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A 45-year-old cashier from Mumbai’s Santacruz West lost a staggering Rs 10.38 lakh after falling prey to a fraudulent scheme that promised a hefty reward in exchange for a Re 1 note. The man, employed at a state-run insurance company in Churchgate, came across an advertisement while watching social media reels on February 23, which claimed to offer Rs 4.53 lakh for a Re 1 note. Intrigued by the offer, he contacted the scammers through a WhatsApp number provided in the ad.
How the Scam Unfolded
The complainant soon received a message from a person named Pankaj Singh, who introduced himself as an employee of a coin shop. Singh directed the cashier to fill out a registration form and made an initial demand of Rs 6,160 as registration fees. After this, Singh called again, claiming that the earlier amount was insufficient, and demanded an additional Rs 6,107, assuring that the previous payment would be refunded.
The scam continued when Singh introduced the victim to another individual, Arun Sharma, who presented a letter allegedly from the Reserve Bank of India (RBI), confirming the reward for the Re 1 note. At this point, the victim had already transferred Rs 10.38 lakh under various pretexts, believing he was on the verge of receiving the promised reward.
The Turning Point
The fraudsters, not content with the amount already collected, promised to raise the reward to Rs 25.56 lakh if the cashier transferred an additional Rs 6 lakh. This was the point when the victim realized he had been scammed. He immediately approached the West Region Cyber Police Station, leading to the registration of a case under the IT Act and Bharatiya Nyaya Sanhita. The police are now investigating the case further.
How to Stay Safe from Scams
This incident highlights the growing problem of online frauds that target unsuspecting victims. To avoid falling for similar scams, it’s important to be cautious about offers that seem too good to be true, especially those circulating on social media. Always verify the authenticity of the source and refrain from sharing sensitive information or transferring money without proper confirmation.
Authorities continue to warn the public to stay alert to such scams, especially those that promise huge returns for minimal investment. The police are urging people to report any suspicious activity to prevent further exploitation.
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