₹7 Crore Cyber Trail: Engineering Student Under Investigation for Digital Heist
Engineering Student’s Bank Account Used for Suspicious Transactions Worth ₹7 Crore
A costly mistake has landed an engineering student in hot water after his bank account was allegedly used for suspicious online transactions totaling nearly ₹7 crore.
The Incident
The student, who is enrolled in a reputable engineering college in Bengaluru, had shared his banking credentials with a youth named Ayush, whom he had been in contact with for nearly a year.
The student, unsuspecting of any foul play, shared his Karnataka Gramin Bank net banking user ID and password, an Airtel SIM linked to the ATM, and certain KYC documents with Ayush.
The Consequences
The account was subsequently used for multiple online transfers routed to different bank accounts, with the total transaction value reaching around ₹7 crore.
Police suspect that the funds may be linked to various cyber fraud cases and that the account was used as a “mule account” – a term used to describe an account used to quickly route fraudulent money through multiple layers, making detection difficult.
Investigation and Caution
The matter came to light when bank officials contacted the student regarding unusually large and irregular transactions.
Police have booked Ayush and other unidentified persons and begun tracking the digital trail.
Cybersecurity experts have cautioned that sharing banking credentials, OTPs, SIM cards, or net banking access with anyone poses a serious risk.
Police have urged students and young users not to share banking details under the pretext of friendship, job offers, or investment opportunities.
In case of suspicious activity, citizens have been advised to immediately contact the 1930 cyber helpline or report the matter at the nearest cyber police station.
A Growing Trend
The case highlights a growing trend where young individuals unknowingly provide bank access to cyber syndicates.
Fraudsters build trust through social media and messaging platforms, collect documents and credentials, and then use the accounts to route crores of rupees from online scams.
Technical evidence is being collected, and transaction details have been sought from multiple banks.
A Reminder
This incident serves as a reminder of the importance of maintaining digital banking security and the serious financial and legal consequences that can arise from a single lapse.
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