Three lose Rs 1 cr each to cyber fraudsters in 10 days in Bengaluru

Bengaluru: In a span of 10 days in March, three people — including two senior citizens — lost over Rs 1 crore each to cyber fraudsters in southeast Bengaluru.

All three FIRs, seen by DH, were filed at the Southeast CEN police station between March 16 and 26. While two cases involved investment scams, the third pertained to UPI and other online transactions. In all, the victims lost Rs 3.9 crore.

In both investment scam cases, the fraudsters approached the victims via WhatsApp and offered stock market investment tips. The victims were then added to WhatsApp groups.

Case 1 

In the first case, a 41-year-old man lost Rs 1.7 crore after being added to a group called “ACI Stratergy Club”. He was subsequently coerced into downloading an app with the same name using an APK file.

Case 2 

In the second case, an 83-year-old man who lost Rs 1.1 crore was added to a group called “QuantasAIS” and was also made to download an application of the same name.

Initially, group members — posing as fellow investors — shared fake profit screenshots to deceive other members. After a few weeks, some of the fraudsters contacted the victims directly and coaxed them into investing through the app, leveraging the so-called investment tips.

A senior police officer overseeing cybercrime investigations explained that such WhatsApp groups typically include eight to 10 potential victims. Fraudsters in the group act as investors and share fake screenshots of profits to lure other members.

When any member shows interest in investing, the fraudsters escalate the pitch and send them APK files to install their custom-designed app. These apps are often created with simulation controls that mimic genuine trading platforms.

The officer added that investigators usually contact relevant stakeholders to have such dubious APKs taken down, but they often reappear elsewhere online.

Case 3 

In the third case, a 67-year-old woman who had sold her property in 2024 had deposited Rs 1.1 crore in her bank account.

When she checked her balance in March, only about Rs 300 remained. Her bank statement showed that the money had been siphoned off via UPI transactions. She subsequently filed a police complaint.

Investigators believe this case may point at a new modus operandi, though they are also examining whether familiar tactics, such as OTP fraud, were used to siphon off the funds.