Trader loses Rs26 lakh in cyber fraud

A city trader lost Rs26 lakh after computer hackers tapped into his online bank account and transferred the money to different accounts.

The incident took place on June 14, 2013 when Hitesh Gidwani, an industrial product trader, got four emails mentioning successful online transfer of Rs 26 lakh from his Kotak Mahindra Bank account.

Realising that he had fallen prey to cyber crime, Gidwani lodged a police complaint.

The investigators were surprised to know that the trader had not received One Time Password (OTP) — a must for every online transaction — on his registered phone number. Further investigations revealed that before the online transaction, the miscreants had submitted an application to his mobile service provider requesting for a new SIM card. Hence, the OTP was sent to the new SIM card, which made the transaction possible.

When Gidwani approached the mobile service provider, he was told that an application to stop services to the old SIM card with his signature was received on June 13, 2013. With the new SIM card in possession, the miscreants executed the crime between 6 am and 8am on June 14.

Investigating officer SL Chaudhary hinted at the possibility of a Nigerian gang involved in the fraud. He also said that there was strong possibility of some locals helping the gang pull off this online robbery.

The money from Gidwani’s account has been transferred to seven different bank accounts. The cops are yet to ascertain whether the money from these accounts has been withdrawn or not.

“We have already sent teams to places where the money has been transferred,” said Chaudhary. However, the cops are yet to get any success in the case.