₹1 Crore lost by an Elderly as Social Engineering Introduced in Cyber Fraud Techniques

₹1 Crore lost by an Elderly as Social Engineering

₹1 Crore Fraud to an Elderly by Social Engineering Cyber Fraud Technique

₹1 Crore lost by an Elderly as Social Engineering Introduced in Cyber Fraud Techniques

The technology and the companies are going forward to secure their various IT infrastructures by employing numerous methodologies of Social Engineering techniques in doing Cyber Fraud by changing their tactics to accomplish their personal illicit goals related to doing more cyber frauds with innocent citizens.

Recently, in the name of giving bonuses on insurance policies, fraudsters cheated an amount of more than ₹1 Crore from an elderly person.  This amount was cheated from him in about one and a half years. Every time he was told that the bonus of the insurance policy had increased and he kept on depositing the money. The accused also took three mobile phones as gifts from them to get their work done quickly. On his complaint, Rohini Cyber ​​Cell has registered a case in this regard and started searching for the accused. In this regard, a well-known Cyber ​​Expert Mohit Yadav has confirmed that this type of technique is called Social Engineering Fraud.

A Planned Strategy to Loot ₹1 Crore by Sher Singh

According to the sources, Sher Singh, the elderly victim, lives in the Karala village of Kanjhawala in New Delhi along with his family.  In October 2019, a young woman named Sushma Tiwari called her and told him that she was speaking from IGMS (Integrated Grievance Management System) Mumbai, an online consumer complaints registration system created by IRDA for solving queries and other issues of common people.  She told him further that Max Life Insurance has got a bonus on his policy.  For obtaining the bonus amount, he would have to deposit a sum of ₹8,234/-.

Moreover, she also explained that he had to submit his Aadhar Card, Cancelled Cheque, PAN Card, and Photo. In October 2019, Sher Singh first deposited this amount in the mentioned bank account mentioned by the scammer woman. After this, he got a call from a man calling himself Mukesh Mohan Negi pretending to be the investigating officer in his case.

In the name of different formalities, he slowly started taking money from them. Every time he deposited the amount whereas he did not get any money as a bonus from them. The accused also took three precious mobiles from them to get the work done quickly.  In this manner, in the last one and a half years, he has deposited more than one crore rupees in different bank accounts.  Even after this, when he did not get any bonus, he realized that he was cheated.  He informed the police about the matter. Rohini Cyber ​​Cell Police Station has registered a case in this regard.

Read also: Cleartrip – a Flight Booking Platform owned by Flipkart hit by a major data breach

Cyber Security Expert – Mohit Yadav’s Advice

Furthermore, a highly famous Cyber Security Expert Mr. Mohit Yadav explained that a huge number of gangs cheat with the same methodology. I.e. In the name of bonuses or renewal of insurance.  These people buy such data from third parties and then call those people and make them victims of fraud.

He told that in this way no insurance company calls its customer. It has been seen in such cases that people get caught in greed and obey the fraudsters and deposit money in the bank. This type of fraud technique is widely termed as social engineering fraud in the world of cyber fraud. Such gangs have been caught many times but by taking advantage of the greed of the people, they become active again.

In the bottom line, Mohit Yadav described that this particular gang takes the data of the insurance customers from any third-party company selling an illicit version of names, numbers, Email IDs, and other important databases of insurance policies holding customers so that they can make them a victim of their personal illegal greed.

Key Precautionary Methods described by Cyber Security Expert Mr. Mohit Yadav are as follows:

About Author

Leave a Reply

Your email address will not be published. Required fields are marked *

Open chat
Can we help you?