Nov 18, 2024 02:53 PM IST
Meesho’s Trust Assurance Report reveals the company’s advanced data analytics have thwarted 2.2 crore fraudulent transactions and 77 lakh scam attempts
SoftBank-backed e-commerce platform Meesho has acted against 2.2 crore suspicious transactions on its platform and filed 12 cases in the last 12 months, according to the company’s annual report released on Monday.
According to Meesho’s “Trust Assurance Report,” its staff has created cutting-edge computational logic, complex data science frameworks, and innovative analytical models that have prevented 77 lakh fraud attempts and 13 lakh bot orders from using the company’s platform.
Also read: Ludhiana: Khanna resident loses ₹1 lakh to cyber fraudsters
The firm has teamed up with threat intelligence platforms to remove more than 18,000 phony social media profiles and around 130 phony websites and applications that exploited the brand for employment portals, customer service, and lottery draws in an effort to further shield customers from nefarious scams.
“In the last 12 months, Meesho has prevented over 2.2 crore fraudulent transactions. Additionally, Meesho undertook extensive steps to remove bad actors from the platform,” the report said.
According to the article, Meesho initiated a proactive investigation in an attempt to combat account takeover fraud, which resulted in the filing of nine cases against more than forty individuals in Ranchi and Kolkata.
“By working closely with authorities, Meesho achieved an impressive 98 per cent success rate in addressing account takeover fraud,” the report said.
Also read: ED raids Kolkata premises in lottery case; BJP targets TMC
Three FIRs have been filed by the business in incidents of lottery fraud, in which individuals are targeted with messages that contain harmful links that promise enormous payouts or cashbacks.
Meesho claims to have reduced lottery fraud incidents by 75 per cent since October 2023.
The online retailer filed a request for a permanent injunction against scammers using the Meesho name to run shady websites with the Delhi High Court.
Also read: Misuse of social media by terrorists should be borne in mind during sentencing: Delhi High Court
“The court recognised Meesho as a ‘well-known mark’ and ordered domain registrars to deactivate these sites. It also directed law enforcement to investigate, freeze related bank accounts, and take appropriate punitive action,” the report said.
Stay updated with the…
See more
