Here is why you should not fall for OLX fraud

By Newsmeter Network  Published on  12 July 2020 7:58 AM GMT
Here is why you should not fall for OLX fraud

Hyderabad: The cyber crime police stations of the three Commissionerates in Hyderabad are receiving several complaints daily about frauds committed through the OLX platform. The cyber fraudsters are adopting modern techniques to cheat the public through OLX platform.

The fraudsters are posting fake advertisements on OLX website about the sale of different types of products such as four-wheeler, two-wheeler, mobile phones and laptops without having any of them in their possession. When a buyer intends to purchase any of these products through OLX after contacting the seller, they exchange mobile numbers and discuss the price in the chat and try to transact. The fraudster establishes trust with the buyer by sending fake pictures of identity cards, registration of documents, fake receipts, etc.

After making the buyer believe in him completely, then the fraudster begins negotiation through

WhatsApp and asks for the payment through e-wallet or internet banking and the buyer pays the amount believing that the product will be delivered in due course.

Once the amount is received by the fraudster/seller, he will not respond to the calls of the buyer. Thus, a fraud is committed with the help of OLX platform. The buyers believe that the OLX platform is authentic and think that they can buy the products in an easy way but the cyber fraudsters are cashing in on this belief and cheating the buyers.

When an article such as house furniture, washing machine, AC machine, etc., are posted on OLX by any person for sale, fraudsters contact the seller and cheat the seller saying they would purchase the article from them. Later, the fraudster either sends QR code to scan or make payment requests and knocks away the amount from the seller, as they are unaware of OLX frauds and about QR code scan or wallet transactions.

Though the OLX management is aware of the frauds committed through their platform, they seem to be not interested to check them and ensure safety of the customers.

As number of cases registered in the three Commissionerates of Hyderabad has been increasing alarmingly, a request was made to the authorities of the Department of Telecommunications for initiating suitable action against the OLX platform and it is under consideration. A deadline was also given to OLX authorities to implement certain guidelines issued by the DoT to prevent frauds.

The Cyber Crime police requested citizens not to buy any product on OLX platform unless the genuineness of the product/article and seller/buyer is verified physically, before payment.

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