Ahmedabad Man Loses Rs 4.54 Lakh in Sophisticated Loan App Scam
In a distressing incident highlighting the growing threat of digital financial fraud, a 36-year-old man from the Saraspur area of Ahmedabad was allegedly duped of over Rs 4.54 lakh by cybercriminals posing as representatives of a finance company. The Shaherkotda police have registered a First Information Report (FIR) based on the victim's complaint, initiating a thorough investigation into this sophisticated scam.
How the Elaborate Fraud Unfolded
According to the detailed FIR, the complainant, who works at a gems firm in Bapunagar and lives with his wife and two minor children, received an unsolicited call on January 18. The caller, claiming to be from a legitimate finance company, persuaded the man to apply for an online loan, exploiting his immediate financial needs. "As we were in need of money, I agreed, following which the loan amount was credited to my bank account through an agent," the victim stated in his official complaint to the authorities.
The fraudsters then escalated their scheme by offering to reduce the monthly instalment (EMI) amount. Later that same afternoon, another individual, also pretending to represent the same finance company, contacted the victim. This caller instructed him to download an APK file sent via WhatsApp, promising it would facilitate the EMI reduction process.
The Malicious App and Subsequent Financial Drain
Trusting the caller's assurances, the complainant downloaded the application. Immediately, his mobile phone malfunctioned, displaying a message that the "EMI file was being processed." When the process took an unusually long time, suspicion began to arise. The victim's wife briefly removed the SIM card, prompting the fraudster to call back with a warning: the process would need restarting, and the company would not be responsible for any unauthorized deductions.
After reinserting the SIM card, the same processing message reappeared, heightening their concerns. The couple rushed to a nearby ATM to check their bank account balance. "To our shock, the entire amount of Rs 4.54 lakh was withdrawn from my account through online transactions," the victim recounted in the FIR, detailing the moment they discovered the devastating financial loss.
Police Investigation and Cybercrime Alert
The victim promptly contacted the cybercrime helpline before lodging a formal complaint with the Shaherkotda police. Preliminary investigations suggest that the accused hacked the complainant's phone using the malicious application, gaining unauthorized access to siphon off the funds. Police are now working to identify the caller and other individuals involved in this elaborate fraud network.
This incident serves as a stark reminder of the sophisticated tactics employed by cybercriminals targeting vulnerable individuals seeking financial assistance. Authorities urge the public to exercise extreme caution when:
- Receiving unsolicited loan offers via phone or digital platforms
- Downloading applications from unverified sources, especially APK files
- Sharing personal or financial information with unknown callers
The investigation remains ongoing as police leverage digital forensics to track the perpetrators and recover the stolen funds, aiming to bring the culprits to justice and prevent similar scams in the future.
