Bengaluru Parent Loses Rs 2 Lakh in Overseas Fee Payment Scam
A parent in Bengaluru fell victim to an online fraud scheme, losing Rs 2 lakh while attempting to pay her daughter's university fees abroad. The incident highlights a growing trend of scams targeting Indian students and their families.
Details of the Fraudulent Transaction
Navya, a 40-year-old resident of Lingarajapuram in east Bengaluru, was trying to pay the second-semester fees for her daughter, a first-year student at a university in Russia. Following her daughter's suggestion, she searched online for intermediaries to facilitate the payment. She encountered individuals claiming to be forex brokers who promised a smooth and hassle-free service to convert Indian currency into Russian roubles and transfer the fees directly to the university.
The fraudsters made the offer particularly enticing by promising an additional benefit of Rs 15,000 if Navya transferred Rs 2 lakh to their account. They claimed that several students had successfully used this method, which persuaded Navya's daughter to urge her mother to proceed.
Trusting their assurances, Navya executed two NEFT transactions of Rs 1 lakh each on February 16, transferring the total amount to an account named 'Krushi Kalyan Agro Tech' in Maharashtra, as instructed by the scammers. They promised that the entire process would be completed within a month.
Discovery of the Scam and Police Action
Weeks passed without any confirmation of the fee payment. Despite repeated attempts to contact the intermediaries, there was no response. Realizing she had been cheated, Navya approached the Banaswadi police station and filed a formal complaint.
A senior police officer confirmed that a case has been registered under the Information Technology Act, and an investigation is currently underway to track down the perpetrators.
Rising Trend of Such Scams
Cybercrime officials have issued warnings about the surge in scams targeting Indian students studying abroad and their parents who are trying to pay college fees. Fraudsters, posing as forex brokers, are increasingly active on social media platforms.
They use Instagram reels and WhatsApp links to advertise their services, luring victims with highly attractive exchange rates and professional communication tactics that often appear more convincing than those of genuine agents.
Safety Recommendations for Parents
Officials strongly advise the public to trust only authorized forex agents for currency conversion. They recommend visiting offices in person and conducting transactions directly to avoid falling prey to such frauds.
Parents can also opt for safer alternatives, such as:
- Exchanging currency through verified brokers
- Transferring roubles directly to students
- Using CloudPayments backed by Russian banks
How to Identify Scammers
To help prevent similar incidents, here are key indicators of fraudulent operators:
- They typically offer significantly lower exchange rates than market standards
- They exhibit highly convincing and overly professional communication styles
- They exert pressure to make immediate transfers, often citing urgent deadlines
- They use mule accounts to receive payments, which are difficult to trace
- They frequently provide delays and excuses when questioned about the completion of the process
If you encounter suspicious advertisements or become a victim of such scams, report the incident immediately by calling the cyber helpline at 1930 or contacting your nearest police station.
