Hyderabad: Cyberabad police busted a cyber-criminal gang that cheated banks by taking loans in the name of IT employees who had died by submitting fake IDs and documents.
Identifying the accused as Nimmagadda Phani Chowdary, Mandava Swaroop Nath Chowdary, Pedavalli Srinivas Rao, Kandru Harish, Narne Venu Gopal and Ikkruthi Veera Shekhar Rao, police said that they were all wanted in many cases.
Phani Chowdary is the brain behind the fraud, which involved taking loans from banks by submitting documents of software employees who had died in accidents or because of illnesses. They collect details from social media and approach banks and collect customer ID and account details saying that they needed to deposit money in the accounts.
Subsequently, the accused login into net banking and click on “Forgot password” option and get the password changed.
The email IDs are collected from the internet or mobile stores or banks by giving their phone numbers. Once they come to know about the email ID, they find out account and credit card details and loans of the deceased. They get to access the net banking through the changed password and raise requests for instant pre-approved loans and credit cards. Later they transfer the amount to their accounts.
Based on a complaint from the senior manager of HDFC Bank, Hydera-bad, regarding misuse of HDFC credit card to the tune of Rs 2.76 lakh held in the name of the deceased Palaparthi Raghuram of Infosys by some unknown persons by impersonation and requested for taking legal action.
Cybercrime officials investigated and unraveled the mystery surrounding it and arrested six accused involved in the fraud on Saturday.
