{"id":1800,"date":"2025-01-22T05:52:27","date_gmt":"2025-01-22T05:52:27","guid":{"rendered":"https:\/\/fusionmindlabs.com\/blogs\/2025\/01\/22\/navi-loses-rs-14-cr-to-payment-gateway-fraud\/"},"modified":"2025-01-22T05:52:27","modified_gmt":"2025-01-22T05:52:27","slug":"navi-loses-rs-14-cr-to-payment-gateway-fraud","status":"publish","type":"post","link":"https:\/\/fusionmindlabs.com\/blogs\/navi-loses-rs-14-cr-to-payment-gateway-fraud\/","title":{"rendered":"Navi Loses Rs 14 Cr to Payment Gateway Fraud"},"content":{"rendered":"\n<\/p>\n

Navi Technologies Fintech Startup Falls Victim to Payment Gateway Fraud<\/h1>\n

Navi Technologies’ Payment Gateway System Exploited by Scammers<\/h2>\n

Navi Technologies, a fintech startup co-founded by Sachin Bansal, has fallen victim to a payment gateway fraud, resulting in losses of \u20b914.26 crore over a two-week period in December 2024.<\/p>\n

Investigation Launched by Whitefield Cyber Crime Police<\/h2>\n

The Whitefield Cyber Crime Police in Bengaluru have launched an investigation after registering a case against unidentified fraudsters. According to a report in The Hindu, scammers exploited a critical vulnerability in the company’s third-party payment gateway system, allowing them to manipulate transaction amounts after payment initiation.<\/p>\n

Technical Loophole Exploited by Scammers<\/h2>\n

The scam took advantage of a technical loophole that permitted users to modify payment amounts through the third-party application provider (TPAP) gateway after initiating transactions on the Navi app. Fraudsters would initially enter larger amounts for services like mobile recharges and EMI payments, then edit the payable amount to just \u20b91 after the payment was processed. While the system recorded these transactions as successful for the minimal amount, Navi Technologies was charged the original full payment.<\/p>\n

Vigilance Officer Reveals Details of Fraudulent Activities<\/h2>\n

Srinivas Gowda, a vigilance officer at Navi Technologies, revealed that the fraudulent activities occurred between December 10 and 24, 2024. The company’s complaint states that multiple perpetrators, posing as legitimate customers, repeatedly exploited this vulnerability to defraud the Bengaluru-based fintech firm.<\/p>\n

Published On<\/h2>\n

Published On Jan 22, 2025 at 10:48 AM IST<\/p>\n

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Navi Technologies Fintech Startup Falls Victim to Payment Gateway Fraud Navi Technologies’ Payment Gateway System Exploited by Scammers Navi Technologies, a fintech startup co-founded by Sachin Bansal, has fallen victim…<\/p>\n","protected":false},"author":19,"featured_media":1801,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-1800","post","type-post","status-publish","format-standard","has-post-thumbnail","category-cybercrime-fraud"],"jetpack_featured_media_url":"https:\/\/fusionmindlabs.com\/blogs\/wp-content\/uploads\/sites\/9\/2025\/01\/how-flipkart-co-founder-sachin-bansals-fintech-startup-navi-lost-rs-14-crore-to-payment-gateway-frau.jpeg","_links":{"self":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/posts\/1800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/users\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/comments?post=1800"}],"version-history":[{"count":0,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/posts\/1800\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/media\/1801"}],"wp:attachment":[{"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/media?parent=1800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/categories?post=1800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fusionmindlabs.com\/blogs\/wp-json\/wp\/v2\/tags?post=1800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}