OLX have revolutionized how we buy and sell online from furniture to electronics. The popularity of OLX brings an increase in online scam cases.

In this blog, we explore OLX scam- how they operate, and to protect yourself.

What is an OLX Scam?

An OLX scam is the fraudulent use of the OLX site. Cybercriminals deceive users to rip them off their cash or steal their identity. People buying and selling things online makes it easy for cybercriminals to con them.

Common Types of OLX Scams

Fake Buyers Offering Advance Payments:

A cybercriminal cons you by showing interest in your product and makes a fake buy. Cybercriminal offers to pay an advance via e-wallet or UPI. The buyer doesn’t get the money in the account and gets a link that looks like a payment confirmation. The link leads the buyer to a phishing site. Cybercriminals capture your account details, and transfer money into their account.

QR Code Scam:

QR Code Scam aims the sellers. A Cybercriminal asks you to scan a QR code to receive the payment. The seller scans the code and authorizes a transaction from the account. The fake QR code actually allows cybercriminals to siphon money from sellers account !

Fake Product Listings:

Cybercriminals post fake adverts for products like smartphones and cars with attractive prices. Then, cybercriminals demand an upfront payment to ‘book’ the product. After receiving the money, the ‘business’ closes the shop, leaving the buyer empty-handed.

Impersonation Fraud:

Cybercriminal pretends to be from OLX’s support service person. Cybercriminal contacts the user by phone, text messages to notify a transaction problem. To rectify the issue, they send an OTP or other account details to fix the problem. User discloses of these details leading to financial loss.

How to Protect Yourself from OLX Scams?

• Do not make advance payments of any form before you physically assess the products.

• Do not disclose OTPs, account details to anyone belonging to OLX or a buyer/seller.

• Review the profiles and look for signs to confirm the account is genuine.

• When you suspect a cybercriminal, block them and report their profile to OLX.

What to do if You fell Victim of an OLX Scam?

• To contact your bank and report on the unauthorized transaction is crucial. The bank freezes your accounts to prevent further money loss.

• File a complaint to the Cyber Crime Portal (www.cybercrime.gov.in) or report at the nearby police station.

• Report to OLX.

Conclusion:

OLX is a great platform for buying and selling, but it’s essential to stay alert to potential scams. Always verify offers, avoid sharing sensitive details, and report suspicious activities. Cybersecurity Awareness is the way to stay vigilant from online scams. Stay cautious, and enjoy safe trading on OLX!

Secure Network Solutions (SNS) encourages cyber education. We conduct Cybersecurity Awareness Workshops to customers. Share us your interest via [email protected] to learn more on Cybersecurity Awareness sessions.

Author

NK Mehta