MobiKwik glitch: ₹5 cr of ₹19 cr recovered after police sends notices to 75 beneficiaries
₹19 crore that was incorrectly deducted from the digital wallet company’s account due to a technical glitch last month. The money was supposed to get deducted from the customers’ accounts, but was instead debited from the firm’s account.gurgaon Updated: Oct 27, 2017 22:38 IST
The cyber cell officials have recovered ₹5 crore of ₹19 crore that was incorrectly deducted from a digital wallet company’s account after sending notice to 75 persons in connection with the incident.
The police investigation revealed that the amount was deducted from the account of the company — MobiKwik — due to a technical glitch, instead of the accounts of the wallet users.
A case of fraud was registered by the Sector 53 police under sections 420 (fraud) and 406 (criminal breach of trust) of the IPC on September 28 and the matter was referred to the cyber cell for investigation.
Anand Kumar, in-charge, cyber cell, Gurgaon police, said that after verifying the details of the entire case, notices were issued to the beneficiaries who had carried out transactions despite being in knowledge of the fact that the amount was not deducted from their accounts, which amounted to cheating.
“The investigation is going on and all other persons who got benefitted by this will face an enquiry,” he said.
During the investigation, the sleuths found that the money was to be deducted from the wallets of customers’ accounts was instead debited from the firm’s account, which resulted in a huge loss to the company.
Kumar said that most of the transactions took place due to a technical glitch but beneficiaries cheated by continuing with the transactions despite being aware of the glitch.
As per the complaint lodged by the general counsel of the company, 5,400 persons had made transactions totalling ₹19 crore. It was found that users, taking advantage of the glitch, had transferred amounts between ₹10,000 and ₹2 crore. Sources revealed that one person from Kurukshetra had transferred ₹2 crore and after an inquiry was initiated, the amount was refunded.
Officials of MobiKwik said they are unable to comment on the issue as it is being investigated.