A Techie Couple Duped of ₹1.5 Crore | Know How Police Recovered ₹1.4 Crore from 50 Accounts
A Techie Couple Duped of ₹1.5 Crore | Know How Police Recovered ₹1.4 Crore from 50 Accounts
Banaswadi, Bengaluru: As a result of the prompt actions taken by the local police, a couple from Bengaluru who operate in the technology business were able to retrieve a sizeable percentage of the money that they had lost as a result of an internet trading scam.
Out of the total amount of ₹1.53 crore that had been stolen from the couple, the East Division Cybercrime Police in Bengaluru was able to successfully recover ₹1.4 crore.
The Specifics of the Fraud
The pair from Banaswadi was allegedly taken advantage of by con artists who promised them substantial returns on their money, as reported by that publication. As a means of laundering the stolen money, these con artists, who were located in the United Kingdom, exploited a network of “mule accounts” that were rented from individuals in Northern India.
For the purpose of presenting the impression that their actions were legitimate, they even developed a false website that enabled the victims to keep track of their investments.
When the couple first saw the apparent development of their investment, it gave them reason to be optimistic. Nevertheless, after a number of months had passed, when they attempted to withdraw some of their monies, they were prevented from accessing the platform, and the bogus website in question became unreachable, therefore exposing the hoax.
Police Investigation and Fund Recovery
Following the couple’s awareness that they had been taken advantage of, they went to the authorities to report the occurrence. By conducting a comprehensive investigation and working along with bank officials, the authorities were able to reconstruct the flow of money and freeze more than fifty accounts that were associated with the fraudulent activity. A sizeable percentage of the money that had been stolen was successfully recovered as a result of this rapid and concerted effort.
The necessity of three important activities in cybercrime investigations was brought to the attention of a law enforcement officer. These acts include following the money trail and freezing accounts, receiving timely information from the complainant, and making the complaint within the vital first hour. To further underline the importance of working closely with bank authorities to speed up the procedure, the officer further emphasized the matter.
Guidelines for Staying Away from Fraudulent Online Investments
It is important to take the following precautions in order to protect yourself from fraudulent Internet investment schemes:
- Ignore Useless Offers: Unwanted offers should be ignored since genuine investment opportunities are not typically presented in the form of unwanted emails, phone calls, or messages on social media.
- Be Wary of High Returns: Offers that promise unusually large returns with a low level of risk are frequently indicators that the offer is a fraud.
- Verify Entities: Before investing, it is important to verify the entities involved by conducting extensive research on the company and the individuals involved.
- Protected Personal Information: It is important to refrain from disclosing sensitive personal information to individuals who have not been asked for it, such as Social Security numbers or bank account information.
- Utilize Secure Websites: When entering personal information, you should only do it on websites that have a secure “https” URL.
- Report Suspicious Activity: It is imperative that you instantly report any suspicious activity to the appropriate authorities if you have any suspicions about an investment scam.
About The Author:
Yogesh Naager is a content marketer who specializes in the cybersecurity and B2B space. Besides writing for the News4Hackers blogs, he also writes for brands including Craw Security, Bytecode Security, and NASSCOM.
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