BEWARE: Cyber phishing without OTP, new Paytm KYC scam: Know full Paytm KYC process to avoid fraud

Paytm fraud is rampant these days. Money can also disappear from your account through these apps. To be safe you should know the complete Paytm KYC process.

Nowadays, due to the increasing use of phone and internet banking, various types of cybercrimes are coming out. Till now it was advised by the bank not to share the PIN or OTP number of your debit/credit card with an unknown person. But now with more digital money transfer and wallet services available, fraudsters have discovered new ways of online phishing.

In this new way of Paytm KYC, fraud money can be phished out of your account even without OTP. Vicious economic crimes are such a crime these days. Such criminals call you and offer you some kind of help or monetary benefit. For this, they ask you to download any particular app on your mobile phone or laptop. As soon as you download the app, all your information related to the bank is stolen.

How these Paytm scam cybercriminals trap you

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These cybercriminals call you and trap you. You may get a call that your Paytm account KYC verification needs to be done. The caller threatens you that if the KYC verification is not done, then your Paytm account will be closed in 24 hours.

Considering the caller as an employee of Paytm, you may ask him to come home and do the verification. But the caller may refuse to come citing the COVID-19 pandemic situation. He will insist that since he cannot come for physical verification, you may have to get this verification done online.

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The caller asks you o download the 'Quick Support' or some similar app on your mobile. After this, the caller hacked hacks your phone in a very smart way by asking for ID. Once the phone is hacked the caller will now ask you to do a transaction of rupee one through your Paytm wallet.

The scammer will insist on sending one rupee to your Paytm wallet. By the time you do this through your bank account, he will register your confidential details like credit/debit card PIN or banking passwords.

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While keeping you engaged in the call the person will phish out all the amount from your bank account.

How to avoid such a Paytm KYC Scam?

According to the cyber expert, a person sitting far away from an app like Team Viewer or Quick Support also takes full rights to your phone or computer. With this, anyone can fix your system by doing axes. Nowadays cybercriminals are misusing them to steal information from the systems of others.

1 - While downloading the app, it is warned that they should give information about its ID only to those who trust it.2 - By telling the ID of an app, your personal information can be stolen.3 - Do not download the app without reason4 - If something goes wrong in the system, fix it with those whom you know personally.5 - If someone says to transfer money to an account, do not do it at all.

Know all about Paytm KYC process

1. Paytm KYC can only be done at authorized KYC points2. KYC can also be done by an authorized Paytm representative at your doorstep.3. Paytm SMS regarding KYC only for appointments with authorized KYC agents or with links to find nearby KYC points.4. Paytm KYC can only be completed by having a face to face meeting with a Paytm authorized agent or at an authorized KYC point.5. Paytm never calls you or asks you to install any app for KYC verification.