Desi fashion e-commerce giant Myntra that was acquired by Flipkart in 2014, has reportedly been duped of Rs 1.1 crore by cyber crooks. The company approached the Bengaluru police registering an FIR about the fraud. Scamsters abused a loophole in the refund system provided by the Flipkart subsidiary, that led to severe loss for the firm between March and June of 2024. Citing anonymous sources, TOI reports that the actual loss (not reported by Myntra) is about Rs 50 crore. A case under the IT Act and IPC sections 419 and 420 has been registered against the frauds.
The modus operandi of the fraudsters is to order branded products like shoes or apparels in bulk with COD (cash on delivery) or online as a payment option. The orders would be delivered by Myntra via its logistics division. The scamsters then would lodge a complaint over issues like fake products, color mismatch, shortage, or even non-delivery. Customers can claim a refund through this option on the app. Explaining the fraud, a police official remarked that if a person received their order of 10 pairs of socks but claimed to get only five, then the company would initiate a refund for the allegedly missing five pairs. Now scale this operation from one city to an entire friggin country over the span of months.
Per reports, Myntra was advised by the police to lodge complaints city-wise and not for the entire loss across India. Per an official the fraud is linked with a gang operating from pink city Jaipur. Earlier the cops had caught three crooks from Surat in Gujarat for defrauding Meesho of Rs 5.5 crore in refund scam.
#Myntra, a Flipkart subsidiary, reported a loss of ₹1.1 crore in Bengaluru and an estimated ₹50 crore nationwide due to a refund scam.
More details 🔗 https://t.co/jl6nHtfvnV pic.twitter.com/uyza1xgYIS— The Times Of India (@timesofindia) December 10, 2024
Myntra financial Loss ₹1.1 Crores to E-Commerce Scam#EcommerceFraud #ConsumerSafety #DigitalScams #OnlineSecurity #newskarnatakahttps://t.co/BTIQOlZEnA— News Karnataka (@Newskarnataka) December 10, 2024
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