Merchant Fraud is a new way adopted by the fraudsters to loot the customers by performing online transactions.
Many incidents are seen in which a buyer pays the money for purchasing the product but never receives it. Just like the trusted websites, Merchant Frauds sets up a fake website with goods to order with lucrative discounted offers. The information including company’s address, contact number,  policies for cancellation, return & refunds and also the payment gateway are all fake.

The fraudsters uses a personal bank account or a personal QR code instead of using Merchant QR code for transactions,  which helps the merchant imitate a legit payment gateway.  They promote their business with the help of social media platforms and then wait for the customers to get in their trap.
Buyers come to know that they are the victims of the Merchant Fraud only when they contact the PhonePe customer support team after the deadline of the product delivery passes.

TOP-UP Fraud is also one of a kind in which someone calls you claiming that he is a representative of a bank, an e-commerce site etc. Firstly, they collect few information about you and then on call they ask you for your 16 digit card number and CVV number. Getting all these details they ask you for the OTP sent to your mobile afterwards asking for verification purpose. This makes the fraudster’s bank account topped up with your money.
Many people have filed complaints against the website Komparify which deducts the money but there is no refund.

How to be Safe?

  • Buy from trusted e-commerce sites.
  • Check for customer reviews, feedback and the social media page before purchasing.
  • Don’t share your bank account details and OTPs.
  • Do not follow the instructions given to you over phone.
  • Report the fraudulent website to Google and put the the number in Truecaller’s spam list.


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