In a recent incident, a Pune-based company was tricked into losing ₹22 lakh after fraudsters sent them an email that appeared to be from a legitimate supplier. The email contained a link that, when clicked, installed malware on the company’s computer system. The malware allowed the fraudsters to access the company’s email and bank accounts, and they were able to transfer the money out of the accounts.
In this case, Castler Escrow could have prevented the scam. If the company had used Castler Escrow, the funds would have been held in escrow until the goods or services they were paying for had been received. This would have prevented the fraudsters from getting away with the money.
Here are some of the ways in which Castler Escrow could have prevented the scam:
- Castler Escrow would have provided a secure platform for the company to communicate with the fraudsters. This would have made it more difficult for the fraudsters to trick the company into clicking on the malicious link.
- Castler Escrow would have verified the identity of the fraudsters. This would have ensured that the company was not dealing with a legitimate supplier.
- Castler Escrow would have held the funds in escrow until the goods or services they were paying for had been received. This would have prevented the fraudsters from getting away with the money.
How to Use Castler Escrow to Protect Yourself from Scams
If you are considering using Castler Escrow to protect yourself from scams, here are some steps you can follow:
- Create a Castler Escrow account. You can create a Castler Escrow account by contacting our escrow experts.
- Initiate a transaction. Once you have created an account, you can initiate a transaction by providing the details of the transaction, such as the amount of money involved and the terms and conditions.
- Deposit the funds into escrow. Once you have initiated a transaction, you will need to deposit the funds into escrow. This can be done through a variety of methods, such as credit card, debit card, or bank transfer.
- Release the funds. Once the terms and conditions of the transaction have been met, you can release the funds from escrow. This can be done by clicking a button on the Castler Escrow website.
By using Castler Escrow, you can protect yourself from scams and ensure that your money is safe.