LOOK AFTER! Husband lost Rs. 64 lakh from bank account in online scam; how phone hacking was done

A man from Jaipur has lost Rs. 64 lakh in an online scam from his bank account. The horrific cybercrime was carried out by mysteriously disconnecting his phone.

A businessman in Jaipur has lost Rs. 64 lakh in a mysterious way. The online scam has led city police to consider the possibility that the man’s cell phone is mysteriously being compromised. Shockingly, this was not a cybercrime carried out in minutes. The whole cell phone scam took place in a whopping two days without anyone even knowing it was happening! It all started after the businessman noticed on Friday, February 11, that his smartphone suddenly lost the network connection. The chain of events that followed left both the victim and the police confused and aroused suspicion that it was an advanced sim swapping scam.

This one online scamsAlso known as SIM swap scams, cybercriminals first load malware onto a user’s phone in order to find out basic personal and financial information on the smartphone. They then call the victim and pose as a representative of the network provider and ask for personal information. If the user is gullible enough, he can actually provide this information to the caller. That’s when he seals his own fate and money loss is inevitable. Once the fraudsters get this information, they call the telecom provider’s office and request a new SIM card and prove their identity based on the information they got from the victim. Once this is done, the victim’s cell phone loses connection and the scammer gains access to the phone, which allows them to transfer the money to themselves as all financial SMS and OTPs are now controlled by them. While it cannot be confirmed whether this is exactly what happened in this cybercrime, the online frauds that have taken place are of a very similar nature.

How This Man Lost Rs. 64 lakh in this online scam

The online scam came to the attention of police when Rakesh Tatuka, a 68-year-old businessman in the city, filed an FIR, the Times of India reported. According to his FIR, Tatuka says he mysteriously lost connection to his mobile phone network on Friday night. Noticing this malfunction, he contacted his friend and the company’s business partner. To his surprise, he also reported the same problem on his smartphone.

Seeing how both their networks had the outage, they decided to contact the telecom company, assuming there was a problem on the part of the network provider. The next day, when visiting the network provider’s branch, they asked for new SIM cards to quickly solve the problem. Both Tatuka and his business partner were given individual SIM cards. However, there was a delay in activating the SIM card, which is a normal procedural delay. And because of this, they couldn’t use the number for a while, which gave the cyber criminals time to carry out their plan to steal the money.

Meanwhile, they both checked into their company’s bank account via internet banking. Oddly enough, they found out that there was a login error that prevented them from opening the account. Tatuka even tried to login to his personal account and got the same failure. This is when he suspected that an online scam had taken place.

In a frenzy, Tatuka called his bank’s customer service number. To his horror, the operator told him that only Rs. 300 were left in his company’s account and Rs. 700 remained in his own personal account. Apparently, the scammers hacked into both Tatuka’s and his business partner’s cell phones and deactivated their SIM cards to gain control over those numbers. And by the time they regained access to their number, it had already lost Rs. 64 million.

Satish Chand, SHO, told Times of India reports that an investigation is underway and police are checking for a breach of the two mobile phones. He added that given that both of their mobile phones suddenly lost connection, it was suspected that their numbers had been compromised.

SIM swapping scams can be very dangerous. So, to make sure you protect yourself, don’t give sensitive information to anyone calling on behalf of the network providers. They already have your details and will not call you. Also, do not click on WhatsApp messages, emails or other links received on social media accounts. These links will ask for your information and then use it against you.

Arun Agarwal
I am Arun Agarwal, a passionate blogger and gamer. I love to share my thoughts on games and technology through blog posts. I’m also an avid reader of books about history, philosophy, science-fiction, and other genres as well as an anime fan. I like reading books that give me new perspectives or help me think differently about the world around us.