Dude! Your money is unsafe in Indian BPO
Hey, I am not here to make this article as a buzz but being a human being it hurts my consciouses whenever I think that how much unsafe is hard earned money of US people, lying with Indian BPOs.
The BPO boom has left lot of questions still unanswered as every company's real focus is on growth; they all are interested in adding more and more business to their kitty irrespective of keeping all rules and regulations at bay. The horrifying picture will come one day when all of a sudden a bubble of fraud will burst out and will swallow the whole BPO setup.
I am not going to bore you by telling about most of the things you know. Let me tell you one incidence which can be an eye opener for all of you. Last week I visited a reputed call center (top ten BPO of India) and visited one of the processes which were outsourced to India. Telling briefly about the process, this process was on annuity's business and they used to serve client who are aged more than 65 years (you can understand how sensitive these clients are) and used to process there withdrawal request on their respective annuity's policy. They even make a call to client on requests which are not in good order and informed the client about the same and do get the sensitive information from clients on the calls.
So let me discuss with you possible loop holes, where there is a possibility of frauds and from where lots of cash can be drained out without knowledge of its owner for months.
Wire Transfer
In this annuity process people who work at back-end can transfer money either through issuing a check to client or do a wire or ach transfer of funds into the account whenever they receive the request of withdrawal from client. Now the catch is “What if I transfer funds into any ACH”. Yes, here lies the possibility of fraud. If there is someone in US in whose account I can transfer funds then no one re-check it unless that particular client (from whose account I did the withdrawal) sends a withdrawal request one day and then it being caught and no cash is left in his account. Giving you a brief overview of the criticality is about the account size vary from $5000 to $5, 00,000 per policy or account and believe me if a person do it once and then left a company next day then you can't catch that person and money goes into another account in less than 48 hours. There are so many old people who do not touch there money for years and save them for their bad times, so what if they call for money withdrawal to meet hospital expenses and they find it someone has already withdrawn all their money. Does any one can answer? SSN (Social Security Number)
Hey, one important thing which I know and most US people do agree with me is their respective SSN number. Every policy client's information is in the system and with in fraction of seconds I can have anyone SSN I need it. If a person given an hour he can have about 1,000 people's SSN in my knowledge. I can put SSN and client's respective names in Microsoft excel and take a printout there is no damn check on it.
I think this is enough to terrify US people whose hard earned money is so unsafe in BPO's in India. When I was seeing this, it makes me feel like a safe which has no code or lock with millions of money inside it. God! Save these old people's money.
Hope, this is an eye opener for most of the people and I will keep posting more such information for the benefit of all people.
