Mumbai Police Successfully Freeze Rs 4.65 Crore from Cyber Fraud Victim's Loss

Police quickly froze Rs 4.65 crore of the Rs 7.5 crore stolen from a Mumbai business owner in a cyber fraud incident. The owner fell victim to a SIM swap scam in Kandivali, where fraudsters accessed the company's bank account and made multiple transactions. The money was transferred to various accounts within minutes, officials reported on Tuesday.

Upon discovering the fraud, the company owner contacted the cyber helpline at 1930 and provided details of the unauthorised transactions via email. Cybercrime branch officials promptly reached out to the bank's nodal officer and filed a complaint on the National Cyber Crime Reporting Portal (NCCRP). This swift action led to freezing Rs 4.65 crore within four hours.

SIM Swap Fraud Explained

In a SIM swap fraud, scammers deceive network providers into linking their SIM card with the victim's phone number. This grants them access to OTPs sent by banks, allowing them to take over accounts. By controlling the victim's mobile identity, they can access personal online accounts linked to that number.

The remaining amount of the stolen funds was mostly withdrawn by the fraudsters before it could be recovered. The police's quick response helped mitigate some of the financial loss for the victim, though a significant portion remains unrecovered.

The cybercrime team acted swiftly by contacting relevant authorities and using available resources to freeze a substantial part of the stolen funds. Their efforts highlight the importance of immediate action in such cases to prevent further financial damage.

This incident underscores the need for vigilance against cyber threats like SIM swap frauds. Individuals and businesses must remain cautious and take preventive measures to safeguard their digital identities and financial assets.