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Hyderabad scam: Man loses ₹12 lakh in ‘misuse’ of Aadhaar card after receiving call from fake FedEx official

Hyderabad scam: Man loses ₹12 lakh in ‘misuse’ of Aadhaar card after receiving call from fake FedEx official

A 23-year-old employee of a private company in Hyderabad was the victim of a 12 lakh parcel scam, prompting Hyderabad cybercrime police to launch investigation.

As reported by The HinduIn this scam, the victim was falsely informed about the misuse of his Aadhaar number for a courier from Mumbai to Saudi Arabia. The courier allegedly sent illegal drugs and diabetes pills.

Also Read: Online Payment Fraud: Beware of These 5 Most Common Scams in India That Everyone Should Know About to Protect Their Money

The scammers then forced the victim to transfer money, under the guise of proving his innocence, by threatening him during a Skype video call.

Authorities urge victims of such cyber financial fraud to immediately report incidents through Cyber ​​Crime helpline number 1930 or cybercrime.gov.in. Help is also available through WhatsApp at 8712665171.

Also read: 5.2 crore gone in one click: Bengaluru man scammed by online fraudsters via WhatsApp

Earlier in May, the Reserve Bank of India’s annual report highlighted a sharp rise in fraud cases in the banking sector, with the number of incidents increasing by almost 300% to 36,075 cases in the financial year 2023-24 (FY24). Despite the significant increase in the number of cases, the total amount involved in fraud fell from 45,358 crore in FY22 to 13,930 crore in FY24.

According to the report, online fraud cases have increased by 708% in the past two years to 29,082. The rising number of fraud cases coincides with increased amounts of fraud via internet banking/cards. In two years, the amount of money defrauded online by fraudsters has increased by 145% to 1,457 crores.

Also read: Online fraud cases rise 708% in two years, amount up 145%: RBI report

According to the central bank’s report, 67% of the fraud cases reported in FY24 were from private sector banks, while 75% of the total fraud amount was reported from public sector banks. The percentage of fraud amount reported by private lenders was 22.8% in FY24.

In FY24, a substantial number of fraud cases were reported in the internet/card category, but the largest monetary losses arose from loan portfolios. Public sector banks notably outperformed private sector lenders in this regard. Of the total reported fraud amount of 13,930 crore, of which 84% came from advances, particularly under the loan portfolio category.

Private banks reported the highest number of fraud cases, while state banks continued to contribute the highest amount to fraud.

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