Twitter Introduces Online Financial Scams Policy in India


The social media giant Twitter India head Manish Maheshwari in a recent interview with the press opened up about the company’s concerning online financial scams. The scams which the Twitter India head was referring to was based on relationship/ trust building scams that are active on the social media platform. The Twitter India head was referring to concerns regarding the financial scams that have recently been in the spotlight. The organizations that bore the brunt of these scams are Paytm, PhonePe, Cred, and Google Pay and so on and so forth.

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The Twitter India head posted in a tweet that Twitter is concerned about the latest development in the industry as it affects consumers and clients. The organizations have been taken by storm as the management had never seen these kinds of development. Maheshwari said that the company has come out with a policy which dealt with scams as a majority of the Indian population have moved online to transact digitally online. According to the policy that Twitter had recently introduced the Twitter India head said that the policy dictates that using scam tactics on Twitter to ask for money is prohibited.

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According to the new policy, no Twitter user or consumer is allowed to use Twitter services in gaining personal or private information through scams tactics or otherwise fraudulent and deceptive methods. The new rules that the Twitter India head is talking about were about scams like relationship/trust- building, money swapping which is nothing but exchanging of money between two parties where one will be the receiver and other will be the lender. The lender usually guarantees the receiver a large amount of money in exchange if the receiver pays a small amount of money which acts as an initial payment. The Twitter head also told that the transaction between the parties will be done via wire transfer or via prepaid debit cards.

Source: INC42

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