New Delhi, Sep 17
A major fraud of around Rs 40 crore has raised serious concerns about the safety of fintech platforms after Gurugram Police arrested six people for exploiting a technical glitch in the MobiKwik app.
In that case, at least 11 customers were duped into paying amounts ranging from Rs 8,510 to Rs 35,000, with the total fraud amounting to Rs 2.08 lakh.
In Mobikwik case, police officials said that about 2,500 bank accounts were linked to the fraud, all of which have now been frozen.
This resulted in wrongful gains for the accused and losses for the company. The police have registered a case under Sections 318(4) (cheating of a valuable security) and 314 (dishonest misappropriation of property) of the Bharatiya Nyaya Sanhita (BNS). Officers said the probe is still on and more people involved may be identified as the investigation progresses.