




Preekshit Gupta
109 posts









My conversation with my barber, who paused my haircut to transfer Rs. 100 to a friend who had called. (Translated) "So many apps nowadays promising big returns" Me: "All fraud, please don't do this you will lose your money" Him: "I know an app that went bust last week, my uncle put 1.32 lakh" "What? How? Why are you investing?" "It gave him 80,000 the first week and then vanished" "Didn't he try to take money out? If they stop that, it's a sign" He: "Yes, sometimes they give money back also so it keeps people excited. Everyone in the mohalla is on it. Even old people. They all know it's a gamble but they want to play, even if the apps go bust" Me, stunned: "They know, and they still play? Why are you playing?" "It's a cousin. It's just Rs. 100, not a big deal for me. He collects it, sometime he wins and everyone is happy. But it's small enough for me not to care" All of us here on twitter think that people are just gullible and we should protect them and all that. But no, these are intelligent people deciding that the risk is worth it. Instead of stopping them or trying to overeducate them, we should just focus on finding the frauds and putting them in jail. (And create movies that involve showing such fraudulent people , and Jamtara types, the worst villains - even that will help) There are new apps every week, apparently. Mohalla gets the news. India should create a digital crime office to just find and cull the frauds among them.






Another great morning with the best of the best! 🤩 We are presenting our #FraudPrevention solutions to industry leaders from the @RBI, leading banks and NBFCs today in #Bengaluru! We would love to discuss making the #digitalpayments ecosystem safer. Come chat with us. 🤗


🚨Rs 13,930 crore was lost to bank frauds in FY24, a ⬇️of 46% from FY23. "Frauds occurred predominantly in category of digital payments (card/internet), in terms of number. In value, frauds have been reported primarily in the loan portfolio"-RBI Annual Report @moneycontrolcom







Going to be in Bangkok for most of next week with homie @os7borne and team @bureauidentity Please send us recommendations on the following fronts : 1. Best Mango Sticky Rice 2. Fintech nerds 3. Banking Executives 4. Vegetarian friendly cafes and restaurants.




