Hyderabad: Former Paytm employee duped dozens of users through KYC
A former Paytm employee based in Hyderabad found a way to cheat customers of their hard-earned money by exploiting the platform's Know Your Customer (KYC) system. He used his rights of access illegally to transfer money from their wallets to himself. The fraud came to light when a businessman approached police after being duped by Beerappa Gadda. Gadda has now been arrested.
Here's how he scammed people
Gadda worked at Paytm's Gachibowli office as a field executive. His responsibilities involved contacting customers to update their KYC and passwords. However, one day, he discovered that a lot of those people hadn't changed their passwords, so it was still the same as he had set. He then started logging in to their accounts and transferring money from their wallets to his own.
Gadda has duped at least a dozen Paytm users
After the businessman contacted police, they launched investigations and found that Gadda had duped at least a dozen Paytm users using the same MO. He was nabbed based on technical evidence.
A 'Paytm-executive' wanted customers to enter password on his phone
Incidentally, processes like KYC have opened the doors to a variety of scams. Shobhit, a Jaipur resident, recalls how a 'Paytm executive' visited their house to get their KYC done. He asked them to log in to an app on his phone that "kinda sorta looked like Paytm." He tried convincing them to enter their passwords on his app, but failed, and eventually fled.
Remember these tips to keep your Paytm account secure
Paytm users, know that you are not supposed to respond to any calls or messages that ask you to reveal your password. It is advisable not to use the same password across different platforms. Passwords should be changed regularly to ensure safety. If something looks suspicious, feel free to call Paytm customer care at 120 3888 3888 to verify the authenticity of the request.
