr. First, make sure that you understand all the nitty-gritty details of digital transactions. This is because fraudsters often target users of these platforms to cheat them of money. You may end up losing money if you don’t understand how Unified Payments Interface (UPI)-based transactions work on apps. Let’s showcase how this may happen when you are attempting to sell stuff on OLX or Quikr.

As soon as you post your ad on these platforms, you may get calls from fraudsters posing as customers. They often appear ready to pay the price that you quote for the item. Sometimes they may even be willing to pay much more than what you originally quoted. The fraudster sends the money after the deal is fixed. They usually claim to send the money through PhonePe, Google Pay or other UPI apps. People can get tricked here as fraudsters “Request Money”. If someone does not read the SMS properly, they may fall prey to the fraudsters, share the OTP and transfer money to them.

People often tend to forget that if someone sends them money, they do not get OTP. “We have identified hundreds of cellphone numbers, which we suspect are of fraudsters and have blocked them,” said Lavanya Chandan, General Counsel, OLX India. OLX also rejects about 25% of the total OLX listings and ban over 100,000 suspicious accounts every month.

Cybersecurity workshops to fight the fraudsters

OLX has partnered with Cyber Peace Foundation, a civil society organization and think tank of cybersecurity. Under this partnership, Cyber Peace Foundation will conduct workshops with users. These workshops will focus on how to stay safe on the Internet, including C2C platforms. In the first phase of the initiative, OLX and Cyber Peace have rolled out workshops across the states of Karnataka and Haryana. “With our partnership with Cyber Peace Foundation, we aim to intensify our efforts in promoting the safe use of the Internet. This partnership augments and aids our initiatives in this area focused on creating a better Internet for everyone,” Chandan said.

“Our interventions are holistic and include introducing newer safety features on our app/platform, working with law enforcement, a 24X7 helpline for customer safety issues, increased technology-based fraud detection and prevention. “With Cyber Peace Foundation we are now also going directly to users to help equip them with the knowledge and confidence to use the Internet and digital platforms to their advantage,” Chandan said.

Important things to note to avoid fraud

OLX, Quikr or any other UPI-capable app users should learn more about how the payment system works on these mobile apps. Users should also be more careful and cautious about the messages that they receive on their smartphone. Beyond this, everyone should refrain from providing any personal information to anyone on the other end.

With inputs from IANS

  • Published Date: August 23, 2019 10:33 AM IST