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Beware of Scammers: Mumbai Man Loses Rs 6.45 Lakh in Sophisticated Cyber Fraud

Fraud, Bribery & CorruptionBeware of Scammers: Mumbai Man Loses Rs 6.45 Lakh in Sophisticated Cyber Fraud

Scams are on the rise, with new frauds emerging daily. In a recent case that might send chills down users’ spines, a man in Mumbai lost Rs 6.45 lakh without receiving any transaction SMS alerts on his phone. Here’s what unfolded:

A 64-year-old resident of Mumbai’s Vikhroli area became the victim of a cyber fraud scheme, resulting in a substantial financial loss of Rs 6.45 lakh. The cybercriminal executed this fraud with remarkable sophistication, conducting 28 unauthorized transactions consecutively, all while ensuring that the victim did not receive any SMS alerts during the process.

The scam started when the victim received a call from a mobile number. The caller posed as an executive from the private bank where the victim held his account. The fraudster claimed that the victim’s KYC (Know Your Customer) details needed updating and requested his PAN card number. The victim was then instructed to open the bank’s mobile application and update his PAN details and date of birth.

After complying with the caller’s instructions, the victim was informed that the update process was delayed due to server issues. The caller even offered to disconnect the call if the victim desired.

Later that day, while making a UPI payment at a market, the victim noticed a significant reduction in his bank account balance. Upon reviewing his bank statements, he discovered that 28 unauthorized transactions had taken place, totaling Rs 6.45 lakh. Most of these transactions ranged from Rs 25,000 to Rs 24,500. Subsequently, the victim reported the incident to the police.

It’s important to note that the scammer employed various tactics to deceive the victim further. These included using a fake name on Truecaller, using the bank’s logo as their profile picture, and displaying the same image on WhatsApp. The police have initiated a cyber fraud and impersonation case against the unidentified perpetrator and are working to gather information about the beneficiaries of the fraudulent transactions.

To protect oneself from such scams, it’s crucial to follow these precautions:

  1. Never trust unknown callers who ask for personal details or updates, such as PAN card information.
  2. Avoid clicking on links sent by unknown SMS or callers. Visit official government websites or trusted platforms directly for any tasks.
  3. Do not share personal data with individuals you don’t know or trust.

Stay vigilant and cautious to safeguard your financial and personal information from cybercriminals.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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