Latest News : Beware of PAYTM KYC Fraud Call , Message , Link

Latest News : Beware of PAYTM KYC Fraud Call , Message , Link 

what is paytm ?

Paytm (similar to ATM) is an Indian e- commerce

payment system and financial technology company, based out of Noida, India.

Paytm is available in 11 Indian languages and offers online use-cases like mobile recharges, utility bill payments, travel, movies, and events bookings as well as in-store payments at grocery stores, fruits and vegetable shops, restaurants, parking, tolls, pharmacies and educational institutions with the Paytm QR code. California based PayPal had filed a case against Paytm in the Indian trademark office for using a logo similar to its own on 18 November 2016. As of January 2018, Paytm is valued at $10 billion and its planning to launch its ipo in 2020.

What is PAYTM KYC ?

KYC stands for Know Your Customer. The aim of doing KYC is to prevent banks from being used unintentionally or for the wrong purpose.

Need of KYC

As per the guidelines of RBI (Reserve Bank Of India) all customer of any wallet or bank who want to use for higher balance (Limit will increases) for sending money or for another purpose.

We recently read reports that scammers called Paytm customers to ask them to reactivate their KYC. When making such calls, these scammers tell the client to install remote access applications such as AnyDesk, TeamViewer and QuickSupport to help them with the KYC process.

After installing the application, they ask the client to accept the permissions requested by the application and to request a unique address code, which is generated in the application. This allows fraudsters to remotely access the client device to monitor, use phone data and banking applications on the victim's smartphone.

In the face of increasing fraud, the company has also warned its customers against false messages trying to trick consumers into making money and other offers. The magazines that run the rounds say your KYC is complete and you have received a refund / offer; click the link to access the offer.

Obviously, such messages should be reported to the company or ignored because they come from scammers who want to cheat their money consumers.

So Please do not share any pin related to your bank account , paytm , ect [other payment app] .