MobiKwik fraud triggers demand for deeper probe into fintech platforms
A major fraud of around Rs 40 crore has raised serious concerns about the safety of fintech platforms after Gurugram Police arrested six people for exploiting a technical glitch in the MobiKwik app.
The incident has triggered calls for a deeper investigation into why such glitches are frequently occurring, putting millions of users at risk.
According to police, the glitch in the MobiKwik app allowed transactions to be recorded as successful even when users had insufficient balances in their bank accounts or wallets, or when incorrect passwords were entered.
