Credit Card Fraud: Scam Claims to Cancel Protection Service, Lakhs Stolen

Post Views: 9

A 29-year-old individual from the Kampoo police station jurisdiction in Gwalior reported being deceived out of ₹1,06,170 through a cyber fraud scheme involving a fraudulent credit card protection service.

The Scam Unveiled

The scam involved a perpetrator impersonating a bank employee, guiding the victim to a malicious link that facilitated unauthorized transactions. The victim, Javed Khan, a resident of SAF Lines, received a call from an unidentified number on the evening of August 14. The caller claimed to represent Axis Bank and alleged that a “Cyber Fraud Card Protection Service” had been enrolled on his credit card, with a monthly fee scheduled for deduction.

Victim’s Response

When Khan expressed intent to cancel the service, the fraudster instructed him to access an online form via a link sent through a secondary mobile number. The victim complied, believing the communication to be legitimate. Upon initiating the process, Khan received a transaction alert indicating ₹1,06,170 had been deducted from his account. Realizing the deception, he immediately contacted the bank’s customer service to freeze the card.

Investigations Underway

He also filed a report with the national cybercrime helpline (1930) and lodged a formal complaint with local authorities. Investigations by the cybercrime cell are focused on tracing the mobile numbers used by the perpetrators, analyzing the malicious link, and reviewing digital transaction records. Authorities are examining the financial pathways through which the stolen funds were transferred, including potential links to other accounts or fraud networks.

Expert Advice

The cyber team is also scrutinizing the domain and server infrastructure associated with the fraudulent link to identify operational details. Preliminary analysis suggests the scam exploited trust in banking institutions by mimicking official procedures for service cancellation. Law enforcement is assessing whether similar tactics were employed in other cases.

Cybersecurity experts advise users to verify any requests related to financial services through official bank channels rather than unverified links or unsolicited communications. Customers are urged to exercise caution when receiving messages from unknown sources, particularly those demanding immediate action regarding account management or payment processing.

Case Significance

The case underscores the evolving tactics of cybercriminals in leveraging financial service terminology to manipulate victims. Ongoing investigations aim to identify the individuals responsible and recover the stolen funds.