How Fino Payments Bank’s Ex-Employees Defrauded Merchants

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SUMMARY

Some of the company’s staff allegedly floated fictitious schemes to defraud customers and merchants to the tune of INR 35.5 Cr

Fino Payments Bank said it fired the employees in question and sent “complaint closure letters” to all the aggrieved merchants for not being able to substantiate payment claims

The payments bank told Inc42 in a statement that there is no liability on it, adding that customer money is safe and secure

More than a year after it emerged that the employees of Fino Payments Bank had floated…



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How Fino Payments Bank’s Ex-Employees Defrauded Merchants


SUMMARY

Some of the company’s staff allegedly floated fictitious schemes to defraud customers and merchants to the tune of INR 35.5 Cr

Fino Payments Bank said it fired the employees in question and sent “complaint closure letters” to all the aggrieved merchants for not being able to substantiate payment claims

The payments bank told Inc42 in a statement that there is no liability on it, adding that customer money is safe and secure

More than a year after it emerged that the employees of Fino Payments Bank had floated…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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