Home / Money / Personal Finance /  How cyber criminals are using real estate broker sites to execute online fraud?

If you are planning to find a suitable renter or a buyer for your real estate property with the help of a real estate broker site, then you need to remain extra vigilant against the cyber criminals. There have been cases these days when online fraudsters are using realty broker portals posing themselves as a buyer or a renter to execute the fraud.

By showing urgency on their side, they will confuse you by diluting your concentration and fish out your confidential information by asking you to click at the given link or scan the QR code, etc. 

Sharing his recent experience with a cyber criminal, a victim who kept his cool during the conversation said, "I was trying to put a property on rent and posted it on a real estate broker website. In next few minutes, I received a call from a person posing himself as an Army officer. He insisted on finalizing the deal fast, asked for some pictures of the property and said he is okay with the property. Immediately, I received his PAN card, army canteen card and Aadhaar card. The caller thereon insisted me on sharing my Gpay number linked with my bank account so that he could transfer the two months rent in advance. In fact, he also asked for my UPI account number, which I declined politely."

According to cyber crime experts, one need not to scan any QR code or click at any given link for accepting money. In fact, a receiver need not to do anything to receive money, it's the sender who is required to follow the rules and guidelines in regard to online money transfer.

The property owner went on to add, "Later on the caller said that he is sending 5 into my account as test transfer. Once the money will come to my account, he will send the rest amount in my account through UPI transfer. However, to my surprise, he sent a QR code, asking me to scan. But, before scanning the given QR code, I first transferred my entire amount into my other bank account and then scanned the QR code, which failed. The caller again sent a QR code and the transaction once again failed. After doing it for few more times, the caller got infuriated and disconnected the call."

Explaining how the online QR code fraud works, New Delhi-based cyber crime expert Amit Dubey said, "In QR code scan fraud, an unknown person calls the potential victim asking to scan the given QR code to receive the amount. However, the receiver must remember that one need not to scan or click at any given link to receive money. It is for sending money to other's account."

In just a single click, online fraudsters fish out all your credentials like bank account, your customer ID, PAN card and Aadhaar card number, etc. Experts advised money receivers to be alert and keep these things in mind while making any such money transaction to an unknown person.


Asit Manohar

Chief Content Producer at Live Mint Digital Team
Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
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