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Online Scam
Bengaluru cyber crime Cyber Fraud Cyber Fraudsters Digital Arrest digital arrest fraud Financial Scam Online Scam

Bengaluru Techie Loses ₹11.8 Crore in “Digital Arrest” Scam Over 18 Days

 

A Bengaluru software engineer recently fell victim to a complex cyber scam, losing ₹11.8 crore in just 18 days. The incident highlights the growing sophistication of cybercrimes in India, particularly in tech hubs like Bengaluru. The victim, whose identity remains private, has filed a complaint with the North-East Cyber, Economic, and Narcotics (CEN) police station, prompting an investigation into the case. 

The scam began when the victim received a call from someone posing as an official from the Telecom Regulatory Authority of India (TRAI). The caller falsely claimed that a SIM card linked to the victim’s Aadhaar number was being used for illegal activities, including harassment and fraudulent advertisements. Soon after, another individual alleged that the victim’s Aadhaar had been misused to open a bank account involved in money laundering. 

To add credibility to their claims, the fraudsters insisted the victim participate in a “virtual investigation” via Skype. Over several calls, they impersonated senior police officers and pressured him to transfer funds for so-called “verification purposes.” They further threatened legal action and arrest of the victim’s family if he failed to comply. Under these threats, the victim made multiple payments, starting with ₹75 lakh and eventually transferring a total of ₹11.8 crore to different accounts. 

It was only after weeks of continuous coercion that he realized he had been deceived. Police have registered the case under relevant sections of the Information Technology Act and Bharatiya Nyaya Sanhita, including provisions related to cheating and impersonation. Investigators are now working to trace the accounts used by the fraudsters and identify those behind the scam. This case stands out not only because of the amount involved but also for its elaborate execution. 

Cybercrime in Karnataka has been on the rise, with losses amounting to ₹2,047 crore as of November 2024, according to government data. Bengaluru alone accounted for ₹1,806 crore of these losses, reflecting the city’s vulnerability as an IT hub. Experts warn that cybercriminals are employing increasingly sophisticated methods to exploit unsuspecting victims. They often leverage fear, urgency, and advanced digital tools to create a false sense of legitimacy. 

Public awareness campaigns and stronger cybersecurity measures are critical to addressing this growing menace. Authorities have urged citizens to remain cautious, especially when receiving unsolicited calls or emails. Sharing sensitive information such as Aadhaar details or transferring funds without verification can lead to devastating consequences. This incident serves as a stark reminder of the need for vigilance in an increasingly digital world.
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SMS
Cyber Attacks Cyber Fraudsters Cybersecurity HDFC Banks PAN Phishing Scams PIB SMS

Stay Alert Against Messages Like 'Account Suspended, Update PAN'



Banking fraud has increased in recent years. There has been an increase in digital phishing attacks claimed by HDFC Bank customers as the social media outcry has mounted in recent days. Several HDFC Bank customers reported to the authorities that many of the incidents involved phishing SMSes that they received in February. 

There are indications that they have adopted a revised method of operation to step up their efforts to protect others which may have been the case. To strengthen cybersecurity measures, phishing links masquerade as verification processes as part of their phishing campaign. 

There has been a significant number of customers who have been receiving false text messages in the last few days, which claim that they have been blocked or suspended because they have not updated their Permanent Account Numbers (PAN) because their PAN has not been updated. The message you are receiving is a fake one, so keep an eye out and be aware of it. 

The Public Information Bureau (PIB) has recently issued a warning to the customers of the State Bank of India (SBI) regarding fake messages purporting to be from SBI officials that claim the recipient's YONO account has been disabled as a result of a power cut. 

One of the most common ways scammers use to trick people is through phishing SMS messages, which is one of the methods they use to steal their money in different ways. Cyber fraudsters use phishing bank SMS as a means of scaring people away by telling them their bank account has been suspended by cyber thieves. 

A link is attached to the SMS and it asks the users to click on it to update their KYC or PAN details. The problem arises, however, when someone is tricked into believing that the SMS is legitimate and clicks on the link, and their phone is hacked and money is lost. 

Often more common than you might think is phishing SMS fraud. Most banks have issued an advisory informing customers not to be fooled by them. Earlier this month, HDFC alerted its customers that these types of frauds have been taking place. 

There was a viral HDFC bank SMS sent to some of its users that they received on their mobile phones. Some of their users tagged the bank with the message. There has been an attempt by fraudsters to create a fake HDFC Bank website, giving the false appearance that there is a verification process when it is not. HDFC customers have now received a link with the details of the offer.  

An alert was sent by Manoj Nagpal, the CEO of Outlook Asia Capital, who posted a picture of the infected email to Twitter with a description of what he had seen. The same message has also been received by many other customers as well. It has been recommended by Nagpal that people should refrain from clicking on links that have been sent via email or SMS.  

What Are the Methods Used by Fraudsters?

To use fraudsters to commit fraud. Here is how HDFC bank explains how this happens. 

First step: The fraudsters create bogus emails impersonating bank employees that ask consumers to activate a link in the email that instructs them to verify or update the account information in their accounts as soon as possible. 

Second step: When a customer clicks on the link provided by the email, the victim is taken to a fake site that appears to be the official website of the Bank. There is a web form on this site that allows the customer to enter their personal information so that we can communicate with them. 

If you doubt any SMS request, report any suspicious SMSes, or confirm a bank alert with a bank manager to avoid having your account hacked, make sure to check the sender's identity before acting on it.   

 A two-factor authentication system should be implemented for online banking to keep personal information secure. The OTP and password that you used to access your account must be entered every time you want to access it. Using your fingerprints as a second password is even possible if you have a secure device. The message you receive should not be clicked on and any unidentified links should be deleted.    

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