To prevent and detect financial fraud in Surat textile market, police are developing a mobile application which will help collect details about each trader and broker in the textile market, where 50,000 traders and brokers conduct business every day.
With the android mobile application ‘Tex-Suraksha’ it will not be easy for fraudsters to escape now after carrying out a fraud under a planned insolvency racket from the textile market of the city. The app will also provide information to a user about a textile businessman
The fraudsters make purchases in crores from raw material suppliers and job workers. They initially make payments on time to win trust. Credit window of three to four months is common in textile market and the fraudsters collect maximum goods during this period. They disappear after closing the rented shop and selling the material without making payment to creditors.
The Federation of Surat Textile Traders Association (FOSTTA) has called a meeting of textile traders in which police shared with them the information about the application’s purpose and use.
The city police commissioner Ashish Bhatia said that the police now through this application will collect data of businessmen operating from over 60,000 shops. Their photos, native addresses and other details will be stored in the application. This data will help police in detecting crime and to nab the fraudsters.
