Bengaluru, February 9: A 75-year-old woman from the city was defrauded of INR 2 crore by cybercriminals promising high returns on stock market investments. The scam unfolded between December 9, 2024, and January 31, 2025, when the victim, a resident of Cooke Town, was lured into online trading by individuals posing as representatives of ‘Hem Securities.’

According to the Times of India report, the culprits, identified as Girivasan Iyengar and Aisha Sithika, convinced the woman to invest in the scheme, assuring guaranteed returns. Over several interactions, they persuaded her to transfer INR 2 crore across various bank accounts. However, when she sought to withdraw her investment on January 31, they demanded a 15% commission and additional transaction fees, claiming the funds would be released in two days. Traffic Challan Scam in Bengaluru: Man Loses INR 70,000 After Clicking on Malicious APK File, Here’s How the Fraud Unfolded.

Investment Scam in Bengaluru

Trusting their promises, the victim transferred the required commission, only to find herself unable to reach the fraudsters afterwards. Realising she had been scammed, she reported the incident to the cybercrime helpline (1930) on February 3, submitting her payment receipts. In her panic, she inadvertently included the bank details of two unrelated individuals, leading to the freezing of their accounts.

Police swiftly acted on her complaint, instructing banks to unfreeze the accounts of the innocent parties. A case has been registered under the Information Technology Act, and relevant sections of the Bharatiya Nyaya Sanhita, and investigations are ongoing. Fake Accident Caught On Dashcam in Bengaluru: Man Deliberately Falls in Front of Moving Car in Whitefield As 2 Men on Bike Act As Witnesses, Video of Fraud Act Goes Viral.

The Bengaluru Police have issued a warning to residents about the rising tide of online scams, urging vigilance to prevent further financial losses. This incident highlights the growing trend of cybercrime, with victims losing crores of rupees to scammers exploiting trust and greed.

(The above story first appeared on LatestLY on Feb 09, 2025 04:26 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).