Paytm KYC Fraud: How to keep yourself safe from online scam

Paytm KYC Fraud: Digital payments have made our lives easier. From online shopping to bill payments, we can do everything right from the comfort of our homes. With that comfort, the safety of our money takes a bit of a hit. While these digital payment platforms are making sure everything is secure, hackers and fraudsters still try to sneak into your account. Paytm has just seen a hit by online scammers where 190 Paytm users duped of Rs 1.13 crore on the pretext of KYC update.


Lately, hackers have been using this neat trick to get into people’s Paytm accounts. This trick basically requires the scammer to call or message a person and scare them about the KYC verification. If influenced enough, the user shares his information with the hacker and they get into their account.

Back in December 2019, Paytm founder, Vijay Shekhar Sharma made a tweet about these fraud messages. In his tweet, he requested his customers not to fall for such messages. He wrote, “Pls don’t trust any SMS send of blocking your Paytm account or suggestion to do a KYC. These are fraudsters attempting on your account. Pls RT.”


Not only that Paytm keeps on warning its user about such scams. A recent tweet from the official account of Paytm uses a hilarious context to spread the message about staying away from frauds.


How can you stay away from such frauds?

One should immediately know that the message is from a scammer that says something like, “Dear customer, your PAYTM Wallet has been Blocked and Hold. Your Amount Please Complete Your PAYTM KYC. Contact Customer Care 7827520873”


If you have already done your KYC, you should ignore such messages and report about the same to Paytm. In case you are wondering what the real messages would looking like, they usually drop in from something like “VK-PAYTM” instead of a regular phone number.


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