Mumbai businessman duped of Rs 2.4 lakh by cyberfraudster

MUMBAI: An unidentified cyber fraudster targeted a 61-year-old south Mumbai businessman by luring to convert his bank’s reward points into cash, and later withdrew Rs 2.43 lakh from the victim’s credit card.
The accused had transferred the money to two accounts in app-based money transfer service companies. Within a short span of time, investigators managed to block the money and return it to the complainant.
The complainant, who has an office at Diamond Plaza building in Grant Road, had received a call from an unknown person. The caller introduced himself as a bank executive and told him that they will convert his reward points into cash. “For this, the caller took details of his credit card, CVV number, etc. Shortly, Rs 2.43 lakh were transferred from the businessman's card to another account. The victim then realised that he has been cheated and approached us,” said an officer from DB Marg police station.
“Soon after the FIR, the police approached the bank and found that the money was transferred to a money transfer app, which is generally used to make payments. We sent an email to the app’s office and found out that the money was further transferred to another app-based company which provides a platform to clear bills, etc. We then sent an email to the second company and asked them to block the money. The second company cancelled the transaction,” said the officer. The companies returned Rs 2.41 lakh to the complainant after deducting the transaction fees.