SoftBank-backed e-commerce platform Meesho has acted in opposition to 2.2 crore suspicious transactions on its platform and filed 12 circumstances within the final 12 months, in accordance with the corporate’s annual report launched on Monday.
An e-commerce platform supported by SoftBank Meesho has taken motion in opposition to 12 incidents and a couple of.2 crore fraudulent transactions on its platform. (File picture)
In accordance with Meesho’s “Trust Assurance Report,” its workers has created cutting-edge computational logic, complicated knowledge science frameworks, and revolutionary analytical fashions which have prevented 77 lakh fraud makes an attempt and 13 lakh bot orders from utilizing the corporate’s platform.
The agency has teamed up with menace intelligence platforms to take away greater than 18,000 phony social media profiles and round 130 phony web sites and functions that exploited the model for employment portals, customer support, and lottery attracts in an effort to additional protect prospects 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 mentioned.
In accordance with the article, Meesho initiated a proactive investigation in an try to fight account takeover fraud, which resulted within the submitting of 9 circumstances in opposition to greater than forty people 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 mentioned.
Three FIRs have been filed by the enterprise in incidents of lottery fraud, through which people are focused with messages that comprise dangerous hyperlinks that promise huge payouts or cashbacks.
Meesho claims to have lowered lottery fraud incidents by 75 per cent since October 2023.
The web retailer filed a request for a everlasting injunction in opposition to scammers utilizing the Meesho identify to run shady web sites with the Delhi Excessive Court docket.
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“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 mentioned.