Lawyer, bank employee fall victim to cyber frauds, lose over Rs 78 Lakh

HYDERABAD: Two individuals - a bank employee and a lawyer - have fallen victim to cyber fraudsters, losing a combined Rs 78 lakh in separate incidents. Both cases highlight the increasing threat of cybercrime targeting unsuspecting individuals with well-crafted scams.

In the first case, T. Venkateswara Rao, an employee of the State Bank of India from Poranki in Krishna district, was convinced by cybercriminals to invest in online share trading, promising high returns. Trusting the fraudsters, he opened a trading account and transferred Rs 49 lakh to various accounts as instructed. Initially, he saw a balance of Rs 2.82 crore in his trading account, but when he attempted to withdraw the funds, he realised he had been duped. Venkateshwara Rao immediately filed a complaint with the police.

In the second case, Bhavani Prasad, a lawyer residing in Gandhi Nagar, Anakapalli, was targeted by cybercriminals on October 3. The fraudsters, pretending to be officials from the Enforcement Directorate (ED), falsely claimed that a money laundering case and an arrest warrant had been issued against him. They further intimidated him by claiming that a Supreme Court order related to a massage case involving a minor was also pending against him, threatening immediate arrest unless he paid a bribe to avoid it.

Frightened, Prasad transferred Rs 29 lakh to the scammers. When they demanded an additional Rs 10 lakh, Prasad turned to a friend for help. Suspicious of the sudden request for money, the friend investigated and discovered that Prasad had been scammed. The lawyer then contacted the police, who advised him to block his accounts to prevent further loss.

Both incidents are under investigation by the cybercrime units, and efforts are underway to track down the fraudsters.