Bengaluru techie couple recovers Rs 1.4 crore from online trading scam with police help.
A tech-savvy couple from Bengaluru managed to recover Rs 1.4 crore of the Rs 1.53 crore lost in an online trading scam, thanks to the swift actions of the local Cybercrime Police. The scammers, operating from the UK, had used a network of mule accounts to launder the stolen money.
A tech industry couple from Bengaluru managed to recover a significant portion of their money lost in an online trading scam, thanks to the swift response of the local police. According to a report by The Hindu,?the East Division Cybercrime Police in Bengaluru successfully retrieved Rs 1.4 crore out of the Rs 1.53 crore defrauded from the couple in an online investment scheme.
The scam: How it happened
The couple, who live in Banaswadi, were targeted by fraudsters who promised them high returns on their investment. These scammers, operating from the UK, used a network of "mule accounts" rented from people in North India to launder the stolen money. To appear legitimate, the scammers provided the couple with access to a fake website, where they could seemingly monitor the growth of their investment.
Initially, the couple was thrilled with the apparent growth of their funds. But when they tried to withdraw some of the money after a few months, they found that the website was suddenly inaccessible. They were then blocked from the platform altogether, realising too late that they had been scammed.
How the police recovered the funds
After discovering the fraud, the couple filed a complaint with the police. The Cybercrime Police, through careful investigation and coordination with bank officials, were able to trace the money trail and freeze over 50 accounts connected to the scam. This prompt action allowed them to recover Rs 1.4 crore of the stolen funds.
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A police officer explained, "For every cybercrime case, the investigating team follows three rules: trailing the money transaction and blocking the accounts, getting information from the complainant on time, and registering the complaint within the golden hour. Additionally, coordination with bank officials and maintaining a rapport is crucial to get the work done quickly."
Warning to the public
The police have urged the public to be cautious when dealing with online investment offers and to report any suspicious activity immediately.
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