This Scam works in two ways:
You receive an offer from someone that he/she will pay your CC bill or any other bill at some discount (it can go high up to 5 or 10).
Or
Someone wants you to purchase items for them using your credit card, saying they will reimburse you. Such items are usually expensive items or gift cards of higher denominations
What’s the Scam here?
Scammers use other stolen cards or money to put money in your account to "reimburse" you for the purchases.
And you are a beneficiary here so in a way you become party to the fraud or scam. Relevant authorities may reclaim all the funds deposited with you and you will be left with Nothing.
And, If you have received such funds in your savings account, then authorities may also Freeze your account.
Freezing an account is very easy for Police these days and they do it at first instance as it gives them an opportunity to make extra money in lieu of settlement. There are instances where Bank accounts of 100s of persons are frozen from 8-9 different states just because someone Paid Rs50 for a watermelon using stolen money.
So, be careful when someone offers to pay your bills or receiving money in your savings account. The UPI era has exposed our accounts more than ever. We make several transactions daily to our friends or family members and even within our saving accounts too. One freeze on any one account will lead to Everyone’s account being frozen.
So, proceed with caution and remember authorities are here to harass you and not to help you. So, help yourself.
You receive an offer from someone that he/she will pay your CC bill or any other bill at some discount (it can go high up to 5 or 10).
Or
Someone wants you to purchase items for them using your credit card, saying they will reimburse you. Such items are usually expensive items or gift cards of higher denominations
What’s the Scam here?
Scammers use other stolen cards or money to put money in your account to "reimburse" you for the purchases.
And you are a beneficiary here so in a way you become party to the fraud or scam. Relevant authorities may reclaim all the funds deposited with you and you will be left with Nothing.
And, If you have received such funds in your savings account, then authorities may also Freeze your account.
Freezing an account is very easy for Police these days and they do it at first instance as it gives them an opportunity to make extra money in lieu of settlement. There are instances where Bank accounts of 100s of persons are frozen from 8-9 different states just because someone Paid Rs50 for a watermelon using stolen money.
So, be careful when someone offers to pay your bills or receiving money in your savings account. The UPI era has exposed our accounts more than ever. We make several transactions daily to our friends or family members and even within our saving accounts too. One freeze on any one account will lead to Everyone’s account being frozen.
So, proceed with caution and remember authorities are here to harass you and not to help you. So, help yourself.
