Fake IPS Officers Siphon Over ₹100 Cr In Mumbai, Investigation Reveals Possible China Link

The Mumbai city police are currently dealing with a significant increase in cyber fraud cases, where con artists impersonating senior Indian Police Service (IPS) officers have reportedly swindled over ₹100 crore from victims’ bank accounts.

What Happened: The Times of India reports that the police have received a minimum of 50 complaints recently. In these cases, the fraudsters, masquerading as senior IPS officers, have tricked victims into believing they were being investigated for various crimes. The victims span a wide range of professions, including doctors, bankers, professors, and businessmen.

See Also: Top 10 Green Energy Stocks In India

The modus operandi of the scammers involved persuading the victims to download specific apps under the guise of recording statements online, subsequently draining their bank accounts. In one such case, a businessman from Santacruz lost ₹20 lakh after being informed that his Aadhaar card was under investigation for money laundering.

These fraudsters reportedly use the names of well-known IPS officers to instil fear in their victims. Investigations have revealed that the brains behind these scams are based in foreign countries like Cambodia, Dubai, Thailand, or China, and they hire individuals in India to open accounts using counterfeit documents.

Read Next: Swiggy Takes Away Delivery Partners’ Health Insurance For Missing Targets: Report

Engineered by Benzinga Neuro, Edited by Utkarsh Roshan

The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. Learn more.

Don't miss a beat on the share market. Get real-time updates on top stock movers and trading ideas on Benzinga India Telegram channel.

Posted In: Scams