The businesspersons have alleged that if any fraudster buys garments from their shops and makes payment into their bank account online or through UPI by the money duped through the fraud, the police and investigating agencies freeze the entire account of the shopkeeper.
UPI representation image
Several traders and shopkeepers of readymade clothes in the business capital of Madhya Pradesh, Indore city, have decided not to take payments online or through UPI following increasing numbers of frauds and freezing of bank accounts.
The businesspersons have alleged that if any fraudster buys garments from their shops and makes payment into their bank account online or through UPI by the money duped through the fraud, the police and investigating agencies freeze the entire account of the shopkeeper. The traders lamented that the shopkeepers do not know that the money paid online to them is stolen from someone’s bank account but still the agencies freeze their entire bank account and they face a lot of trouble and financial crisis in continuing their business.
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According to ‘Indore Retail Garments Association’ president Akshay Jain, the shopkeepers have put up posters at their shops expressing inability to take payments through UPI or online due to possibility of cyber fraud and the resulting financial problems due to bank account freezing.
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He argued that if Rs 1000 payment is done through fraud money, then only Rs 1000 should be blocked in the account of the shopkeeper who got that payment, but his entire bank account is frozen for no reason.Consequently, the traders have decided to encourage and give priority to only cash payments or through cards.
However, the police say that refusing online payments or UPI transactions is incorrect. According to police officials, a bank account is frozen if fraud money transactions are detected in it but if the account holder shows legal credentials and necessary documents then the account is released and transactions are allowed from it.
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