Techie Couple Scammed Out of Rs 1.5 Crore; Know How Police Recovered Rs 1.4 Crore from 50 Account

BANASWADI : A tech industry couple from Bengaluru has managed to recover a significant portion of the money they lost in an online trading scam, thanks to the quick action of the local police. The East Division Cybercrime Police in Bengaluru successfully reclaimed Rs 1.4 crore out of the Rs 1.53 crore that had been swindled from the couple.

Details of the Scam

According to The Hindu, the couple from Banaswadi was deceived by fraudsters promising high returns on investments. These scammers, based in the UK, utilized a network of ‘mule accounts’ rented from individuals in North India to launder the stolen funds. They even created a fake website that allowed the victims to monitor their investments, giving the illusion of legitimacy.

Initially, the couple was encouraged by the apparent growth of their investment. However, when they tried to withdraw some of their funds after several months, they were blocked from the platform and the fraudulent website became inaccessible, revealing the scam.

ALSO READ:FutureCrime Summit: Biggest Conference on Cyber Crimes Set to Return in February 2025

Police Investigation and Fund Recovery

Following their realization of the scam, the couple reported the incident to the police. Through a detailed investigation and collaboration with bank officials, the authorities managed to trace the money flow and freeze over 50 accounts connected to the fraud. This prompt and coordinated effort led to the recovery of a substantial portion of the stolen money.

A police officer highlighted the importance of three key actions in cybercrime investigations: tracking the money trail and blocking accounts, obtaining timely information from the complainant, and filing the complaint within the critical first hour. The officer also emphasized the necessity of working closely with bank officials to expedite the process.

Advice for Avoiding Online Investment Scams

To protect yourself from online investment scams, consider the following precautions:

• Ignore Unsolicited Offers: Genuine investment opportunities rarely come through unsolicited emails, calls, or social media messages.
• Be Wary of High Returns: Offers of exceptionally high returns with minimal risk are often red flags for scams.
• Verify Entities: Conduct thorough research on the company and individuals involved before investing.
• Protect Personal Information: Avoid sharing sensitive personal details, such as Social Security numbers or bank account information, with unsolicited parties.
• Use Secure Websites: Only input personal information on websites with a secure “https” URL.
• Report Suspicious Activity: If you suspect an investment scam, report it to the relevant authorities promptly.

Follow The420.in on

Telegram,Facebook,Twitter,LinkedIn,InstagramandYouTube