These things happens when you depend on general community(crowdsourcing) for identification. MIUI uses that feature. So any miui user can report that any user id to any name and if by any chance it gets max vote then that ID is taken as official. Same things happens with true caller where many times we get wrong names on caller id.
Scammer use it to loot people, they name these IDs as official bank id then call you, your phone will show bank name in caller id and in SMS id and so people blindly believe the caller and give away OTP and lost money from his bank a/c.
Ref : Truecaller is now fraudsters’ we*pon