Digital Arrest Scam: Retired Banker Loses Nearly Rs. 23 Crore After Being Coerced by Cybercriminals

A 78-year-old retired banker from South Delhi was coerced into selling his equity shares and transferring nearly Rs. 23 crore to the bank accounts of cybercriminals, who had allegedly held him under virtual confinement for a month. The victim, Naresh Malhotra, was terrorized by the cybercriminals, who impersonated Mumbai Police officials and threatened to kill his family members if he disclosed the matter to anyone. Delhi Police officers have launched an investigation and managed to freeze around Rs. 1.5 crore that was yet to be withdrawn or transferred from the accounts of the cybercriminals.

Key Takeaways:

• The victim, Naresh Malhotra, lost nearly Rs. 23 crore in a digital arrest fraud after being coerced by cybercriminals who held him under virtual confinement for a month.
• The cybercriminals impersonated Mumbai Police officials and terrorized Malhotra by alleging that his Aadhaar details were linked to bank accounts used in terror funding and the Pulwama terror attack.
• Malhotra was threatened with dire consequences if he disclosed the matter to anyone, including the killing of his two daughters, their husbands, and children.
• Delhi Police officers have registered a case and are probing the digital arrest fraud.
• The IFSO unit has managed to freeze around Rs. 1.5 crore that was yet to be withdrawn or transferred from the accounts of the cybercriminals.
• Malhotra had undergone knee surgery on July 5 and was discharged the same day, and the cybercriminals took advantage of his vulnerable state to perpetrate the fraud.
• The scamsters sent Malhotra a forged court order claiming his assets, including his passport, were seized.
• Malhotra was told to liquidate his equity holdings and transfer Rs. 22.92 crore to their accounts, assuring him that the Reserve Bank of India would return the money after verification.
• Joint commissioner of police (IFSO) Rajneesh Gupta urged citizens to download the 'Sanchar Saathi App' to block the numbers used by cybercriminals for digital arrest and malicious links and messages.

Statistics:

• Rs. 23 crore lost by Naresh Malhotra in the digital arrest scam
• Rs. 1.5 crore frozen by Delhi Police officers from the accounts of cybercriminals
• 1 month of virtual confinement imposed on Malhotra by the cybercriminals
• 4 family members (2 daughters, 2 sons-in-law) whose lives were threatened by the cybercriminals
• Rs. 22.92 crore transferred by Malhotra to the accounts of the cybercriminals
• 2 mobile numbers used by the accused to perpetrate the fraud
• 1 case registered by Delhi Police officers
• 1 FIR registered by the IFSO unit of Delhi Police

Sources:

• Hindustan Times (September 21, 2022)
• HT Digital Content Services with permission from Hindustan Times