New digital hoax targeting Paytm users now on the prowl, stay safe

If you use Paytm, then stay alert as there is a new scam – and a scamster on the prowl that is alarming. This has everything to do with a message that forces users to download malicious apps to complete KYC verification. If you fall prey to these hoaxes, you would be exposing yourself to scamsters.  

The Paytm hoax message 

Now, this message, usually received on SMS, states, “We Will Hold Your Paytm Amount After Sometime Complete Your PayTM KYC Paytm Office.” This is clearly fake. Even Paytm has issued clarifications, on LinkedIn, warning users to stay away from such hoaxes.This scam reportedly forces users to download remote access apps. In the guise of verifying KYC, all user details are leaked to fraudsters and cyber-criminals. The above message also displays a number for users to call. PayTM is now asking user snot to entertain these aspects and desist from calling the number. Hence, do check out if you have received the above message. To reiterate, it is a hoax, do not fall prey. 

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“Fraudsters often scam people by forcing them to download remote access apps to complete KYC. Do not entertain such calls or SMS. Stay Vigilant, Stay Secure!," stated Paytm in an official warning. Do check out now.  

In related news, Paytm is said to be investing as much as Rs 500 crores in early-stage Indian startups. Technology such as Artificial Intelligence (AI) and Machine Learning (ML) are reportedly the key focus for Paytm in its startup investments endeavour. “The company has set aside Rs 500 crore to invest in early-stage companies that build complementary technologies augmenting the digital ecosystem," Paytm said in a statement to the Press Trust of India. "We are well aligned with our country's mission to ensure the benefits of the digital revolution reach the last mile. We partner with startups who have capabilities that augment the digital ecosystem for the next wave of growth. 

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