Scams targeting Indian electric vehicle industry on the rise: Report
Despite the nascence of the Electric Vehicle (EV) sector in India, security firm CloudSEK on Wednesday said that it has identified a large-scale phishing campaign targeting potential EV distributors and users.
According to the firm, scammers are exploiting Google Ads to misdirect users to phishing sites that collect users’ data and money. With each site defrauding users of Rs 200,000-Rs 400,000, in booking fees and down payments, the scam has so far cost the Indian public over Rs 40-Rs 80 million.
“It is notable that the scams increased considerably after the production-linked incentive (PLI) scheme, for electric and hydrogen fuel cell vehicles, was approved by the cabinet in September 2021,” the company said in a statement.
