HIGHLIGHTS

In a troubling incident, a retired government official lost a staggering Rs 22 lakh after engaging with a seemingly legitimate advertisement on a social media platform.

The scam evolved when the victim received a phone call from individuals pretending to offer him a credit card.

Under the impression that the offer was genuine, he disclosed sensitive banking information.

A retired government official recently became a victim of a deceptive scam that cost him Rs 22 lakh after he clicked on an advertisement on a social media platform. The victim had fallen prey to an alluring offer, which turned out to be a carefully orchestrated scheme by fraudsters masquerading as representatives of a reputable public sector bank. In this article, we explore the details of how the scam unfolded, along with valuable tips to help you safeguard yourself against such fraudulent activities.

The ordeal began when the retired official received a phone call from scammers who presented themselves as credit card agents. Trusting the legitimacy of the offer, the victim proceeded to share his banking details, including crucial OTPs (One-Time Passwords) and PINs. This catastrophic decision enabled the perpetrators to gain unauthorized access to his financial accounts, leading to the transfer of funds from both his fixed deposit (FD) and overdraft accounts. In total, the scammers siphoned off Rs 17.2 lakh from his FD and another Rs 4.8 lakh from his overdraft account. The stolen funds were then transferred to multiple accounts through his savings account, as reported by the Times of India.

To further illustrate the extent of the victim’s loss, it was only after he noticed the discrepancies in his bank accounts that he realized he had been duped. Upon conducting a thorough review of his accounts, he discovered a total of Rs 22 lakh had been illicitly taken from him.

How to Avoid Falling for Such Scams

• Be Wary of Unknown Calls: Exercise caution and refrain from sharing your bank account details or other personal information with anyone who calls unexpectedly, even if they claim to represent a well-known organization.
• Scrutinize Advertisements: Always approach ads on social media platforms with skepticism, particularly those promoting financial products or services. Verify the legitimacy of such offers through official channels.
• Enable Two-Factor Authentication: Enhance your security by activating two-factor authentication on all your bank accounts, providing an additional layer of protection against unauthorized access.
• Report Suspicious Activities: If you encounter any unsettling calls, messages, or activities, report them promptly to your bank and relevant authorities.

Additionally, to raise awareness about other scams, you may find it insightful to read about a related incident where an elderly man lost Rs 3.75 crore in an online trading scam. Here’s what happened and how you can stay safe.

Another cautionary tale involves a retired teacher who lost Rs 56 lakh in a digital arrest scam. If you’re interested in understanding the details of this incident, you can read more here.