Cyber Crime Wing, UCO Bank block Rs 16L investment fraud attempt

Kolkata: The Cyber Crime Wing (CCW) of the state police, with assistance from officials of UCO Bank, has partially foiled an investment fraud by blocking a transaction of about Rs 16 lakh.

According to sources, a retired senior manager of UCO Bank attempted to transfer Rs 16.56 lakh on December 22 to a bank account suspected to be a mule account. UCO Bank officials detected multiple complaints linked to the account on the National Cyber Crime Reporting Portal (NCRP). Acting promptly, the bank halted the transaction and alerted the CCW. After receiving the information, police contacted the retired official and sought details of the transaction. When he confirmed that the transfer was intended as an investment, officers concluded it was likely a fraudulent activity and immediately advised him not to proceed with the transfer.

During interaction with the victim, police learnt that he had already invested Rs 26 lakh through a mobile application named “PZENA”.

The CCW officials then assisted him in registering a formal complaint through the 1930 Cyber Crime Helpline, enabling immediate preventive and investigative measures to recover the amount already invested. CCW officials said that during a recent coordination meeting between senior police officers and bank nodal officers, emphasis was laid on early detection, transaction monitoring and proactive intervention by banks to substantially curb cyber-enabled financial frauds and protect citizens from major losses.

Police have urged citizens to remain cautious and not fall prey to fraudulent schemes. They have also advised investors to verify the authenticity of investment platforms and noted that genuine share-based investments are reflected only in Demat accounts maintained with the National Securities Depository Limited (NSDL) or Central Depository Services (India) Limited (CDSL).