MobiKwik Fraud Worth Rs 40 Crore Triggers Demand For Deeper Probe Into Fintech Platforms
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Summary
Gurugram Police arrested six people for exploiting a technical glitch in the MobiKwik app that allowed transactions to be recorded as successful even with insufficient balances or incorrect passwords....
Key Details
Published
17 September 2025 at 02:00 pm
Source
Zee News
Channel
mobile banking app
Victim Profile
NA
State
Haryana
City
Gurugram
Amount Loss Range
₹5000000–₹10000000
Fraud Keywords
technical glitch exploitationfailed transaction approvalfintech vulnerabilitypayment app flawfraudulent merchant transactionsdigital wallet hackinsufficient balance bypassauthentication bypass
Tags
Digital Footprint
MobiKwik appRehan (arrested suspect)Mohammad Sakil (arrested suspect)Wakar Yunus (arrested suspect)Wasim Akram (arrested suspect)Mohammad Amir (arrested suspect)Mohammad Ansar (arrested suspect)Sections 318(4) and 314 of BNS (case registered)2,500 bank accounts (linked to fraud)September 13 (complaint filed date)