Myntra has reportedly suffered a massive loss of Rs 50 crore due to a sophisticated scam involving fraudulent orders. While the company has lodged a formal complaint with Bengaluru police for Rs 1.1 crore, reports suggest that the total nationwide loss is even higher, with the scam spanning from March to June this year.
How the Scam Unfolded
The fraudsters targeted Myntra’s high-value products, including branded shoes, clothing, accessories, and jewellery. The scam’s method was simple but effective:
- Bulk Orders for Expensive Items
The scammers would place large orders for high-ticket items, such as branded shoes and apparel. They made full payments for the items, setting up a perfect opportunity for the fraudulent claims to follow.
- Claims of Missing or Incorrect Items
After receiving their orders, the fraudsters would claim that some items were missing or that the products they received were not as expected. For instance, if an order for 10 pairs of branded shoes was placed, the scammer would report receiving only five pairs.
- Refunds for Faulty Orders
Once the complaint was made through Myntra’s app or website, the company would process a refund for the missing or incorrect items. This allowed fraudsters to receive money back for products they never returned.
- Clothing Order Complaints
Some fraudsters also targeted clothing orders, claiming that the items did not match the color or size they had originally ordered, thus triggering refund requests.
A police officer explained that this pattern was repeatedly used by scammers to exploit Myntra’s refund system. The fraudsters would often place multiple orders, ensuring that the total losses quickly escalated into a substantial sum.
Myntra’s efforts to crack down on the fraud are ongoing, as investigations into the nationwide scam continue. The company is working closely with the Bengaluru police to bring the culprits to justice.
As Myntra strengthens its security measures, this incident highlights the growing need for e-commerce platforms to tighten their refund systems to prevent such fraudulent activities in the future.
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