Hyderabad Man Loses over Rs 2 Lakh in Cyber Fraud

 Hyderabad: A private employee, who wanted a personal loan from a leading financial institution, passed on sensitive information to a cyberfraudster and lost Rs 2,10,889 in the proces.

The 51-year-old victim from Hyderabad had applied for a personal loan from a reputed financial institution. He received a call in no time. The scammer posing as representative of that company, told the victim that he was eligible for the personal loan and even sent him an approval letter to trick the gullible.

The fraudster asked him to make payments towards insurance fee, GST, loan completion charges, processing fee, TDS charges, withdrawal activation charges, late payment fees, etc.

Despite doing numerous transactions, the victim was totally unaware about the scam, he realised it when he wanted an update on loans. At that time, the fraudster became unresponsive. Realising something fishy, the victim then approached the cybercrime officials and filed a complaint.

To prevent fraud, the cybercrime officials keep on warning citizens to check whether a lender was approved by the RBI. To check the authenticity of the financial institution, one should be aware of the physical office and the location, company’s identification number, certificate of registration and others.