The420 Cyber Crime Updates: From Investment Scams to Digital Arrests, Fraudsters Exploit Vulnerabilities Across India

Published

4 months ago

March 22, 2024

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Navi Mumbai Cyber Police Uncover Rs 4 Crore Cyber Fraud Network

Navi Mumbai cyber police identified two individuals, Mohnish Devendra Rajpal and Anshuman Arman Singh, involved in cyber fraud, with transactions totaling around ₹4 crore traced to their bank accounts.
Rajpal, previously a lodge owner and later disabled, allowed his account for cyber fraud transactions, receiving over 1% commission. He exchanged the fraudulently obtained money for cash in various cities.
Singh, a bakery operator from Lucknow, was introduced to the fraudulent scheme by Rajpal. Singh was arrested, while Rajpal received a notice under Section 41(a) of the Criminal Procedure Code 1973 but was released.
The fraud involved deceiving victims through social media, enticing them to invest in forex and crypto trading, with a total of 115 cyber complaints linked to their activities across various Indian states.
Investigation revealed the modus operandi of enticing victims to download a trading application, resulting in financial loss when they realized funds in their ‘wallet’ couldn’t be withdrawn. Charges have been filed in multiple states, and the cyber police have frozen a total of Rs 39,35,521 linked to the fraud.

Pune Doctor Loses Over Rs One Crore in Sophisticated Cyber Fraud

A Pune-based doctor was deceived by cybercriminals, losing over Rs one crore after being falsely accused of drug trafficking and money laundering, leading to a week-long ordeal of isolation and continuous surveillance.
The fraud began with a phone call from someone claiming to be a courier executive, informing the doctor that a parcel allegedly sent by him to Taiwan contained illegal drugs and suggesting his identity was being misused.
The victim received multiple Skype calls from individuals posing as officers from the Mumbai Crime Branch, using real names of serving officers and demanding his Aadhar card and financial details under the pretense of an official investigation.
The scammers manipulated the doctor into staying in a hotel under constant surveillance and coerced him into transferring funds to fake ‘government accounts’ under the guise of verifying his financials for the investigation.
Realizing he had been scammed after transferring a large sum of his savings, the doctor approached the cyber police, who have since initiated a probe into the fraudulent accounts used by the cybercriminals.

Ujjain IT Cell Recovers Over 2 Lakh for Cybercrime Victims

The IT Cell in Ujjain has successfully recovered Rs 2.16 lakh for victims of cybercrime as part of a special initiative.
In one case, a resident named Akash Rai reported unauthorized online transactions totaling Rs 1,26,000. The IT Cell, with the help of bank officials, managed to refund the amount after investigating and freezing the fraudulent account.
Another victim, Ashish Patidar, reported the loss of Rs 90,000 due to an unauthorized online transfer after his mobile phone fell near a hospital. The amount was traced to a nearby medical shop and subsequently refunded.
A third case involved Hakimuddin Johar, who reported a fraudulently created loan of Rs 52,500. The loan, falsely taken out in his father’s name, was canceled after intervention by the IT Cell and discussions with Bajaj Finance.
The victims availed of the cyber helpline service to report their issues, leading to the successful freezing of fraudulent accounts and reversal of unauthorized transactions.

Uttar Pradesh Professor Loses Rs 40 Lakh to ‘Digital Arrest’ Scam

A professor at a medical university in Uttar Pradesh was defrauded of Rs 40 lakh through a ‘digital arrest’ scam, where cybercriminals impersonate law enforcement to extort money.
She received a fraudulent call from someone claiming to be from Maharashtra, accusing her of illegal activities linked to a phone number and a bank account under her name.
The scammers, posing as police officers, threatened her with an arrest warrant, the freezing of all her financial accounts, and showed her falsified documents over Skype to substantiate their claims.
Under duress, the professor transferred a total of Rs 40.31 lakh to the scammers across two transactions on consecutive days.
After realizing the scam, she reported the incident to the cybercrime police station, leading to the filing of an FIR.

Mumbai’s South Cyber Police Arrest Mastermind Behind Rs 1.21 Crore Investment Scam

The South Cyber Police arrested Vilas Patade for a fraud of Rs 1.21 crore related to an investment scam, with charges filed under various sections of the IPC and IT Act.
A 69-year-old resident of Marine Drive was duped out of Rs 1.21 crore between August and November 2023, leading to a case being filed in February at the South Cyber Police Station.
The fraud involved a woman using multiple identities to gain the victim’s trust and then deceiving him into investing on a fake web page for stock trading, showing false profits.
Patade was found to be operating from Dubai, paying commissions to five to six individuals through bank accounts opened for this purpose and transferring fraud amounts to several fake companies.
The investigation revealed Patade was working under Deepak Goyal, who resides in Dubai, indicating a larger network involved in this cyber fraud operation.

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