Published 20:29 IST, January 23rd 2020
Fastag fraud: How to avoid losing money and falling prey to scammers
Recently, an instance of FASTag fraud was reported by an Axis Bank FASTag user. Here is everything you should know about it, and how to avoid it in future.
- Tech
- 4 min read
Fraudsters from all around the world eagerly wait for a vulnerable moment of people’s lives and target them using that vulnerability. It seems that this time around the vulnerability is FASTag, and a FASTag fraud has already taken place. Here are all the developments around the incident that have surfaced so far:
FASTag Fraud – ₹ 50,000 robbed from a FASTag user based in Bangalore via UPI
Recently, an instance of FASTag fraud was reported by leading news portals. According to the reports, with the launch of FASTag, the fraudsters have found a new way of cheating citizens. Before the introduction of FASTag and UPI, the pretext for the fraudsters used to be excuses like verification of bank details, expiration of debit and credit cards and other such online banking related queries made on the internet. As has recently come to light, reports indicate that fraudsters have started targeting FASTag recharge using UPI as one of the pretexts for siphoning money from the bank accounts of gullible UPI users.
Also read: How To Recharge FASTag Online? FASTag Recharge Using Paytm, Google Pay And Banks Explained
The first reported incident was of a man from Bangalore who lost ₹ 50,000 to the fraudsters. The victim of the FASTag fraud said that he received a call from somebody claiming to be an executive. The fraudster sent him an online form to reactivate his FASTag account after knowing that the victim had filed a complaint about his FASTag wallet not working.
How did the fraudsters siphon money from the user’s account?
According to reports, the Bangalore man had filed a complaint with the company about his wallet being frozen. Soon after registering the complaint, the man received a call from the fraudster as a fake employee. The fraudster sent an online form named to the person who had filed the complaint, which was claimed to help the victim reactivate his FASTag account. Expecting the resolution of his complaint, the victim provided personal details, including his UPI Pin and submitted the form. Upon filling these details, the victim received an OTP (One Time Pin) in a text message and was asked by the fraudster to send it over to another number, which he did, leading to ₹ 50,000 being siphoned from his account.
How to save yourself from UPI fraud?
Since FASTag fraud has now been reported for the first time, FASTag users must be wary of falling victim to this scam. Users should never share their bank details such as debit and credit card information, or UPI PINs and other sensitive information with anyone (even if they claim to be from the bank). It is only after getting access to such sensitive data that the fraudsters can siphon money.
Another way to avoid falling prey to such fraudsters is spreading awareness about FASTag. Many people are not yet aware that the RFID based FASTag is available through My FASTag app or leading banks like SBI, ICICI, Axis and HDFC. FASTag can also be activated and recharged through Amazon India and Paytm. However, FASTag recharge is not available over phonecalls. Authorities have advised avoiding answering such phone calls and reporting them in case of future occurrences, as fraudsters are calling FASTag users with the pretext of FASTag recharge using UPI, and stealing money from their accounts.
Updated 20:29 IST, January 23rd 2020
