Is it feasible to scam using a FASTag smartwatch? Paytm provides further explanation.

The video that is going popular on social media platforms like Facebook, Twitter, and WhatsApp states that certain urchins on the street are utilising a wristwatch that has a built-in scanner that can read FASTag stickers that are on vehicles.

HIGHLIGHTS

Paytm asserted that the video was fabricated and that the FASTag technology it uses is risk-free.

The NPCI has also said that the video is without foundation.

The two individuals in the video are trying to launch acting careers.

A video that has been circulating on the internet makes the allegation that the FASTag system, which functions by having a specific sticker placed on vehicles and scanners installed at toll plazas, may be hacked. The video that is going popular on social media platforms like Facebook, Twitter, and WhatsApp states that certain urchins on the street are utilising a wristwatch that has a built-in scanner that can read FASTag stickers that are on vehicles. As a direct consequence of this, money will be taken out of the FASTag account, which is connected to the users’ banks or electronic wallets like Paytm. The video presents false evidence, and Paytm has responded by publishing a statement on its various social media platforms.

What exactly does it say in the video?

In the video, there are two guys interacting with a little child who expresses interest in washing their vehicle. The little child cleans the windshield in a hurry, which features a FASTag sticker on the upper left corner, but he does not ask for payment. One of the men begins to chase after the child after realising that he did not accept any payment for cleaning and that he was wearing a timepiece on his wrist. However, the pursuit proved fruitless, and the individual who stayed in the vehicle is currently providing viewers with an explanation of what transpired.

According to the narrator, street children are now using a specialised timepiece that comes equipped with a scanner that is able to read FASTag stickers; more specifically, these children are using FASTag stickers that were manufactured by Paytm. The person’s associated bank account or electronic wallet will be debited the specified amount of money as soon as the smartwatch is hovered over the sticker.

For those who are unaware, the use of FASTags has grown rather widespread in India to simplify the collecting of electronic tolls. FASTag is a tag that is attached to cars and is managed by 23 banks. It is administered by the National Payment Corporation of India (NPCI), as well as the National Highways Authority of India (NHAI) (National Highway Authority of India). Utilizing Radio Frequency Identification (RFID) technology, it was developed with the intention of doing away with the need for human involvement in the toll collection process.

In addition, the government mandated the use of FASTags for all commercial and private four-wheel vehicles as a method of payment at toll plazas, which contributed to the widespread adoption of the system. In February of 2021, the regulation was finally put into action.

What is Paytm saying?
Paytm has made it quite clear that the video in question is a hoax and that the integrity of the FASTag technology cannot be compromised. The business made the announcement on Twitter, “Inappropriate information regarding Paytm FASTag is being circulated via a video that depicts a wristwatch scanning FASTag in an incorrect manner. In accordance with the criteria established by NETC (National Electronic Toll Collection), FASTag payments can only be initiated by authorised merchants that have successfully passed many rounds of testing. Paytm FASTag offers the highest level of safety and protection available “.

In addition, the NPCI has published a statement in which it refers to the accusations as “baseless.” You are free to read the complete message down below.

Fact-checker Boom discovered a page on Facebook called BakLol Video that features many videos with the same people on them. It would appear that the two individuals are attempting to launch acting careers, and the FASTag scam video is completely staged. Watching Live TV

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