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Delhi man receives missed calls, loses Rs 50 lakh; cops suspect SIM swapping

Cybercrooks fraudulently took away Rs 50 lakh from the account of a top executive of a Delhi-based security services firm by repeatedly giving him missed calls on his mobile phone. They didn’t ask for a one-time password (OTP). Know the whole incident here.

Delhi man receives missed calls loses Rs 50 lakh cops suspect SIM swapping gcw
First Published Dec 13, 2022, 3:44 PM IST

Without even asking for their OTP numbers, fraudsters in Jamtara, India, are adopting sophisticated methods to defraud people out of their money. In one incident, a man from Delhi who had missed several calls on his phone had 50 lakh rupees taken from his account. Notably, the fraudsters didn't ask him about any OTP yet made several transactions across the victim's multiple accounts.

According to reports, a south Delhi-based security services director lost Rs 50 lakh to online fraud. The victim, according to reports, got several missed and blank calls on his cell phones between 7pm and 8.45pm a few days ago. Some of the calls he answered, but none of them were answered when he picked up the phone. The victim was astonished to find notifications of Real Time Gross Settlement (RTGS), or real-time settlement of financial transactions, when he checked his cell phone to check for messages after a while.

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After some time passed, he checked his phone for a message and was shocked to see that 50 lakh had been deposited from real-time gross settlement (RTGS). The incident has been reported. The early findings indicate that this scam was likely committed in Jamtara.

The authorities suspect that the fraudsters used the "SIM switch" method to pull off the robbery. By exploiting a weakness in two-factor authentication, or two-step verification, where the second step is either a text message or a phone call to a mobile phone, fraudsters may take over a person's account and steal their money.

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According to the report, the authorities are also looking into further possibilities, such a phone hijacking. A businessman from Ahmedabad had his SIM cards disconnected and received a missed call in January of this year. Later, he found out that Rs 46 lakh had been taken from his bank account. Another Mumbai-based businessman lost Rs. 1.86 crore in a comparable occurrence in 2020 after receiving six missed calls at night,

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