Telangana Cops Arrest 10 Fraudsters For Duping Credit Cardholders, Stealing Confidential Bank Data

Telangana’s Cyberabad Cyber Crime Wing has arrested a group of 10 cyber criminals for allegedly stealing confidential bank data and duping credit card users.

Operating from Delhi, the accused stole confidential credit card data from banks and used it to contact cardholders, impersonating as bank’s customer care executives, to dupe them, senior officials of Cyberabad Cyber Crime Wing said in a Twitter post.

“The Cyberabad Cyber Crime Wing has busted a gang of 10 fraudsters who were involved in stealing confidential bank data & cheating credit card holders. This gang was operating from Delhi & collecting confidential credit card customer data from banks & using this data to contact cardholders, pretending to be customer care executives of the bank, and deceiving them,” the tweet reads.

It is pertinent to note here that cases related to cyber fraud are on a rise, and amid this, a lot of Indian startups, too, have been losing their key customer data. 

Earlier this month (on March 3), Bengaluru-based fintech unicorn OneCard reported a cyber fraud to the Delhi Police. In its plaint, the fintech startup mentioned that five fraudsters duped it after procuring products worth INR 21.32 Lakh via credit cards. The accused used PAN details and names of Bollywood actors and celebrities to get One Card’s credit cards, Inc42 reported. 

Last month, MoS Rajeev Chandrasekhar told the Parliament that India witnessed 13.91 Lakh cases related to cyber security in 2022. The country witnessed 14.02 Lakh and 11.58 Lakh cases related to cyber fraud in 2021 and 2020, respectively.  

In November last year, Chinese hackers invaded five physical servers of All India Institute of Medical Services (AIIMS) Delhi and retrieved critical information. Later, the hackers demanded INR 200 Cr in cryptocurrencies as ransom. 

In May last year, fintech unicorn Razorpay filed a complaint with the Bengaluru police that it lost INR 7.3 Cr in a case related to cyber theft.

According to India’s cybersecurity agency Indian Computer Emergency Response (CERT-In), all companies must report cybercrimes within six hours of noticing such activities and keep a security log for 180 days within India.

To curb online payment fraud, the Payments Council of India (PCI) rolled out ‘Project Pratima’, an initiative to standardise payment icons across online apps and platforms, in 2022.

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