HIGHLIGHTS

A young engineering graduate attempted to sell his old sofa for Rs 10,000.

He advertised on an online platform.

He received a call from an individual claiming to be Rakesh Kumar Sharma, a furniture dealer in the area.

If you’ve ever considered selling used furniture through online platforms, this cautionary tale serves as an essential read before you proceed with your next listing. A young engineering graduate experienced a harrowing cyber fraud incident that cost him a staggering Rs 5.22 lakh, stemming from an attempt to sell his old sofa set online. Let’s delve into the details of this alarming scam and learn how to protect yourself from falling victim to similar schemes.

Sampad Subhra Jena, a 21-year-old recent BTech graduate, aimed to sell his old sofa set for Rs 10,000, according to reports from TOI. On May 8, he posted an advertisement on an online platform. Shortly after, he received a phone call from an individual who introduced himself as Rakesh Kumar Sharma, professing to be a local furniture dealer. During their conversation, the caller negotiated the price down to Rs 8,000 and requested Jena to provide his bank details to initiate the payment.

This is where the situation began to deteriorate. The scammer informed Jena that the payment had not gone through and asked him for further banking details. In a misguided attempt to resolve the issue, Jena even shared his mother’s banking information. Subsequently, the fraudster claimed that money had been erroneously transferred to his own account from Jena’s mother’s bank.

For further insight, you can also read about a related incident where a retired government official fell victim to a digital arrest scam, resulting in a loss of Rs 4.2 crore.

“In a state of alarm, Jena arranged Rs 1.50 lakh from friends to ensure a sufficient balance, as per the scammer’s instructions. On May 10, the fraudster notified Jena that Rs 5.22 lakh had been mistakenly debited from their accounts and assured him that the money would be returned in cash,” the report detailed.

Unfortunately, the scammer never returned, becoming unreachable. In short order, Jena and his mother discovered that a total of Rs 5,21,519 had been siphoned off from several accounts.

For more instances of scams, you might want to look into a case where a Mumbai businessman lost Rs 2.3 crore due to a fraudulent stock trading advertisement.

Tips to Avoid Falling for Such Scams

• Do not share your bank details or OTPs with strangers, no matter how convincing they appear.
• Refrain from clicking on links or scanning QR codes sent by unknown individuals.
• Only use trusted platforms for transactions involving buying or selling items.
• If something seems suspicious, cease communication and consult your bank or local cyber police immediately.
• Always verify payment claims thoroughly before taking any actions.