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Rs three crore lost daily | Cyber criminals looted Telangana residents, most financial frauds through five crime patterns

The experts of Telangana State Cyber Security Bureau (TSCSB) have identified that financial fraud is being done online, especially through five criminal methods.

Representation picture: Economic office (ETV Bharat file)
Representation picture: Economic office (ETV Bharat file)

By ETV Bharat English Team

Published : Jan 1, 2024, 12:03 PM IST

Hyderabad: About Rs three crores per day. Rs.707.25 crores in eight months. This is the money lost by Telangana people in the hands of cybercriminals. Out of 16,339 cyber crimes committed in the state in 2023, up to 15,000 financial frauds were recorded, reflecting the seriousness of the situation.

The experts of the Telangana State Cyber Security Bureau (TSCSB) have identified that financial fraud is being done online, especially through five criminal methods. As more than 40 per cent of the cyber crimes recorded in the country are in Telangana alone, it is clear how cyber criminals are attacking the state. Experts stress the need to raise awareness about such scams.

  • Doing tasks and investing

Fraudsters send messages in the name of part-time jobs and ask the respondents to complete tasks. They say that if you watch and rate the videos on the website they refer to, you will get a lot of money. If you first invest Rs 1,000 and complete the task, you will get Rs 866 as a profit. So they are investing more. After putting in lakhs, the fraudsters are switching off their mobiles and escaping.

The Hyderabad Police said the residents of Chikkadapally lost Rs 28 lakh and the involvement of Chinese as well as terrorist groups was identified behind this. According to Hyderabad Police, it has been found that these gangs looted Rs 712 crore across the country.

  • In the name of courier

Cyber criminals are posing as courier employees. "They call and say that a parcel has arrived from abroad and handed over to the customs department as it contained drugs. After a while, someone calls saying the Customs or the Police have issued an arrest warrant. They collect as much as possible from Rs 1 lakh," police officials added.

  • By announcing that the goods will be sold

"Any vehicle or item for sale is advertised on websites. Those interested in buying are told that the vehicle is in the airport parking lot. Just send the transport charges and they will send it to the place of choice. So they start with thousands of rupees and steal as much as possible. Our investigation found that fraudsters from Bharatpur district of Rajasthan are using this method," the police officials added.

  • The card will be blocked

According to police officials, phones are being made under the guise of bank representatives to upgrade credit or debit cards and on failure, the criminals threaten that the card will be blocked. "By sending the malware to fill in the information through the link they send, they empty the account by taking the card expiry date, CVV number, and online banking details," they added.

  • With loan apps

"The criminals exploit money through loan apps. They asked to install the app first and given access to all the permissions. They charge high-interest and force you to pay within days. If people do not pay, they repeatedly call. If there are pictures of female family members on the phone, they threatening to make them naked and put them online and using this medium, criminals have looted crores of rupees," they added.

The Hyderabad Police appealed people to call 4123 if hey have any queries.

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