How Castler Escrow Could Have Prevented a Rs. 6 Lakh Cyber Fraud

In a recent case, a Vadodara-based pharmacist named Rajesh Rathwa lost Rs. 6 lakh to a cyber fraud gang. The fraudsters had called Rathwa and claimed to be from Axis Bank, his credit card issuer. They told him that they could activate his credit card for free and also waive off the annual fee. Rathwa fell for the scam and shared his personal and banking details with the fraudsters. The fraudsters then used these details to make unauthorized transactions on Rathwa’s credit card.

If Rathwa had used Castler Escrow, he could have been protected from this scam. Castler Escrow is a platform that allows buyers and sellers to conduct safe and secure transactions online. When a buyer and seller use Castler Escrow, the funds are held in escrow until the transaction is complete. This means that the buyer’s money is protected until they receive the goods or services they have purchased.

In the case of Rajesh Rathwa, if he had used Castler Escrow, the funds would have been held in escrow until his credit card was activated and the annual fee was waived off. Once these conditions were met, the funds would have been released to the fraudsters. However, since the fraudsters would not have been able to activate Rathwa’s credit card or waive off the annual fee, the funds would never have been released to them.

This is just one example of how Castler Escrow can help to protect people from cyber fraud. If you are concerned about the safety of your online transactions, you should consider using Castler Escrow.

Here are some additional ways in which Castler Escrow could have helped Rajesh Rathwa:

• Castler Escrow would have provided Rathwa with a secure platform to communicate with the fraudsters. This would have made it more difficult for the fraudsters to trick Rathwa into sharing his personal and banking details.
• Castler Escrow would have required the fraudsters to provide identification and proof of address. This would have helped to verify their identity and make it more difficult for them to commit fraud.

Overall, Castler Escrow is a valuable tool that can help to protect people from cyber fraud. If you are concerned about the safety of your online transactions, you should consider using Castler Escrow.