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Finance company cheated by cyber frauds using unused mobile numbers

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The Central Cyber Crime police have registered a case of impersonation against unknown individuals for exploiting unused mobile numbers to defraud a financial company and absconding after obtaining loans worth ₹13.7 lakh.

The scam was uncovered when a bank employee, Ashok Krishna, reached out to an individual named Venkatesh to address a defaulted loan. To their surprise, Venkatesh denied ever having taken a loan from their firm. Upon further investigation, it was discovered that the company had issued consumer durable, business, and flexi loans using the mobile numbers associated with Venkatesh, all of which were generated in October of the previous year.

After a few EMIs, the customer became unresponsive to repayment requests, and attempts to contact him were fruitless as he was no longer reachable. The company managed to identify his address and approached him directly, only to learn that Venkatesh had discontinued the use of the mobile numbers against which the loans were generated, and had not even recharged them. It became evident to Mr. Krishna that someone had misused these numbers to defraud the company in Venkatesh’s name and disappeared with the money.

The authorities suspect that the firm’s negligence in granting the loans without due diligence may have been influenced by intense competition and targets set for the employees. As a result, the cyber crime police have filed a case of impersonation and cheating, and are actively pursuing the culprits responsible for the fraudulent loan activities.

In a separate incident, local realtor Seven Raj fell victim to cyber criminals who posed as bank executives and siphoned off ₹2.41 lakh from his account earlier this week. According to Seven Raj’s complaint, the scammers coerced him into updating his KYC for his bank account and threatened to block the account if he did not comply. Succumbing to the pressure, Seven Raj followed their instructions, including sharing the OTP he had received. Within minutes, a total of ₹2.41 lakh was deducted from his account. The East Division Cyber Crime Police are currently working to track down the perpetrators based on the transaction details provided.

These cases underscore the growing prevalence of cybercrime and the need for heightened vigilance and security measures to protect individuals and companies from falling victim to online fraud and scams. It also highlights the importance of thorough verification procedures and due diligence, especially when it comes to financial transactions and loan approvals.

As investigations continue, both the Central Cyber Crime police and the East Division Cyber Crime Police are committed to uncovering the identities of the culprits and ensuring that justice is served for the victims of these fraudulent activities.

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