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Time of India
5 days ago
- Time of India
Moshi resident loses Rs 53 lakh in digital arrest fraud
Pune: A general manager (47) of an automobile company lost Rs 53 lakh to cybercrooks in yet another digital arrest fraud between April 2 and 11. The victim is a resident of Moshi and lodged a complaint with the Pimpri Chinchwad cybercrime police on Saturday. After receiving the complaint, the cybercrime police team, led by senior inspector Ravikiran Nale, detained two mule bank account holders from Ahilyanagar district. Assistant inspector Pravin Swami of the Pimpri Chinchwad cybercrime police told TOI that the complainant works as the general manager with a prominent automobile company. "On April 2, he received a copy of a 'letter' on his mobile messaging app stating that his bank account was used for money laundering and a case was registered against him," Swami said. The officer said the victim contacted the number mentioned in the message. The person on the other end claimed to be an officer from the Mumbai crime branch. The person informed the victim that his bank account was used for money laundering and a case was registered against him which might lead to his arrest. "The person said the police and the bank needed to verify his bank account. The victim told the person that he had two bank accounts and requested him to verify both accounts," the officer said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Mix 4 Kitchen Ingredients, Wake Up Thinner Every Morning Health Now Undo Swami said the person then made a video call to the victim and connected him to the an alleged finance department head of Reserve Bank of India. "They then took the details of victim's bank accounts," Swami said, adding that the two suspects told the victim for bank to verify the accounts; he needed to transfer money to the Reserve Bank of India. They also assured the victim that the bank would return the money to him immediately after the verification. "Believing them, the victim transferred Rs 53 lakh to the three bank account numbers on April 2," the officer said. Swami said after getting the money, the crooks was in contact with him through a video call. They told him that the verification was ongoing and do not to disclose this to anyone. "The victim realised that he was duped when the 'police officer' and the 'bank officer' stopped responding to his calls. He then filed an online complaint," Swami said. The investigations revealed that the money was transferred to the three private bank accounts in Pune and then rerouted to a few more bank accounts. "Our investigations are ongoing," said an officer from the Pimpri Chinchwad cybercrime police.
Time of India
16-05-2025
- Business
- Time of India
Surat man held in Rs1.95 crore ‘CEO fraud'
Pune: The Pimpri Chinchwad cyber police arrested a man (22) from Surat in Gujarat on Friday, two days after a " CEO fraud " involving Rs1.95 crore on Wednesday. The cybercriminals, through a text message, convinced a boiler manufacturing company's accountant that the firm's director had requested for the money. Within four hours of the fraud, the Pimpri Chinchwad cyber police saved Rs1 crore. The firm's accountant had received a text message on WhatsApp, purportedly from the director of the company in Bhosari MIDC, who is also the CEO's father. The message stated that the "director" needed money for a deal and sought for a cash transfer, mentioning a bank account. The accountant attempted to call the director's son, the CEO, to confirm the transfer, but the latter's phone was busy. Without verification, the accountant sent Rs1.95 crore to the account mentioned in the text. He realised his mistake soon. After receiving a complaint in this connection, senior police inspector Ravikiran Nale of the Pimpri Chinchwad police dispatched two teams to trace the trail of the money transferred. Assistant police inspector Pravin Swami, who led one of the teams, discovered that the account number provided to the company's accountant was of a private bank in Coimbatore, Tamil Nadu. The amount was then transferred to different bank accounts. "We found that some money was transferred to Surat in Gujarat, and someone was withdrawing cash from there," Swami said. He said police sub-inspector Prakash Katkade rushed to Surat and took Jenil Waghela (22) into custody. "Waghela runs a copyright trademark business. He was found withdrawing the cash. He revealed two more names involved in the racket. Our investigations are on," Swami said.
Time of India
24-04-2025
- Business
- Time of India
Pimpri Chinchwad firm loses Rs 7.2cr to CEO fraud after accountant transfers money on instructions of ‘director'
Pune: A Pimpri Chinchwad 's automobile components firm was duped of Rs 7.16 crore in a ' CEO fraud ' where a crook posed as a firm's director based abroad, tricking the plant head into making the transfer between March 24 and April 20. The Pimpri Chinchwad cyber police registered a case on Wednesday after the accountant lodged a cheating complaint. You Can Also Check: Pune AQI | Weather in Pune | Bank Holidays in Pune | Public Holidays in Pune Senior inspector Ravikiran Nale of the Pimpri Chinchwad cyber police told TOI that the fraudster, who posed as the company's director, contacted the accountant through emails and a cellphone messenger app, instructing him to deal with a firm in China for the purchase of raw material. "In the message, the accountant was also told to transfer 7.38 lakh euros to the Chinese firm without any delay. The message sender also told the complainant that he had full authority to proceed with the transaction." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Google Brain Co-Founder Andrew Ng, Recommends: Read These 5 Books And Turn Your Life Around Blinkist: Andrew Ng's Reading List Undo The message also stated that the firm's legal adviser would send him the invoice and contract, Nale said. The officer said the accountant even replied to the message saying that the bank might raise doubts about the transfer of such a large amount, putting him in legal trouble. "The accountant even requested his the 'director' to involve another senior firm official in the deal. The 'director' then assured him that the deal was within the legal and regulatory framework, followed by a 'payment request letter' with the bank details in China and the beneficiary account details," Nale said. He said the 'director' also texted the accountant not to leak any details about the deal as it could affect the process, leading to severe penalties. "The 'director' also mentioned that the money would be refunded within 10 days by the firm's head office. Without verification, the accountant transferred 7.38 lakh euros (Rs 7.16 crore) to the bank account," he said. Nale said after the transfer, the accountant contacted the head office and realised that he was duped. "He approached the cyber police and lodged a complaint on Wednesday. Investigations have revealed that the money was transferred to a bank in China," the officer added. Pune: A Pimpri Chinchwad's automobile components firm was duped of Rs 7.16 crore in a 'CEO fraud' where a crook posed as a firm's director based abroad, tricking the plant head into making the transfer between March 24 and April 20. The Pimpri Chinchwad cyber police registered a case on Wednesday after the accountant lodged a cheating complaint. Senior inspector Ravikiran Nale of the Pimpri Chinchwad cyber police told TOI that the fraudster, who posed as the company's director, contacted the accountant through emails and a cellphone messenger app, instructing him to deal with a firm in China for the purchase of raw material. "In the message, the accountant was also told to transfer 7.38 lakh euros to the Chinese firm without any delay. The message sender also told the complainant that he had full authority to proceed with the transaction." The message also stated that the firm's legal adviser would send him the invoice and contract, Nale said. The officer said the accountant even replied to the message saying that the bank might raise doubts about the transfer of such a large amount, putting him in legal trouble. "The accountant even requested his the 'director' to involve another senior firm official in the deal. The 'director' then assured him that the deal was within the legal and regulatory framework, followed by a 'payment request letter' with the bank details in China and the beneficiary account details," Nale said. He said the 'director' also texted the accountant not to leak any details about the deal as it could affect the process, leading to severe penalties. "The 'director' also mentioned that the money would be refunded within 10 days by the firm's head office. Without verification, the accountant transferred 7.38 lakh euros (Rs 7.16 crore) to the bank account," he said. Nale said after the transfer, the accountant contacted the head office and realised that he was duped. "He approached the cyber police and lodged a complaint on Wednesday. Investigations have revealed that the money was transferred to a bank in China," the officer added.
