Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

10 Promising Fintech Startups to Keep an Eye On

September 16, 2025

The Saudi fintech startup Tamara secured $2.4 billion in funding.

September 15, 2025

Regulations need to foster innovation in AI, says FM Nirmala Sitharaman – Industry News

September 15, 2025

Humanity, technology, and the future of employment

September 15, 2025
Facebook X (Twitter) Instagram
Trending
  • 10 Promising Fintech Startups to Keep an Eye On
  • The Saudi fintech startup Tamara secured $2.4 billion in funding.
  • Regulations need to foster innovation in AI, says FM Nirmala Sitharaman – Industry News
  • Humanity, technology, and the future of employment
  • Fintech Startup Box to Introduce Innovative Retirement App that Converts Daily Spending into Future Pension Savings
  • India introduces new regulations to combat AI-generated false news – Brand Wagon News
  • Revolutionize healthcare and finance using quantum technology.
  • Enhancing Financial Efficiency and Reducing Costs with AI: A New Era by Erica Andersen
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    FCCPC recoups 10 billion naira for harmed customers after grievances against banks and fintech companies

    September 11, 2025

    Hyderabad Fintech Viyona secures NPCI approval to function as a third-party application provider.

    September 11, 2025

    Klarna IPO Valuation Analysis in the US Banking Sector

    September 2, 2025

    Robinhood’s IA Investing Tool Digests Launches in the UK

    August 27, 2025

    JMJ Fintech experiences fluctuations despite robust recent financial results and growth strategies

    August 16, 2025
  • AI

    Regulations need to foster innovation in AI, says FM Nirmala Sitharaman – Industry News

    September 15, 2025

    Humanity, technology, and the future of employment

    September 15, 2025

    India introduces new regulations to combat AI-generated false news – Brand Wagon News

    September 15, 2025

    Revolutionize healthcare and finance using quantum technology.

    September 15, 2025

    Enhancing Financial Efficiency and Reducing Costs with AI: A New Era by Erica Andersen

    September 14, 2025
  • Acquisitions

    Amazon concludes its acquisition of the Indian lender Axio, expanding its fintech efforts.

    September 11, 2025

    The incident involving the Kaustubh Kulkarni movement in Moomoo

    September 3, 2025

    Overview of Acquisitions for US Fintech Companies from the Clifford Chance Guide

    September 2, 2025

    Dentons guides PEAC Solutions in acquiring Fintech Topi

    August 29, 2025

    Truckstop.com purchases the denim division of the transport finish company

    August 24, 2025
  • Trends

    Overview of the Size, Trends, Growth Drivers, and Key Players in India’s Fintech Sector

    September 5, 2025

    SEF – Wits Global Fintech Conference 2025 Investigates Worldwide Fintech Trends

    September 4, 2025

    The impressive results of PB Fintech underscore the contrast with overall market trends.

    September 4, 2025

    South Korea’s Fintech Market Overview, Trends, and Growth Predictions

    August 30, 2025

    Vietnam’s fintech market projected to exceed 50 billion USD by 2030.

    August 21, 2025
  • Insights

    A brief overview of the upcoming weekly updates in fintech

    September 12, 2025

    Kapital is the final unicorn in Mexico valued at over $1 billion.

    September 5, 2025

    Canton RestitySteve Forbes and Peter Schiff Headline New Fintech.tv Series Riding Bulls and Taming Bears Led by David Stryzewski New York, NY / Access Newswire / August 25, 2025 / Fintech.tv has unveiled the debut of Bulls and Taming Bears, a series focused on market analysis and…

    August 28, 2025

    Steve Forbes and Peter Schiff Launch New Fintech.tv Series “Conquering Market Fluctuations” by David Stryzewski – Azentral | The Republic of Arizona

    August 28, 2025

    Updates on Blockchain, Fintech, and Finance from Coinlaw

    August 26, 2025
  • Rumors

    Pi Network price hits a new all-time low amid delimitation speculation on OKX and Mexc.

    September 11, 2025

    Tether’s Bitcoin Sale for Gold: CEO Paolo Ardoino Shares the Facts

    September 8, 2025

    Buffalo Sabers encouraged to trade former first-round pick Isak Rosen amid challenges

    September 7, 2025

    Wise aims to establish itself as a bank in the UK.

    September 7, 2025

    Is Trump deceased?

