Meesho claims that since October 2023, incidents of lottery fraud have decreased by 75 percent.
SoftBank-backed e-commerce platform Meesho has processed 2.2 crore suspicious transactions on its platform and filed 12 cases in the last 12 months, according to the company’s annual report released on Monday.
Innovative analytical models to combat fraud
Meesho’s ‘Trust Assurance Report’ said its team developed leading analytical models, sophisticated data science frameworks and advanced computational logic, which helped prevent 13 lakh bot orders and blocked 77 lakh fraud attempts from accessing the company’s platform.
Prevent fraudulent transactions and bad actors
“In the last 12 months, Meesho has intercepted more than 2.2 crore fraudulent transactions. Further, Meesho had taken extensive steps to remove bad actors from the platform,” the report said.
Active investigation into account takeover fraud
As part of its drive against account takeover fraud, Meesho launched an active investigation that led to the filing of 9 cases against more than 40 suspects in Kolkata and Ranchi, the report said.
Impressive success rate in combating account takeover fraud
“Along with authorities, Meesho achieved an impressive 98 percent success rate in combating account takeover fraud,” the report said.
Fighting lottery fraud and impersonation scams
The company has registered three FIRs in lottery fraud cases, under which people are targeted by messages containing malicious links promising huge prizes or cashback.
A comprehensive crackdown on lottery fraud
“Lottery fraud has emerged as an industry-wide challenge where fraudsters impersonate reputable brands to defraud unsuspecting individuals. To counter this, Meesho conducted extensive on-ground investigations in Kolkata, Bengaluru and Ranchi, which resulted in three FIRs being lodged against these fraudulent schemes,” the report said.
Reduction in the incidence of lottery fraud
Meesho claims that since October 2023, incidents of lottery fraud have decreased by 75 percent.
Collaboration with threat intelligence platforms
According to the report, Meesho partnered with various threat intelligence platforms to remove over 18,000 fraudulent social media accounts and approximately 130 fake websites and apps that misused its brand for customer support, job portals and lucky draws.
Legal action and court orders against fraudsters
The e-commerce company had moved the Delhi High Court for a permanent injunction against fraudsters running dubious websites using the Meesho brand.
‘Famous Mark’
“The court recognized Meesho as a ‘well-known mark’ and ordered the domain registrar to deactivate these sites. It also directed the law enforcement to investigate, freeze the bank accounts concerned and take appropriate punitive action,” the report said.