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  • Category: Miscellaneous

    UPI has made payments so easy but at the same time caused huge losses to many

    Digital transactions have been around for long and with new means of payment like UPI and Virtual Credit cards and wallets, financial transactions have become so much easier and convenient. Low value payment can be made in a few seconds. Also, cash transactions have come down significantly. During this time of panademic, digital transactions have made made a huge difference by reducing the exchange of cash and to some extent preventing spread of virus.

    Athough, digital transactions have added to lot of convenience but also added to misery of many as many have lost a lot of money to frauds and illegal transactions by conmen. Many people have been compelled smartly to reveal the OTP received on their mobile and instantly money deducted from their bank account. Senior citizens as well as young have fallen prey to such frauds. I personally know of 2 people in my contact who lost money from Rs.10,000 to Rs.50,000. One peron lost Rs. 10,000 on OLX and another Rs. 50,000 while calling Zomato customer care.

    How many other member have known or faced such frauds while transacting digitally.
  • #708632
    True. I lost Rs. 300/- by booking an item online. It was an attractive bed. During the process of ordering, I wanted to have it delivered as COD. But COD option was not there. I paid the money through PayTM. Alas! I did not get any receipt from the shopper. Further communication was not possible as the concerned number is not being attended to. It is a fake online company (Life fashiones). Now I see the same ad appearing for Rs, 999/-
    No life without Sun

  • #708634
    One of my relative has lost 40,000 rupees through online transactions and that person is always particular in money transactions and in spite of all his precautions he lost money. He booked rail ticket and afterwards the next transaction he lost the money. It is clear from the author's submission and above response that the frauds are appearing when we visit the popular website and make payments and how our data being stolen to make payment to themselves.Probably they are using the OTP number which has the effect for five minutes and thus the money has been swindled. It is the fact that online transactions are told to be safe, but the fraudsters has their own game plan to fool the public and milk their money. Especially the ladies must be careful with this kind of frauds as they easily believe in everything and commit actions.
    K Mohan @ Moga
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #708640
    We have not lost any money because of this online transactions. We are doing many online transactions before COVID itself. During that period one incident happened in our house. That happened due to a mistake only and we have not lost any amount because of that transaction.
    My son has transferred Rs.3.00.000/- from his bank account to another person's account towards purchase of a piece of land. But while entering he entered the last digit wrongly. The next the person who is supposed to receive the money phone up told me that he has not received the money. Immediately I checked with my son and found the mistake. We have approached the bank and gave a letter to revert the money. I Know a senior official in the receiving bank. I talked to him and found that the amount was credited in another person's account. He coordinated with the other person and seen that the money will come back to my son's account. This total deal tool for 5 days. After that, we transferred the amount to the correct account.
    We should be careful while doing the transactions. This method is very convenient and simple if we are alert.

    always confident

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