    September 6, 2025
  • Startups

    10 Promising Fintech Startups to Keep an Eye On

    September 16, 2025

    The Saudi fintech startup Tamara secured $2.4 billion in funding.

    September 15, 2025

    Fintech Startup Box to Introduce Innovative Retirement App that Converts Daily Spending into Future Pension Savings

    September 15, 2025

    Startup Fintech Growxcd aims to raise Rs 200 crore in Series B funding.

    September 11, 2025

    South African Fintech Company Finutup Secures $2.6 Million (46 Million Rands) in Funding

    September 11, 2025
  • finjobsly
fintechbits
Home » Sachin Bansal’s Navi Technologies cheated of INR 14.26 crore as scammers posing as customers abuse bug to dupe Fintech startup in ‘payment gateway fraud’
Startup News

Sachin Bansal’s Navi Technologies cheated of INR 14.26 crore as scammers posing as customers abuse bug to dupe Fintech startup in ‘payment gateway fraud’

2 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
Sachin Bansal 784x441.jpg
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Bengaluru, January 22: Flipkart co-founder Sachin Bansal’s new fintech company Navi Technologies was allegedly cheated of INR 14.26 crores. The alleged fraud allegedly took place last month when Bansal-led Navi Technologies fell prey to ‘payment gateway fraud’. The incident came to light after Sachin Bansal alleged that miscreants posing as customers abused a bug and cheated his fintech startup.

The fraudsters cheated the company for over INR 14 crores in 14 days in December 2024. According to a report by The HinduWhitefield Cyber ​​Crime Police in Bengaluru filed a case against the unidentified fraudsters on Saturday, January 18. As per the complaint filed by Company Vigilance Officer Srinivas Gowda, Navi Technologies offered customers the facility to make payments for mobile recharge, EMI, and other services through the app between 10 and December 24. Binny Bansal resigns from Flipkart: Co-founder officially leaves board months after selling his remaining stakes.

Gowda said there was a bug as a third-party application provider’s payment gateway (TPAP) gave customers the option to change the amount to be paid after the process on the Navi app. Gowda said fraudsters posing as customers abused the bug and made payments through the app. After payment, the fraudsters went to TPAP and changed the amount to INR 1, thereby triggering a transaction success report.

Based on the transaction report, Bansal’s Navi Technologies made the full payment selected by the customers on their app. Through the payment gateway fraud, the fraudsters cheated the fintech form of INR 14.26 crore. Meanwhile, police have launched an investigation and sought more details about the financial transactions involved in the alleged fraud. “RBI lifts restrictions on Sachin Bansal’s Navi Finserv”.

What is Navi Technologies?

Financial services company, Navi Technologies was founded by Sachin Bansal and Ankit Agarwal in 2018. While the fintech startup operates in the space of digital loans, home loans, mutual funds, UPI, etc. Navi also has a digital application where it provides financial services. products and services to customers.

(The above story first appeared on LatestLY on Jan 22, 2025 06:02 PM IST. For more news and updates on politics, world, sports, entertainment & lifestyle , log in to our website. lately.com).

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

10 Promising Fintech Startups to Keep an Eye On

September 16, 2025

The Saudi fintech startup Tamara secured $2.4 billion in funding.

September 15, 2025

Fintech Startup Box to Introduce Innovative Retirement App that Converts Daily Spending into Future Pension Savings

September 15, 2025
Leave A Reply Cancel Reply

Latest news

10 Promising Fintech Startups to Keep an Eye On

September 16, 2025

The Saudi fintech startup Tamara secured $2.4 billion in funding.

September 15, 2025

Regulations need to foster innovation in AI, says FM Nirmala Sitharaman – Industry News

September 15, 2025
News
  • AI in Finance (1,614)
  • Breaking News (168)
  • Corporate Acquisitions (71)
  • Industry Trends (200)
  • Jobs Market News (306)
  • Market Insights (209)
  • Market Rumors (274)
  • Regulatory Updates (166)
  • Startup News (1,050)
  • Technology Innovations (174)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,614)
  • Breaking News (168)
  • Corporate Acquisitions (71)
  • Industry Trends (200)
  • Jobs Market News (306)
  • Market Insights (209)
  • Market Rumors (274)
  • Regulatory Updates (166)
  • Startup News (1,050)
  • Technology Innovations (174)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2025 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.