In an alarming incident, cybercriminals attempted to scam a stock exchange employee, Nageswara Rao, from Tadigadapa in the Penamalur Mandal of Krishna District. Using advanced phishing techniques, they nearly succeeded in extorting ₹5 lakh through fraudulent activities involving an online credit card loan. However, Rao’s quick thinking and vigilance saved the day, turning a potential financial disaster into a lesson in cyber safety.
The Bait: A Delayed Courier Parcel
The ordeal began when Nageswara Rao was expecting a courier sent by his relatives from Rajahmundry via DTDC. Due to delays, Rao decided to track the parcel through the courier company’s website. Upon discovering that the parcel was marked as delivered in Vijayawada but hadn’t reached his home, he found a contact number on the website and called it.
The person who answered spoke in Hindi, a language Rao wasn’t fluent in. After the call ended abruptly, Rao received another call from a different number. This individual, speaking in Hindi and English, claimed to assist with the courier issue. The caller sent Rao a link through WhatsApp, instructing him to click on it and follow certain steps to resolve the problem.
The Trap: Clicking the Malicious Link
Suspicious but curious, Rao clicked on the link as instructed. The caller then asked him to share an OTP that would allegedly confirm his identity and requested a token transfer of ₹5 through Google Pay, promising it would be refunded immediately. Rao, who was initially skeptical, hesitated but followed the steps as he continued to engage with the caller.
Soon, Rao’s phone began receiving consecutive OTP messages from his HDFC Bank account, confirming his growing suspicion. Moments later, a message arrived, stating that ₹5 lakh had been used on his credit card. Alarmed, Rao checked his credit card limit and found it capped at ₹1 lakh, deepening his doubts about the situation.
The Realization: Cyber Fraud Uncovered
Understanding that he had fallen into a cybercriminal’s trap, Rao quickly sprang into action. He rushed to the bank and informed the staff about the suspicious transactions. Upon investigation, the staff found no immediate evidence of the ₹5 lakh transaction. However, Rao persisted and contacted the credit card call center.
The truth was soon revealed: the cybercriminals had used the OTPs shared by Rao to apply for a ₹5 lakh instant loan against his credit card. This process required three OTP verifications, which the scammers had managed to obtain during their conversation with him.
Averting Disaster: Quick Actions Save the Day
Although the scammers successfully initiated the loan, the amount had been credited to Rao’s bank account, creating an unusual situation. The delay in updating the transaction in the bank’s system initially misled the staff. Realizing the gravity of the situation, Rao immediately requested to block his Internet banking and credit card access.
To prevent further hacking, Rao removed the SIM card from his smartphone and inserted it into a basic keypad phone, ensuring the criminals couldn’t access his device remotely. This swift decision thwarted the scammers’ plans to withdraw the loaned ₹5 lakh.
When the bank contacted Rao to confirm the loan, he informed them that the entire process had occurred without his consent. He requested the amount be debited back to the credit card, effectively neutralizing the fraud attempt.
Lessons Learned: Vigilance Against Cyber Threats
This incident underscores the growing sophistication of cybercriminals and the importance of vigilance in the digital age. Rao’s quick thinking and refusal to panic played a crucial role in averting a financial loss. By acting decisively and securing his accounts, he managed to outsmart the scammers.
Protecting Yourself Against Cyber Fraud
Verify Contact Sources: Always confirm the authenticity of contact numbers or links, especially when dealing with financial or personal information.
Avoid Clicking Unknown Links: Refrain from clicking on unsolicited links, particularly from unknown sources.
Do Not Share OTPs: OTPs are highly sensitive; never share them with anyone, regardless of the circumstances.
Act Quickly: In case of suspicion, immediately block your accounts and report the activity to your bank.
Use Secure Devices: Avoid performing sensitive transactions on devices that may be compromised.
Conclusion
Nageswara Rao’s experience is a reminder of the ever-present risks posed by cybercriminals. His calm and calculated response serves as an example of how to handle such situations effectively. By staying alert and taking preventive measures, individuals can protect themselves from falling victim to similar scams.
