Infosys Employee Got Scammed of ₹3.7 Crore -

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Infosys Employee Got Scammed of ₹3.7 Crore

Know how Cybercriminals Exploit Fear To Cheat Techie

Bengaluru: An Infosys Employee Got Scammed of ₹3.7 Crore. The employee was of high rank at Infosys and was deceived by a clever cybercrime scam, resulting in a significant loss of ₹3.7 crore to individuals pretending to be officials from different Indian regulatory agencies.

The incident, occurring during a period of heightened tension, demonstrates the constantly changing strategies employed by cybercriminals to manipulate humans through the use of fear and authority.

The executive, located in Whitefield, received a distressing phone call on November 21, purportedly from a representative of the Telecom Regulatory Authority of India (TRAI).

The impersonator alleged that there was an ongoing criminal case against the executive at Vakola police station in Mumbai.

As the deception unraveled, the scammer intensified the intimidation by referencing an instance of illicitly moving funds connected to the victim’s Aadhaar card information.

Consumed by fear, the victim was compelled over the course of the next 48 hours to transfer a substantial amount of ₹3.7 crore from his personal account to several bank accounts, under the threat of immediate arrest.

The culprits disguised themselves as TRAI, Mumbai police, and Central Bureau of Investigation (CBI) authorities, brandishing forged documents and a prearranged video call from a location that resembled a police station, all carefully orchestrated to scare and extort.

The Cyber Crime Police expeditiously lodged a complaint and commenced legal proceedings under the Information Technology Act and pertinent provisions of the Indian Penal Code.

Once the financial loss exceeded ₹3 crore, the case was designated for transfer to the Criminal Investigation Department (CID).

Authorities promptly collaborated with banking institutions to immobilize the wrongdoers’ accounts, with the objective of limiting any additional unlawful actions.

Law enforcement officials highlighted the repeated misuse of TRAI and courier service disguises by hackers, who target innocent persons.

They recommended that potential targets instantly notify the authorities or consult with a lawyer upon receiving such threatening calls. This would discourage the scammers and provide an opportunity for careful deliberation.

The rising prevalence of these intricate fraudulent schemes highlights the urgent requirement for continuous surveillance and attentiveness. Both individuals and organizations must enhance their defenses against ever-changing cyber dangers. Implementing resilient monitoring systems can function as a preemptive barrier, promptly identifying dubious actions and notifying users of possible dangers.

Instances of this nature are not sporadic occurrences. Past occurrences have demonstrated how cybercriminals manipulate feelings of fear and figures of authority in order to achieve unlawful profits. In 2021, a comparable deception was utilized to target unwary individuals, posing as law enforcement authorities in the United States. They manipulated individuals into transferring substantial amounts of money by pretending to resolve fictitious legal matters.

Cybercriminals have a frightening way of operating, which requires increased awareness and proactive actions. Real-time monitoring is becoming an essential tool, providing a strong protection against deceptive strategies. The key to fighting cybercrime is equipping individuals and organizations with information, attentiveness, and strong technology defenses.

About The Author:

Yogesh Naager is a content marketer who specializes in the cybersecurity and B2B space. Besides writing for the News4Hackers blog, he’s also written for brands including CollegeDunia, Utsav Fashion, and NASSCOM. Naager entered the field of content in an unusual way. He began his career as an insurance sales executive, where he developed an interest in simplifying difficult concepts. He also combines this interest with a love of narrative, which makes him a good writer in the cybersecurity field. In the bottom line, he frequently writes for Craw Security.

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