In a shocking incident that highlights the growing prevalence of cybercrime, a 75-year-old retired senior manager from Hyderabad, Telangana, has lost a staggering Rs 13 crore in what is believed to be the largest individual cyber financial scam reported in the state. The elderly man fell victim to a sophisticated scam that unfolded over a period of two months.
The Scam Unravels
The scam began on July 1 when the victim received a WhatsApp message promising lucrative investment opportunities. Enticed by the prospect of high returns, he invested Rs 4 crore within the first ten days. As his account balance soared to Rs 10 crore, he attempted to withdraw his funds, but the scammers concocted various excuses to prevent him from doing so. They claimed that additional payments were required to cover taxes, fees, and other charges. Believing he could recover his initial investment and the purported profits, the victim continued to transfer money to the scammers, eventually losing a total of Rs 13 crore.
A Delayed Report
Unfortunately, the victim realized he had been scammed only after 50 days. This delay has significantly hampered the chances of recovering the lost funds. Out of the Rs 13 crore withdrawn from his account, authorities have managed to trace only Rs 20 lakh so far.
The Money Trail
The stolen money was disbursed through various channels, including checks and ATM withdrawals from multiple bank accounts across different states. A substantial portion of the funds was also siphoned off to Dubai.
Investigation Underway
Law enforcement agencies are actively investigating the case and have interrogated several individuals in Hyderabad who were involved in withdrawing some of the stolen money. However, the complex nature of the scam and the widespread dispersal of the funds make it a challenging task to recover the entire amount.
This incident serves as a stark reminder of the increasing sophistication of cybercriminals and the importance of exercising caution when dealing with unsolicited investment offers. As technology continues to evolve, it is crucial for individuals to be aware of the latest scams and take necessary precautions to protect their financial information.
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