HIGHLIGHTS

Scammers impersonating bank representatives successfully tricked a Bengaluru man into using a new smartphone and SIM card to activate a credit card.

Cybersecurity professionals suspect that the new phone was loaded with malware, enabling the scammers to bypass security protocols and misappropriate funds.

Law enforcement agencies have initiated an investigation and are advising the public to stay vigilant against similar fraudulent schemes.

A 60-year-old resident of Bengaluru has fallen victim to a sophisticated scam, resulting in a staggering loss of Rs 2.8 crore. The fraud unfolded as the perpetrators impersonated bank employees and convinced him to activate a credit card using a new smartphone and SIM card they provided. The scammers reached out to the victim via WhatsApp, presenting enticing credit card offers that lured him into accepting their dubious proposal. Following their instructions, the victim unwittingly granted scammers access to his bank account, leading to substantial financial losses. Here’s a closer examination of how this scam was orchestrated.

The Mechanics of the Scam:

The victim received a WhatsApp call from individuals masquerading as Citibank representatives in November of the previous year. They falsely asserted that a credit card had been issued under his name and required activation. To facilitate this process, they insisted that he switch to an Airtel phone number. The scammer offered to dispatch a new smartphone along with a SIM card to the victim’s home to ensure a seamless activation.

For more insights, check this article: Ludhiana man loses Rs 14.9 lakh in smart health card scam: Here’s what happened.

The victim, believing the con artists, accepted the offer. On December 1, he received a Redmi smartphone worth Rs 10,000, along with the promised SIM card. Following the instructions provided by the scammers, the victim used the SIM card to activate the new credit card. Shortly thereafter, he noticed he was no longer receiving notifications from his bank and decided to check his accounts, only to discover that Rs 2.8 crore had been egressed without his consent.

Cybersecurity analysts have surmised that the Redmi device sent to the victim was embedded with malware. This malicious software enabled the scammers to capture sensitive information as soon as the phone was configured, compromising the victim’s bank details. As a result, they were able to bypass conventional security measures, facilitating the undetected withdrawal of vast sums of money. Following this alarming incident, law enforcement agencies have launched a thorough investigation.

How to Protect Yourself:

To safeguard against such scams, consider the following precautionary measures:

1. Be cautious: Remember that banks never distribute free smartphones or SIM cards as part of credit card activation schemes.
2. Guard your personal information: It is crucial to refrain from disclosing sensitive details like banking information and One-Time Passwords (OTPs).
3. Avoid unsolicited calls: Do not engage with random WhatsApp calls, especially from unknown numbers.
4. Do not utilize unfamiliar devices: It’s advisable to avoid using SIM cards or smartphones received from suspicious sources.
5. Report dubious activity: If you sense something is off, promptly inform your local cybercrime unit or law enforcement to investigate.