Paytm Mobile Solutions — fraud transaction via paytm wallet

Address:

Bellary, Karnataka, 583101

Hi..

Please take note of the fraudulent transactions happening through Pay TM wallet and take immediate and necessary steps to arrest such transactions and also reverse the amount that is debited to my Debit card.

On 11th Nov, Some Miscreants have called on my mobile Number and have taken information about Debit card and my Account is debited by Rs.9999/-. The message reads that the amount is transferred to a Pay TM Wallet and reads as below.

"Thank you for using your SBI Debit Card 510XX7831 for a purchase worth Rs9999.0 on POS PAYTMWAL1210203 at PTM*PAYTM txn# 121972.If not done by you, forward this SMS from mobile number registered with SBI to [protected] to block your card. You may also call[protected]"

Immediately I have complained to SBI and blocked the card and tried to reach PAT TM to arrest transfer of funds from the wallet to another Vendor / Wallet. But surprisingly, the IVRS do not allow us to speak to customer Care, as your IVRS under Fraud segment, do not entertain complaints other than the ones happened on complainant’s Wallet and IVRS also does not allow unless we enter the transaction reference number. I have immediately mailed on the available Email IDs in the public Domain.

I request you to investigate on the said transaction. The amount transferred by the Miscreant is within the Limit of 10000/- set by you for relaxed KYC norms. This has enabled siphoning of Money. In normal course of a POS transaction, the amount is credited to the Vendor’s account (on whose POS the card is used) only at the End of Day, there by averting / reversing if any Fraud transaction takes place. Your Wallet on the other hand allows a person to transfer / Spend the amount immediately on receipt, though the source may be Credit card / Debit Card, indirectly enabling such frauds. This incident indirectly suggests the dangers of E-Wallets, which I feel should be reported to RBI. I request you to reverse the amount to my Debit Card immediately and take necessary steps, else the same will be reported to RBI & MOF who while encouraging Digital Transactions have not properly warned the License Holders of Wallet Money like PayTM Mobile Solutions to have such checks in place.

Regards
Srinivas
[protected]