“Bengaluru techie falls prey to fake police cyber fraud gang, loses Rs 33 lakh.”
“Software engineer from Bengaluru loses Rs 64,000 in an online rental scam.”
“Bengaluru-based techie scammed over a fake hit-and-run case and fake terror-funding claims, cheated of Rs 97,000.
Familiar headlines? If yes, then it is time to be alert, verify, and scrutinise every unknown caller or message before making a transaction. Ignore and you risk falling prey to cybercriminals who are growing by the hundreds in India’s Silicon Valley, say the police.
This year, Bengaluru has seen the highest number of cybercrime cases reported in seven years, with 12,615 instances being reported and a staggering Rs 470 crore being lost to online scammers between January and September.
According to the statistics from the cybercrime department in Bengaluru, the city has seen a 25 per cent rise in financial fraud cases within the span of just one year.
News18 has accessed records from 2017 to 2023, which show that the number of cases of online money transfer/debit/credit card fraud and job fraud has been steadily increasing. This also forms the largest chunk of cases reported against cybercriminals in the city.
In 2017, the number of investment fraud cases recorded was 1500, which spiked to 4,252 in 2022, and presently is 4,235 cases, including debit/credit card fraud as well as business opportunity fraud calls.
Largely termed investment fraud, cybercriminals target people by luring them with business opportunities, especially as an additional source of income.
We give you an idea of the general modus operandi adopted by these criminals and how you can keep your money safe.
“First of all, people should not believe information that is communicated over the phone by a random caller or a message on WhatsApp. One should use discretion and common sense, vet every single call/message from numbers that are not from your caller list,” mentioned a senior police officer. “The saddest part is that the maximum number of people who fall prey to such fraudsters are highly educated as well as elderly people. People may be educated, but not wise. People should not fall prey to greed. Then 80 per cent of the cases will not take place.”
A police official working carefully with monitoring, tracing, and resolving cybercrime circumstances mentioned that these criminals goal their victims by baiting or tempting them with higher monetary positive aspects.
“There are people who aspire to have another side income, which will help them improve their lifestyle. This trend we have seen in the past two to three years,” the officer defined.
How do they go about it? An individual first will get a name saying an app has been developed the place individuals can make investments Rs 500 to Rs 1,000 per thirty days, and they’d get returns of Rs 200-300. In order to indicate that cash, the criminals do an analogous transaction with one other set of victims and switch Rs 200 to the primary set.
“That way they begin to believe that the offer is genuine and they can make a fast buck. Greed drives people to invest more and more. Some have even invested in lakhs only to be duped as they fold up and run away with the money,” mentioned the officer.
But how do they create accounts that aren’t traceable and might deal with such massive quantities?
The criminals search the assistance of low-income individuals like farmers, autorickshaw drivers, or home helpers to open financial institution accounts of their title. They persuade them that they might give them a share of the cash for it, after which transactions into lakhs happen, the officer mentioned.
“People would believe it to be a genuine account as all documents, including Aadhaar and PAN card, would be valid. They make it as close to reality as possible. They even create WhatsApp chat groups, and people discuss they have received a bonus, so the others also begin to believe that the money transaction is genuine,” the officer defined.
As such modus operandi will get uncovered, the criminals are additionally innovating new methods of duping individuals.
Kshitij, an funding banker in Bengaluru, obtained a name claiming they have been customs officers from the Mumbai airport and a parcel allegedly containing medication marked in his title had been detained. He obtained the decision and promptly knowledgeable the cyber cell of the main points.
An identical name went to PR skilled Sunitha PK, who was given the identical info, and was requested to be current on the customs workplace in Mumbai on a date talked about.
“When I tried to call back on the number, it was diverted to a prepaid number of a shop in Bandra. I let it go. But next time I will surely register it as a case,” she mentioned, sharing her expertise with New18.
“Such cases are also on the rise. All we can say is beware and be smart,” the senior cybercrime official mentioned.
Other sorts of fraud that folks appear to be falling sufferer to are information theft, social media identification theft, scams looking for advance fee at no cost presents like iPhones, costly presents, loans, and gold schemes. Another fraud that’s seeing a hike includes bitcoins. Between 2017 and 2021, there have been no circumstances in any respect. However, from 2022 until date, there was a 46 per cent improve, the officer mentioned.
Source web site: www.news18.com
