A 75-year-old woman in Bengaluru was recently reported to have fallen victim to a cyber fraud scheme that cost her a staggering ₹2 crore. The incident, which took place between December 9, 2024, and January 31, 2025, was brought to light by a news report from Times of India on February 7.
The elderly woman, a resident of Cooke Town in Bengaluru, had filed a complaint with the East CEN Crime Police detailing how she had been lured into investing in online trading by fraudsters posing as Girivasan Iyengar and Aisha Sithika from Hem Securities. These cybercriminals had promised her handsome returns on her investment in the Indian stock market.
In addition to convincing her to invest a substantial amount of money, the fraudsters also allegedly charged her a 15% commission on her investment. When the woman tried to withdraw her funds on January 31, she was told that she would have to pay a further commission and transaction fees to access her returns, with the assurance that the amount would be credited back to her within two days.
Unfortunately, after transferring the additional commission amount, the elderly woman found herself unable to contact the fraudsters any longer. Realizing that she had been swindled out of a significant sum of money, she promptly reported the matter to the cybercrime helpline (1930) on February 3.
Following the complaint, a case has been registered under the Information Technology (IT) Act and the relevant sections of the Bharatiya Nyaya Sanhita (BNS), and an investigation is currently underway to apprehend the perpetrators behind this elaborate cyber fraud scheme.
In light of this alarming incident, the Bengaluru police have issued warnings to residents to remain vigilant against falling prey to such cyber crimes, which have been on the rise in recent times. With many individuals losing substantial amounts of money to sophisticated online fraudsters, it is imperative for the public to exercise caution and due diligence when engaging in financial transactions or investments online.
As authorities continue to investigate this case and work towards bringing the culprits to justice, it serves as a stark reminder of the dangers posed by cyber fraud and the importance of staying informed and aware of potential scams in order to protect oneself from financial harm in the digital age.