An elderly couple from Mumbai was tricked out of ₹4 Crore under the guise of ₹11 Crore.

elderly couple from Mumbai

An elderly couple from Mumbai was tricked out of ₹4 Crore under the guise of ₹11 Crore.

As per an officer’s statement, the incident came to light when the spouse of the 71-year-old male reported it at the Cuffe Parade police station.

Mumbai: According to police on Thursday, an elderly man from south Mumbai was tricked into paying ₹4.35 crore to a cybercriminal who claimed to be entitled to a ₹11 crore Provident Fund corpus.

According to an officer, the crime was discovered when the 71-year-old man’s wife went to the Cuffe Parade police station and filed a report.

“She claimed in her complaint that she spoke with a woman over the phone in May of this year. Reportedly, the caller identified herself as representing the Employees’ Provident Fund Organization (EPFO). The caller gave the victim all the pertinent details about the complainant’s husband in an effort to gain her trust,” he said.

The caller further informed the complainant that her husband’s company had contributed ₹4 lakh to his EPF account over a 20-year period, and he was now eligible to receive the ₹11 crore maturity payment.

Prior to this, the complainant’s spouse was employed by a well-known provider of IT services and consulting. The official stated that the couple had taken money out of their investments after they reached retirement age.

The caller then requested that the woman deposit the funds needed to pay income tax, GST, and TDS. He claimed that the woman occasionally followed her orders and moved money into the bank accounts because she believed her.

In this manner, the couple was defrauded of ₹4.35 crore by the accused woman. Between May and September, the victim was repeatedly urged to transfer money under a variety of false pretenses. However, the pair informed her that they were out of money when the caller persisted in seeking more,” he claimed.

The woman who had made the contact then began threatening to notify the IT department, he added.

The couple went to the police and filed a complaint on Tuesday after realizing they had been tricked, he added.

Based on the complaint, a first information report (FIR) was filed under various sections of the IT Act, including identity theft, and the Indian Penal Code (IPC), specifically section 34 (acts done by several persons in furtherance of common intention), 419 (cheating by personation), 420 (cheating and dishonestly inducing delivery of property), and 384 (extortion).

About The Author:

Yogesh Naager is a content marketer who specializes in the cybersecurity and B2B space.  Besides writing for the News4Hackers blog, he’s also written for brands including CollegeDunia, Utsav Fashion, and NASSCOM.  Naager entered the field of content in an unusual way.  He began his career as an insurance sales executive, where he developed an interest in simplifying difficult concepts.  He also combines this interest with a love of narrative, which makes him a good writer in the cybersecurity field.  In the bottom line, he frequently writes for Craw Security.

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