Axis Bank card gamers arrested by Ahmedabad Cyber Crime, did txns more than Rs 100 crores

[bugmenot]

We have seen the brutal devaluations in Axis Bank credit cards. Many gamers have abused the system rampantly. Two guys from Gujarat collected lot of points by using the loopholes of Axis Bank cards and JioMart app. The points were redeemed for gold coins. Check out the complete news text taken from https://www.gujaratheadline.com/ahm...rrested-scammer-misusing-jiomart-shopping-app. The Divyabhaskar newspaper also covered the story. Check attached newspaper clippings.

Accused arrested by Ahmedabad City Cyber Crime Branch for cheating using JioMart Shopping App

Investigation made based on complaint registered at Cyber Crime Branch, Ahmedabad city, accused formed a criminal conspiracy and bought Axis Bank Credit Cards in the names of different persons, after knowing technical loophole of JioMart Shopping App and Axis Bank Credit Card department, they paid using Axis Bank credit card for shopping on JioMart Shopping App and got Reward Points in their Credit Cards.

They used to cancel the order before its delivered, buy transferring Reward Points in their Credit Cards, accused purchased Gold Coins from Online Shopping websites like Myntra, Amazon and got gold delivered on address of their relatives and friends. Gold purchased Online was sold in the cities of India where price of gold was higher.

Accused who cheated JioMart of more than Rs 1 crore from Reward Points by selling Gold Coins and making transactions of more than Rs 100 crores in JioMart Shopping App and getting money

Amit Kumar son of Hasmukhalal Jagjivanbhai Kariya, Age 40, Resident of D/504, Surjan Tower, Gurukul Road, Memnagar, Ahmedabad City, Main Res. Gitanjali Cinema Road, Talala, District-Gir Somnath and Bhavin Kiritbhai Jivani, Age 31, Business-Real Estate, Resident of D/1004, Silver Nest Apartment, Near Waves Club, Darshanam Capital Commercial Near Complex, Vasna Bhayli Road, Bhayli, Vadodash, Pincode No.391410, Main Residence Radha Kishan, Near Manas School, Tirupatinagar, Talala, District- Gir Somnath have been arrested.

A total of Rs. 43,000 including 12 Mobile, Computer, Laptop, Router including 36 SIM cards of different companies used in committing fraud have been seized from arrested accused for the purpose of crime investigation. The accused have been in touch with people from various states/cities including Ahmedabad, Vadodara, West Bengal and the scam has been going on for past eight months.

The accused have been remanded to investigate the case and further investigation is ongoing to probe whether accused have done financial scam using other similar Online Shopping App or not.

 

[raghumahajan]

iska nuksan sab ko bharna pada

 

[D₹V]

Yahan bhi kuch looters ke andar cope ka mahaul hoga 💀🤣💀

 

[D₹V]

iska nuksan sab ko bharna pada

Charity chal rahi kya vai 😳

 

[VISHESH_BANSAL]

Yahan bhi kuch looters ke andar cope ka mahaul hoga 💀🤣💀

Jon WOW ka Reaction dege OP ki post pe woh sab🤣

 

[Dreams Of Desire 💓]

What is cheating in this case?
As per the news article it seems they only used the technical error of card. How are they responsible for banks fault?? Can anyone explain?

 

[SplendorSuperman]

Transactions of 100 crore 🙂

 

[ccdc]

ye log Pagal ho gaye the....100 cr ka rotation kiya...usme toh koi bhi pakda jayega...amrit bhi limit mein pine ka otherwise vo bhi band baja dega...

 

[SSV]

Whose fault is this?

Bank giving such an unbelievable rewards packaged with loopholes
Or
the guys who had exploited the loopholes to the core…

🪓 should know that, not everyone out there is like @SSV !!
.
.
.
.
.
and a few other my TF comrades !!

 

[_amit_]

100Cr, Ahmedabad and Axis bank goes a long way. If I remember correctly CBI also once charged Axis bank official in Ahmedabad with 100Cr amount during demonetisation.

So these could be Axis bank official too which would be more befitting... No offense to Axis folks in general...

What is cheating in this case?
As per the news article it seems they only used the technical error of card. How are they responsible for banks fault?? Can anyone explain?

Those minuscule font size agreement we sign while getting products from banks help the bank in such cases sometimes.

However, its still unclear what are they charged with, how it became a criminal case and whether Axis is involved in the filing. There seems to be more with the case than Axis as only credit card fraud can not have triggered this especially when two people have 36 sim cards.

Bank could have initiated a reversal and made them defaulter and involve the legal team earlier with recovery but that would be a civil case i guess?

How are they responsible for banks fault??

Another example: If bank mistakenly deposit a large amount in someone's account and the person spent it, legal action can be taken against the person failing to refund it.

 

[Zacobite]

We have seen the brutal devaluations in Axis Bank credit cards. Many gamers have abused the system rampantly. Two guys from Gujarat collected lot of points by using the loopholes of Axis Bank cards and JioMart app. The points were redeemed for gold coins. Check out the complete news text taken from https://www.gujaratheadline.com/ahm...rrested-scammer-misusing-jiomart-shopping-app. The Divyabhaskar newspaper also covered the story. Check attached newspaper clippings.

wow. wow.. wow.. greed has no end...

 

[D7162]

What is cheating in this case?
As per the news article it seems they only used the technical error of card. How are they responsible for banks fault?? Can anyone explain?

As per newspaper I read, axis didn't filed a case, they didn't revealed name at that time but mentioned that e commerce has filed a case because they had to pay 1 cr + as processing charges (may be MDR)

 

[Rags]

I am still not clear what's the fraud here? May be the news not clear to me.

 

[doraemon]

They will be out in a week or so

That's the reality 😄

 

[Harry1]

Lol what was the loophole🤔.

Edit: Checked the detailed post. So seems like refund was coming as imps from jiomart😅. How did it not leak yet?

I had once transacted on jiomart via Amazon wallet UPI and refund came in Amazon gift card 🤦‍♂️.

 

[bugmenot]

As per newspaper I read, axis didn't filed a case, they didn't revealed name at that time but mentioned that e commerce has filed a case because they had to pay 1 cr + as processing charges (may be MDR)

You are right. The case was filed by Jiomart not Axis bank. If you read the Divya bhaskar newspaper clipping, there is a name mentioned, who filed the complaint. He is the assistant general manager at reliance retail. Here's the linkedin profile link https://www.linkedin.com/in/saikiran-thandra-993a3162?trk=recent-searches

 

[manzparty]

@Vasuki

Sabse Pehle to aapne Ghabrana nahi hai ?

 

[sjmajumder]

So if I pay for an order in jio mart by credit card and cancel the order will the amount be refunded to my bank account?

 

[Vasuki]

@Vasuki

Sabse Pehle to aapne Ghabrana nahi hai ?

 

[ashwink]

Expecting some action against SBI CB looters 😆😂🤣