Bengaluru Software Engineer Scammed in OLX QR Code Fraud

Background: A 27-year-old software engineer from Bengaluru, Siddarth (name changed), became the victim of a QR code scam while attempting to sell his air cooler on OLX. This case highlights the dangers of trusting unsolicited offers and demonstrates how scammers exploit digital payment systems to trick individuals.

Incident Overview: Siddarth posted an ad on OLX to sell his air cooler for Rs 5,200. Within three minutes, he received a response from an individual who introduced himself as “Srikanth Varma,” a used furniture showroom owner in Whitefield. The scammer agreed to purchase the air cooler at the listed price and claimed he would make the payment and collect the item later through a courier.

Scam Execution:

• Initial Contact: The scammer sent a QR code for Rs 5 as a test payment. Siddarth scanned the code and received the Rs 5 successfully, which built his trust in the process.
• The Fraudulent Request: Srikanth then sent another QR code, this time for the full payment of Rs 5,200. However, when Siddarth scanned it, the money was debited from his account, not credited.
• Continued Deception: The scammer explained the error as a “technical issue” and sent another QR code for Rs 5,200. Siddarth, eager to receive the payment, scanned the code again, only to experience another deduction from his own account.
• Escalating Losses: This cycle of sending QR codes and receiving debits continued until Siddarth lost Rs 1.9 lakh, at which point he realized he had been scammed.
• Realization: When the scammer asked Siddarth to send his bank account details to add him as a beneficiary for the refund, Siddarth refused. He immediately contacted his bank to block his account and filed a complaint with the Adugodi police.

How the Scam Worked: The scam relied on the victim’s belief that scanning a QR code would result in receiving money. However, scammers exploit this by sending codes that allow them to withdraw funds from the victim’s account rather than depositing money.

Protection Measures:

1. QR Code Scanning: It’s important to remember that scanning a QR code is only used to send money, not receive it.
2. Verify Offers: Be cautious of unsolicited buyers and offers, particularly on platforms like OLX, where scams are prevalent.
3. Avoid Sharing Bank Details: Never share sensitive banking information with strangers, especially when they request it via WhatsApp or other unverified communication channels.
4. Use Trusted Payment Methods: Always use trusted and verified payment platforms, and avoid scanning QR codes from unknown sources.

Conclusion: This case serves as a reminder that digital payment systems, while convenient, can also be exploited by scammers. Victims often lose large sums of money before realizing the fraud. Vigilance, verification of payment methods, and awareness of how payment systems work are essential to protecting oneself from such scams.