Cyber fraud incidents in Mysuru and Patna result in significant financial losses

Two separate major cyber fraud incidents have been reported in India, targeting individuals through impersonation and fraudulent investment schemes.

In Mysuru, two senior citizens lost a combined Rs. 1.02 crore. In one instance, a resident was defrauded of Rs. 53.50 lakh after individuals posing as telecom and CBI officers claimed his documents were involved in illegal activities and money laundering. The victim was instructed to transfer funds from fixed deposits to various bank accounts to facilitate a purported verification process.

In Patna, a resident reported losing over Rs. 1.19 crore in an online trading scam. The victim alleged he was lured by advertisements on Facebook and contacted via WhatsApp by individuals claiming to represent wealth advisors and securities firms. After being encouraged to invest through specific trading applications and seeing initial small returns, the victim invested much larger sums. The fraud was discovered when the platform demanded a 20 per cent payment of purported profits before allowing any withdrawals.