Lagatar24 Desk
Hyderabad: A gang from Rajasthan has been arrested for allegedly defrauding Bajaj Electronics, a prominent electronics retail chain in Hyderabad, of ₹4 crore using a fraudulent UPI payment scheme. Police have arrested thirteen individuals connected to the scam and seized ₹1.72 lakh in cash along with electronic goods worth over ₹50 lakh.
The electronics chain had lodged multiple complaints at various police stations in Cyberabad, Hyderabad, and Rachakonda after falling victim to the fraud. According to police investigations, the gang used a well-coordinated method to exploit UPI’s payment reversal mechanism.
The gang would visit showrooms owned by Bajaj Electronics and select home appliances for purchase. During the payment process, they would share the showroom’s UPI QR code with an accomplice based in Rajasthan, who would then transfer the required amount via UPI. After completing the transaction and leaving with the goods, the accomplice would immediately file a chargeback complaint with the bank, claiming that the transaction was disputed. As a result, the payment would be reversed, allowing the gang to recover the amount while retaining the purchased appliances.
The investigation revealed that the gang consisted of 13 members, all aged between 20 and 25, with some operating in Hyderabad while others coordinated from Rajasthan. The group would sell the stolen appliances and split the profits among themselves.
Among those arrested are SomRaj, Sunil, Sharwan, Shivalal, Ramesh, Pappu Ram, Shravan, Rakesh, and Ashok Kumar. The police are continuing their investigation into the full extent of the scam, as the group is suspected to have targeted multiple locations using the same method.
This incident has highlighted vulnerabilities in the UPI payment system, particularly in how chargeback complaints can be misused to reverse legitimate transactions. Authorities are urging businesses to remain cautious and vigilant, especially when dealing with large transactions via digital payment methods.
