<ul><li>South Delhi-based lending platform Lendbox filed an FIR with Delhi Police alleging a fraud of over Rs 10 crore.</li><li>Fraudsters exploited system errors and loopholes to dupe the platform.</li><li>Around 457 suspicious accounts were used in the scam to deposit cash, withdraw it twice, and raise chargeback requests with NPCI.</li><li>Due to a system error on the complainant's side, they couldn't respond to the chargeback requests, leading NPCI to direct the complainant's bank to refund the money to the fraudsters.</li></ul>

Fraudsters use system error to dupe lending platform of Rs 10 crore

Discover more