In a major cyber fraud case, aBengaluruengineering student, Mallipeddi Reddy, found himself stuck in a Rs 7 crore financial scandal after allegedly sharing his bank details with a friend. Reddy claimed that his friend, Ayush, misused his bank account for fraudulent transactions without his knowledge. The incident reportedly began when Ayush said his own account had been blocked, prompting Reddy to share sensitive information, including banking credentials. After months, the student filed a complaint against his friend and regarding the massive transactions from his bank account, leading to the police launching an investigation into the large-scale fraud.
Reddy, a student at MS Ramaiah Hospital, lodged a complaint with the North Division Cyber Crime Police Station, alleging that his bank account was exploited for large-scale fraudulent transactions.
It all began in November last year when Ayush claimed his own bank account was blocked due to insufficient funds. Trusting his friend, Reddy shared sensitive banking information, including access details for his Karnataka Gramin Bank account, via post.
Reddy provided not only his bank details but also linked ATM SIM information and net banking credentials. Ayush confirmed receipt of this information through WhatsApp messages, which later became pivotal in the investigation.
Months later, Reddy received a call from his bank, informing him of numerous suspicious transactions associated with his account. The bank's intervention led to the immediate freezing of Reddy's account to prevent further misuse.
Upon realising the extent of the cyber fraud, which involved nearly Rs 7 crore, Reddy alerted the police.
The North Division Cyber Police have since registered a case against Ayush and other unidentified individuals involved in this cyber scam.
The police's inquiry has raised concerns about the rising incidents of cyber fraud, particularly involving trusted acquaintances. As investigations continue, authorities are working to establish a comprehensive understanding of how the fraud was executed and the mechanisms used to siphon off such a substantial amount.
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