{"id":44077,"date":"2022-05-20T18:53:00","date_gmt":"2022-05-20T13:23:00","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=44077"},"modified":"2022-05-20T18:51:42","modified_gmt":"2022-05-20T13:21:42","slug":"ka-hackers-razorpay-2","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/ka-hackers-razorpay-2\/","title":{"rendered":"Hackers, fraudulent customers steal Rs 7.38 crore from payment gateway firm Razorpay"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-630375040\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Hackers and fraudulent customers have stolen Rs 7.38 crore by tampering and manipulating the authorisation process of Razorpay Software to authenticate 831 failed transactions, according to a police complaint lodged by the payment gateway company.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2937935312\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div>\n<p>In his complaint to the South East Cyber Crime Cell lodged on May 16, Razorpay&#8217;s Head of Legal Disputes and Law Enforcement Abhishek Abhinav Anand said the company was unable to reconcile receipt of Rs 7.38 crore against 831 transactions.<\/p>\n<p>On contacting its \u2018authorisation and authentication partner\u2019 Fiserv, a fintech and payments company, it was communicated to Razorpay that these transactions had failed and were not authorised or authenticated, the complainant said.<\/p>\n<p>Following the communication from Fiserv, Razorpay conducted an internal investigation and found out 831 transactions against 16 unique merchants of Razorpay, from March 6 to May 13 this year &#8220;to a tune of Rs 7,38,36,192&#8221;, the complainant said.<\/p><div class=\"trade-content_5\" id=\"trade-3990906619\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div>\n<p>&#8220;These 831 transactions were marked as failed or unsuccessful by Fiserv, owing to authentication and authorization failure. However, it is found out that certain unknown hackers and fraudulent customers have tampered, altered and manipulated the \u2018authorization and authentication process\u2019&#8230;,&#8221; Anand said in his complaint.<\/p>\n<p>Due to this, false altered communications as \u2018approved\u2019 were sent to Razorpay system against the 831 transactions, resulting in losses to a tune of Rs 7,38,36,192 to Razorpay,\u201d Anand further said.<\/p>\n<p>On receiving the false altered communications, Razorpay further sent confirmation to their merchants for fulfillment of order and made settlements to its merchant, he stated.<\/p>\n<p>In this connection, Anand furnished the details of the fraudulent transactions along with date time and IP address, along with other relevant details to the police for inquiry.<\/p>\n<p>The police said they are investigating the matter. PTI GMS RS HDA HDA<\/p>\n<div class=\"trade-after-content\" id=\"trade-1928011909\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Hackers and fraudulent customers have stolen Rs 7.38 crore by tampering and manipulating the authorisation process of Razorpay Software to authenticate 831 failed transactions, according to a police complaint lodged by the payment gateway company. In his complaint to the South East Cyber Crime Cell lodged on May 16, Razorpay&#8217;s Head of Legal Disputes and [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":14707,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31,1789],"tags":[],"class_list":["post-44077","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news","category-trending-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Hackers, fraudulent customers steal Rs 7.38 crore from payment gateway firm Razorpay - Trade Brains Features<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/ka-hackers-razorpay-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hackers, fraudulent customers steal Rs 7.38 crore from payment gateway firm Razorpay\" \/>\n<meta property=\"og:description\" content=\"Hackers and fraudulent customers have stolen Rs 7.38 crore by tampering and manipulating the authorisation process of Razorpay Software to authenticate 831 failed transactions, according to a police complaint lodged by the payment gateway company. 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