Fastag fraud: How to avoid losing money and falling prey to scammers

Fraudsters from all around world erly wait for a vulnerable moment of people’s lives and target m using that vulnerability. It seems that this time around vulnerability is FASTag, and a FASTag fraud has already taken place. Here are all developments around incident that have surfaced so far:

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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 reports, with launch of FASTag, fraudsters have found a new way of cheating citizens. Before introduction of FASTag and UPI, pretext for fraudsters used to be excuses like verification of bank details, expiration of debit and credit cards and or such online banking related queries made on internet. As has recently come to light, reports indicate that fraudsters have started targeting FASTag recharge using UPI as one of pretexts for siphoning money from bank accounts of gullible UPI users.

Also read: How To Recharge FASTag Online? FASTag Recharge Using Paytm, Google Pay And Banks Explained

first reported incident was of a man from Bangalore who lost ₹ 50,000 to fraudsters. victim of FASTag fraud said that he received a call from somebody claiming to be an executive. fraudster sent him an online form to reactivate his FASTag account after kwing that victim had filed a complaint about his FASTag wallet t working.

Also read: How To Activate SBI FASTag? Guide To FASTag Purchase At SBI, FASTag Charges And Details

How did fraudsters siphon money from user’s account?

According to reports, Bangalore man had filed a complaint with company about his wallet being frozen. Soon after registering complaint, man received a call from fraudster as a fake employee. fraudster sent an online form named to person who had filed complaint, which was claimed to help victim reactivate his FASTag account. Expecting resolution of his complaint, victim provided personal details, including his UPI Pin and submitted form. Upon filling se details, victim received an OTP (One Time Pin) in a text mess and was asked by fraudster to send it over to ar number, which he did, leading to  ₹ 50,000 being siphoned from his account.

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How to save yourself from UPI fraud?

Since FASTag fraud has w been reported for first time, FASTag users must be wary of falling victim to this scam. Users should never share ir bank details such as debit and credit card information, or UPI PINs and or sensitive information with anyone (even if y claim to be from bank). It is only after getting access to such sensitive data that fraudsters can siphon money.

Also read: 1.10 Cr FASTags Issued Till Date For Electronic Toll Collection On National Highways

Ar way to avoid falling prey to such fraudsters is spreading awareness about FASTag. Many people are t yet aware that 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 t available over phonecalls. Authorities have advised avoiding answering such phone calls and reporting m in case of future occurrences, as fraudsters are calling FASTag users with pretext of FASTag recharge using UPI, and stealing money from ir accounts.  

Also read: All You Need To Kw About Applying For A FASTag For Your Car