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Beware of this fraud before selling things on Olx and Quikr

IamCheated.com Research Team | September 19, 2019  9:01:am

Beware of this fraud before selling things on Olx and Quikr

OLX and Quikr are online platforms where you can buy and sell services and goods like electronics, furniture, bikes, cars and so on. In order to sell on these platforms, the seller has to submit ads on the website. These platforms have really helped people buy and sell used products online. If you like the product advertised on the platform, you must contact the seller and make the purchase. But the sad part is; fraudsters are using these online marketplaces to cheat people and make quick money.

Fraudsters have come up with various tricks to cheat buyers and sellers on OLX. In this blog, we will discuss the biggest trick used by them. Many people, including the smart well-educated citizens living in big cities, are falling prey to this fraud. Under this fraud, criminals are making use of app-based payment services and UPI to trick people. Lack of understanding on these payments has helped fraudsters make quick money.

See Also: How People get cheated on OLX: Review by IndianMoney

Here is everything you need to know on this fraud

Under this fraud, fraudsters call sellers who have posted advertisements on OLX and Quikr. Normally, sellers get a call immediately after posting the advertisements. Fraudsters say, they are interested in buying the products for which advertisements have been posted.

The caller will not bargain, instead, he will agree to the price quoted by the seller. Genuine buyers normally bargain while buying via Olx or Quikr. Sometimes, sellers even get calls from multiple numbers at quick intervals who say that they are ready to pay double or triple the expected selling price of a certain product.

Once the seller agrees to sell the product, the buyer promises to pay the entire amount or booking amount via Google Pay, PhonePe or other UPI apps. Cheating actually happens here. Instead of transferring money, the fraudster will use the “Request Money” option on UPI apps to ask for money from the seller. This is when many people get cheated. Without reading the message sent by the UPI apps properly, they simply click on it and transfer money to the fraudster's account.

How to stay safe from this fraud?

1. If the buyer is not bargaining or is ready to pay a very high amount for the product, then you have to stay alert. Genuine buyers normally bargain while buying the products.

2. To avoid fraud while buying or selling on OLX and Quikr, you must meet the buyer or seller in person.

3. Never share your OTP or any other personal banking details with anyone.  You must keep one thing in mind. You will never receive an OTP if you are receiving money from someone, the OTP will be sent when you are transferring money from your bank account.

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