Bengaluru techie couple lose Rs 1.53 crore in trading scam, police help recover Rs 1.4 crore; here's how

By Vinaykumar Patil | First Published Aug 10, 2024, 12:49 PM IST

A Bengaluru couple recovered Rs 1.4 crore from an online trading scam, with the East Division Cybercrime Police playing a crucial role. The scammers, based in the UK, used fake websites and mule accounts. Authorities emphasized the importance of quick reporting and vigilance against online fraud.

A tech industry couple from Bengaluru has successfully recovered a large portion of the money they lost in an online trading scam, thanks to the quick response of local law enforcement. A couple from Bengaluru has successfully reclaimed Rs 1.4 crore out of the Rs 1.53 crore stolen from them in an elaborate online investment scam, thanks to the prompt intervention of the East Division Cybercrime Police.

The couple, who reside in Banaswadi, fell prey to scammers who lured them with promises of high returns on their investments. The scammers, located in the UK, used a network of 'mule accounts' rented from people in North India to launder the embezzled money. To further deceive the victims, the scammers created a fake website that made it appear as though their investments were growing, reported The Hindu.

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Initially, the couple was pleased with the apparent progress of their investment. However, after a few months, when they attempted to withdraw some of their funds, they found themselves blocked from the website, which had suddenly become inaccessible. It was then that they realized they had been duped.

After uncovering the fraud, the couple alerted the police about the incident. The East Division Cybercrime Police acted quickly, investigating the case and coordinating with bank officials. Their efforts led to the freezing of over 50 accounts connected to the scam, allowing them to recover a significant portion of the stolen money.

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A police officer involved in the case explained the process: "In every cybercrime case, the team follows three essential steps: tracking the financial transactions and blocking the involved accounts, obtaining timely information from the complainants, and registering the complaint within the crucial first hour. Coordination with bank officials and maintaining strong communication are also key to resolving such cases swiftly."

Authorities have advised the public to be cautious when dealing with online investment offers and to report any suspicious activity without delay.

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