In a shocking incident, S.P. Oswal, the 82-year-old chairman of the Vardhman Group and a Padma Bhushan awardee, fell victim to a sophisticated cyber fraud, losing ₹7 crore.
The Elaborate Scam:
Initial Contact: Oswal received a call purportedly from the Telecom Regulatory Authority of India (TRAI), threatening service disconnection if he didn’t comply.
Impersonation of Authorities: Fraudsters posed as Central Bureau of Investigation (CBI) officers, claiming his Aadhaar was misused in fraudulent activities. They conducted video calls in police uniforms with CBI logos in the background.
News Laundry
Fake Legal Proceedings: They organized a fake Supreme Court hearing via Skype, with someone impersonating Chief Justice D.Y. Chandrachud, and issued a counterfeit arrest warrant.
The Indian Express
Coercion and Extortion: Under the pretense of bail proceedings, they coerced Oswal into transferring ₹7 crore to their accounts, threatening immediate arrest if he refused.
Investigation and Arrests:
The Ludhiana Police swiftly intervened, arresting two suspects from Guwahati and recovering ₹5.2 crore, marking one of the largest seizures in India’s cybercrime history.
Protective Measures Against Such Scams:
Verify Identities: Always authenticate the identity of individuals claiming to be officials through official channels.
The Economic Times
Be Skeptical of Unsolicited Calls: Exercise caution with unexpected calls threatening legal action or demanding money.
Avoid Sharing Personal Information: Refrain from disclosing sensitive information over phone or email without verification.
Consult Legal Counsel: Seek legal advice when confronted with legal threats or demands for money.
Report Suspicious Activities: Immediately inform local authorities about any suspected fraudulent activities.
Stay vigilant and informed to protect yourself from sophisticated AI-based cyber frauds.
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