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Want to install FASTag in your car? Beware of this fraud

IamCheated.com Research Team | January 21, 2020  12:25:pm

Want to install FASTag in your car? Beware of this fraud

It is mandatory for all the private and commercial vehicles in India to install FASTag. When FASTag is installed in any vehicle, drivers can easily pass through toll plazas without having to stop to pay the toll fees. When vehicles pass through the FASTag lane, the money is automatically deducted from a prepaid account linked to FASTag.

FASTag is really helpful as you avoid getting stuck at the toll plazas while paying the toll fees. As installing FASTag has become mandatory, vehicle owners are rushing to install it on their vehicles. But, many people are still confused on how to install FASTag on their vehicles.

Unfortunately, fraudsters are making use of this situation to cheat people and wipe out money from their bank accounts. Fraudsters pretend to help people register the FASTag and steal money. Recently a person from Bengaluru lost Rs 50,000 to this fraud.

See Also: How to install FASTag in your car?

This is what exactly happened

A person from Bengaluru recently received a call from a person who pretended to be a customer care executive of the Axis bank. He received a call after he complained that his FASTag wallet was not working. The caller sent him an online form via SMS and asked him to fill it to get his FASTag wallet working. The name of the form was the 'Axis Bank FASTag form'. The main intention of sending this form was to collect personal information including the UPI PIN.

The form demanded that the victim fill certain vital information to get the FASTag wallet activated.  The victim offered information like full name, registered mobile number and UPI PIN. After filling all this information he submitted the form. As soon as he submitted the form, the OTP was sent to the victim's mobile number and he was asked to share it with a different mobile number. As soon as he shared the OTP Rs 50,000 got debited from his bank account.

How to avoid this kind of fraud?

1. To avoid this kind of fraud, you must never reveal your details like UPI PIN, OTP, card details and other sensitive information to anyone. Always keep in mind that no banks call asking for your personal information.

2. You must know that registration of FASTag does not require submission of any password or personal banking information.

3. There are two ways through which you can activate FASTag, one is by visiting the nearest bank branch and another is through self-activation using MyFastag App.  You don't have to talk to any bank employee over the phone to register the FASTag.

See Also: Everything You Need To Know On UPI

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