South Delhi: Bizman duped of over Rs 50L using SIM-swap technique

New Delhi: In another major case of cyber fraud in the national capital, a South Delhi-based businessman was duped of more than

Rs 50 lakh by unknown fraudsters through missed calls, the police said Tuesday. Cops confirmed that the businessman had not shared his OTP or personal details with the accused though.

According to the complaint, he received a series of missed calls from an unknown number, he picked up one of the calls but the caller did not say anything. However, later, the complainant man found out that multiple transactions were made from his account and he lost over Rs 50 lakh.

Meanwhile, the senior official of the city police confirmed that they have registered a case of cheating with the concerned IFSO unit and the team is investigating the matter. The preliminary investigation so far, suggests that the victim was duped using the SIM-swap technique. According to banks, in case of SIM-swap frauds, the accused buy duplicate SIM cards from telecom operators on the pretext that they have lost them and then access confidential information from the banks.

The Delhi Police also said that most platforms have weak two-factor authentications and many fraudsters work in connivance with employees working in telecom companies. Once they have duplicate SIM cards that work, they access all the information and use banking passwords to siphon off money.

Here also the victim had not shared his details but his money was siphoned off. The police suspect a Jamtara-based gang is behind the crime and are looking at the transaction details to identify the accused.

Even, in the past few months, Delhi Police made a couple of arrests from Jharkhand of the Jamtara- based fraudsters.