We always hear about OTP FRAUDS, calls from fake numbers posing themselves as bank staff and trying to get your card/net banking details. Have you ever tried to do something to stop such frauds or ever given a thought why there has been an exponential increase in such calls?

Well, after going through the copies of bank statement of victims,  you will notice the money is not transferred to any bank account. Mostly the fraudulent always use E-wallets services such as mobikwik, Paytm, Airtel Payments Bank,IRCTC e-wallet.

The major reason behind this is these services have no verification process for using for samll transaction say upto 10k. The fraudulent tricks innocent people to transfer their hard earnings and runs away.There is no way to track him down as these are mini banks with almost zero details of their user. 

This is the hight time these E-wallet service providers should be sued for their irresponsible use of technology.