A shocking case of cyber fraud has come to light in Pune, in which a 62-year-old retired bank manager was defrauded of Rs 2.22 crore. For several months, the scammers posed as government officials and convinced the victim to invest in multiple policies. This incident has raised serious concerns about the growing threat of cyber scams targeting vulnerable individuals.
According to the police complaint reported by the Indian Express, the scam began in late 2023 and continued until recently. During this period, the victim received multiple calls from persons pretending to be officials of well-known organizations including the Finance Ministry, Insurance Regulatory and Development Authority of India (IRDAI) and National Payments Corporation of India (NPCI). These scammers claimed to represent these agencies and convinced the victim to purchase multiple insurance policies, promising high returns on maturity.
The scammers used the names of famous personalities like Deendayal Upadhyay and created fake titles for finance experts and government officials to make their scheme more credible. The calls seemed so legitimate that the victim easily believed them. As the scam progressed, the victim was persuaded to purchase multiple insurance policies and asked to pay various charges including GST, Income Tax, TDS, transaction fees, verification fees and NOC fees.
The report shows that the scammers used at least 19 different identities to keep up the ruse. Every time the victim paid for insurance policies, the fraudsters asked for more money, claiming it was for processing or recovery charges. As the scam continued, the victim received calls from fake officials who said that his earlier payments had been sent to fake accounts.
To recover the lost money, he was instructed to make further payments. This caused him to lose even more money. Throughout the duration of the scam, victims lost their savings while being manipulated and threatened by the scammers. The case is still under investigation and authorities are warning people not to trust calls or offers that seem too good to be true.
Here's how to stay safe:
– Verify the identity of the caller: If you receive calls from unknown numbers claiming to be from government agencies or financial institutions, always double-check their identity using the official contact details from their website.
– Keep your personal information safe: Never share personal or financial details, such as bank account numbers, OTPs or policy numbers, over the phone or with people you do not know.
– Question unrealistic offers: Be wary of investments that promise unusually high returns or profits. If it sounds too good to be true, it probably is.
– Confirm payment requests: If asked to pay charges like GST, TDS or other charges, always confirm the validity of the request with the concerned organization before transferring any money.
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