How to be safe from Paytm scammers

In light of increasing cases of fraud, Paytm founder Vijay Shekhar Sharma took to Twitter, cautioning users to not fall prey to scammers.

Through his Tweets, he asked Paytm users to not trust any SMS (including about lucky draws) that spoke of blocking one's account or suggested to 'do a KYC', as these were fraudsters trying to gain access to one's Paytm account.

The official Twitter account of Paytm also confirmed that "no KYC can be conducted by downloading any other app", and users must "beware of fraudulent SMS & Calls about Account Block, Account Suspension or Fake Offers". Paytm also emphasised never to share personal details such as one's 'OTP, UPI Pin, CVV' with others.

The Times of India explains that the scam is carried out by a person pretending to call from the Paytm support team. They ask the user to complete KYC in order to keep using Paytm. Then they ask the user to download an app like AnyDesk or QuickSupport and ask for a nine or 10 digit remote access desk code. Following this, the scammer can see everything the user does on their mobile phone and even record the user's phone screen from their PC. This is how they can steal Pins and passwords easily by simply noting it down when the user types it into the screen.

It is only at authorised KYC points or by a Paytm representative (in person) that KYC can be done. Paytm does not call the user and ask them to download any app for the same.