The claims suggest that Truecaller is under investigation in India, which accounts for 75 per cent of its user base. |
Every time a dubious caller or possible scam artist calls you, the words spam or fraud are flashed under the number, thanks to experiences reported by other users. This is possible thanks to Truecaller, which apart from allowing Indians to avoid unwanted callers, also protected them against spammers during the pandemic. But the scam detector itself now faces allegations of tax fraud, levelled by activist short-seller Viceroy, driving down its stock prices by 20 per cent.
The organisation has flagged scams before
The organisation, which had flagged German payment firm Wirecard’s fraud years before it caused the company to shut down, has also claimed that Truecaller’s business model will become redundant due to evolving privacy laws. Viceroy has suggested that Truecaller may be facing a GST fraud investigation in India, which accounts for 75 per cent of its user base after the firm mentioned that it was seeking approvals from RBI on GST and transfer pricing.
Has been in trouble over data security
Truecaller has already been facing trouble after an online intelligence firm Cyble claimed that the firm’s data on 4.75 crore Indians was stolen and put up for sale on the dark web. The Swedish startup on its part denied the allegations of a data breach and has also announced support for India’s data protection regulations. But Truecaller has been called…
