Mumbai: Police uncover biggest digital racket in 40 days, online fraud of Rs 58 crore

News Topical, Digital Desk : The Maharashtra Police have uncovered the largest digital scam to date. Cybercriminals defrauded victims of ₹58 crore. The victims in this case are not under-educated, but highly educated and highly qualified. The victim is 72 years old, and his wife is also highly educated.

The victims had held high positions in several pharmaceutical companies. They still own several companies, and their wife also worked at a major bank. However, the fraudsters' methods were so cunning that the educated couple was unable to understand what had happened to them. Police have arrested seven people in connection with the fraud.

The game of fraud started from here

The fraud against the victims began on August 19th. On August 19th, the victim received a video call. The cyber fraudsters claimed to be from the CBI office and informed him that his bank account had been used for money laundering. They were told that ₹4.5 million had been laundered from his account, and that legal action would be taken and all accounts and assets would be seized.

During the video call, the fraudsters were dressed as police officers. To convince the couple, they created a police station and court setup on the video call itself. Court orders were sent via WhatsApp to make everything appear genuine.

The accused threatened the victims

The accused intimidated the victims and obtained all information about their property, mutual funds, investments, and bank accounts. The couple was placed under digital arrest and their information was being collected every two hours. The fraudsters demanded that they transfer the money to an account they specified to avoid prosecution. They were told to keep the video call on whenever they were at home and to keep the audio on when they went to the bank.

In this way, the fraudsters transferred 58 crore rupees to their accounts in 40 days. This digital arrest and deception scheme began on August 19th and continued for 40 days, with the last transaction being made on September 29th. During this time, the couple was so scared that they didn't tell anyone. Their two children are abroad, but they weren't even informed.

When they ran out of money to transfer the money to their account, the couple told their friend, who said something was wrong. They then realized they had been duped. Nevertheless, the victims filed a complaint 11 days later, and an FIR was registered on October 10th.

Police swung into action

The police swung into action and, so far, have arrested seven people in this case. They have also recovered ₹4 crore (approximately $1.4 million). Police say the fraudsters have become quite adept at fraud, and even educated individuals fall prey to them.

In this case, too, the fraudsters used modern technology. VPNs were used to ensure calls were untraceable. Money was transferred to various fake accounts. Many belonged to shell companies, while others belonged to individuals. Many of the transferred funds were withdrawn abroad.

Seven arrests have been made so far in this case. The investigation is still ongoing. Nine teams are investigating the case. Police say more arrests will be made in the coming days in connection with this largest digital scam.

What did ADG Cyber ​​say?

ADG, Maharashtra Cyber, Yashvi Yadav, says that such cases will not stop until the banking system is reformed. Fake accounts are being opened; strict rules and guidelines are needed to address this. Public awareness is also essential.

Read More: Mumbai: Police uncover biggest digital racket in 40 days, online fraud of Rs 58 crore