Money-Swiping Scam: Bengaluru Techie Shares New Fraud Cyber Criminals Are Using to Steal Your Money

Bengaluru: There has been a significant increase in internet fraud instances in recent years. The financial sector's fast digitization has led to a surge in cybercrime, despite effective security measures implemented by most corporations and institutions. 

Cyber crooks have invented new methods to defraud individuals. Aditi, a Bengaluru based techie, highlighted one such novel approach that crooks use to take away money.

Aditi shared the story in a long post on X, formerly Twitter, and detailed how she narrowly evaded being a victim of this new financial fraud that uses cleverly prepared SMS messages to generate uncertainty and eventually steal money. 

Aditi stated that she was on an office call when she received a phone call from someone claiming to need to transfer money to her father. He said that he was having problems with his own bank account and asked Aditi for help in obtaining the money. 

Shortly after the call, she received an SMS warning that resembled standard bank notifications. The message stated that the money had been transferred to her account.

The caller then told Aditi that he had intended to send Rs 3,000 but had accidentally deposited Rs 30,000 instead. He then asked Aditi to repay the excess amount. However, after reviewing the SMS alerts she had received, Aditi spotted anomalies and realised she was about to fall victim to a financial fraud.