Elderly Men in Visakhapatnam Lose Crores to Sophisticated Cyber Frauds
Two senior citizens from Visakhapatnam have fallen victim to separate cyber fraud schemes, losing substantial amounts of money. The cases highlight how criminals are specifically targeting elderly individuals with sophisticated tactics.
Retired Professor Duped of ₹30 Lakh by Fake Police Officers
An 80-year-old retired professor was cheated out of more than ₹30 lakh after receiving threatening phone calls from individuals posing as police officers. The fraudsters claimed to be calling from Bengaluru and informed the elderly man that a bank account had been opened in his name in Mumbai.
They told him that a person named SA Khan, who was accused of human trafficking, had deposited ₹3 crore into this account. The callers stated that a court had issued a non-bailable warrant against Khan and that the professor's involvement was being investigated.
Believing the calls were genuine, the retired professor shared his bank details when asked. Later, another person pretending to be from the finance ministry contacted him. This individual instructed the professor to transfer ₹30 lakh as Tax Deducted at Source on the alleged ₹3 crore deposit.
The fraudster specifically warned him not to discuss the transaction with anyone. The elderly man withdrew his life savings from the bank and transferred the amount as instructed.
Only after reading about similar scams did the victim realize he had been deceived. He has since approached the cybercrime police in Visakhapatnam and filed a formal complaint.
Senior Citizen Loses ₹1.6 Crore in Investment Scam
In a separate incident, a 70-year-old man from Visakhapatnam lost over ₹1.6 crore to an investment fraud. The man had been searching for stock market tips online when he came across an advertisement promising high returns through online trading.
He was added to a WhatsApp group related to online trading and attended a webinar on the subject. Convinced by the group members, he agreed to invest in the stock market through their recommended platform.
The man downloaded an application provided by the fraudsters and initially invested ₹40 lakh. The fake app showed impressive profits on his investment, creating a false sense of success.
When he attempted to withdraw his profits, the scammers demanded additional payments for various charges. Despite paying multiple times, he was asked for more money each time he tried to access his funds.
In total, he transferred over ₹1.6 crore to the fraudsters' accounts before realizing he had been cheated. He has also filed a complaint with the cybercrime police.
Police Warn About Targeting of Senior Citizens
Cybercrime officials noted that fraudsters are specifically targeting elderly individuals through two primary methods:
- Creating fear and urgency by falsely accusing them of involvement in criminal cases
- Promising unrealistic returns on investments to lure them into scams
The police emphasized that these criminals exploit the trust and sometimes limited digital literacy of senior citizens. They use sophisticated impersonation techniques and create convincing fake applications to deceive their victims.
Authorities are investigating both cases and have urged citizens, particularly older adults, to verify any unusual financial requests through official channels before transferring money.
