Jabalpur: A 66-year-old retired Indian Railways employee has allegedly been cheated out of ₹74.4 lakh in a sophisticated cyber fraud in which scammers posed as government pension officials and convinced him to transfer his retirement savings under the pretext of a pension verification process.

The Madhya Pradesh Cyber Police have launched an investigation to trace the money trail and identify the fraudsters, who allegedly routed the stolen funds through multiple bank accounts across different states.

Fraudsters Posed as Pension Officials

According to investigators, the victim received a phone call from individuals claiming to represent a government pension department. The callers falsely informed him that discrepancies had been found in his pension records and Aadhaar details, warning that his pension payments could be suspended if the issue was not resolved immediately.

To increase pressure, the fraudsters allegedly claimed that the retiree’s bank accounts were linked to a money laundering investigation involving an international criminal network. They assured him that transferring his money into a so-called “government verification account” was necessary to safeguard his savings and complete the verification process.

Investigators say the victim was instructed to remain on the phone throughout the process and was repeatedly told not to contact family members or bank officials until the verification was complete.

Retirement Savings Transferred in Multiple Transactions

Believing the callers were genuine government officials, the retired employee liquidated his fixed deposits and transferred a total of ₹74.40 lakh through multiple online transactions to bank accounts provided by the fraudsters.

The scam came to light only after the victim later visited his bank to inquire about the verification process and learned that the money had been transferred to fraudulent accounts with no connection to any government agency.

Cyber Police Tracking Multi-State Money Trail

Following the complaint, the Madhya Pradesh Cyber Cell registered a case under relevant provisions related to cheating, forgery, criminal intimidation, and cyber fraud.

Preliminary investigation indicates that the stolen funds were immediately distributed across several mule bank accounts in different states, a common tactic used by cybercriminals to complicate financial tracking.

Cyber investigators are now examining banking records, digital transaction trails, mobile phone data, and internet protocol (IP) logs to identify those involved and recover any remaining funds before they are withdrawn.

Authorities Warn Senior Citizens Against Verification Scams

The incident has prompted authorities to issue a fresh advisory warning pensioners and senior citizens about scams involving fake verification calls.

Officials emphasized that government departments, banks, pension authorities, and law enforcement agencies never ask individuals to transfer money into personal or temporary accounts for verification, investigation, or security purposes.

Citizens are advised to disconnect any suspicious calls demanding urgent financial transactions, independently verify claims through official government offices or bank branches, and avoid sharing banking credentials, OTPs, or personal information with unknown callers.

Victims of cyber fraud are urged to immediately report incidents through the National Cyber Crime Helpline (1930) or the official cybercrime reporting portal to improve the chances of freezing fraudulent transactions.

Cyber Police Investigate Sophisticated Investment Fraud Operated Through Fake Trading Apps and Messaging Groups

Hyderabad Cyber Crime Police have registered a case after a 31-year-old software engineer allegedly lost ₹37 lakh in a carefully designed online investment scam involving fake stock advisory groups posing as SEBI-registered professionals.

Officials said the fraud was executed through a structured digital ecosystem that used impersonation, manipulated trading dashboards, and psychological pressure tactics to extract large sums from the victim over several weeks.

Fake SEBI Identity Used to Build Investor Trust

According to investigators, the victim was added to a closed WhatsApp group that claimed to offer premium stock market insights under the name “A15 SEBI Premium Market Analyst Insights.”

To appear legitimate, the operators allegedly shared forged certificates, fabricated registration details, and staged performance reports showing consistent trading profits. Fake testimonials from other group members were also circulated to strengthen credibility.

The scammers gradually convinced the victim that the advisory group was officially connected to regulated financial authorities, encouraging him to participate in high-value investments.

Fraudulent Trading App Created Illusion of Profits

Authorities revealed that the victim was instructed to install a third-party application through an external link. The app reportedly simulated a live trading environment, displaying artificial profits and portfolio growth.

Encouraged by the apparent returns, the software engineer transferred multiple payments to different bank accounts controlled by the fraud network. The total amount invested eventually reached ₹37 lakh.

Police believe the platform was designed purely to manipulate user perception, creating a false sense of financial success to drive further deposits.

Pressure Tactics and Fake Regulatory Threats

The scam escalated when the victim attempted to withdraw his funds. At that stage, the operators allegedly changed their communication style, claiming that his account had violated regulatory trading rules.

They reportedly demanded an additional “compliance penalty” of 25% of the total balance to release the funds. When the victim questioned the charges, communication was abruptly cut off and access to the platform was blocked.

Investigators say this is a common pattern in digital investment fraud, where victims are pushed from promised profits into fear-based payment demands before being cut off entirely.

Cyber Police Investigation Underway

Hyderabad Cyber Crime officials have registered the case under relevant sections of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act. Forensic teams are tracing digital footprints, including IP addresses, server routes, and linked bank accounts used to divert the funds.

Authorities are also identifying suspected “mule accounts” used to quickly transfer and launder the stolen money across multiple layers of transactions.

Public Advisory on Online Investment Scams

Cybersecurity officials have once again warned investors against joining unverified stock market groups on messaging platforms. They emphasized that legitimate regulatory bodies and licensed brokers do not operate investment schemes through informal chat groups or third-party download links.

Citizens are advised to verify any investment opportunity through official channels and immediately report suspicious financial activity to the national cybercrime helpline 1930 to increase the chances of fund recovery.

Authorities in Baguiati have launched a detailed investigation into a cyber fraud case in which a local resident was allegedly tricked into surrendering control of his bank account and unknowingly used as a “money mule” in a wider laundering operation involving ₹34.5 lakh.

Police say the victim believed he was applying for a legitimate business loan but was instead drawn into a coordinated scam network that exploited his personal and banking credentials to process illicit transactions.

Fake Loan Offer Used as Entry Point

According to investigators, the fraud began when the complainant approached an online consultancy claiming to offer quick approvals for business loans. The firm allegedly promised a ₹30 lakh loan with minimal documentation and fast processing.

As part of the onboarding process, the victim was asked to submit sensitive documents including identity proofs such as PAN and Aadhaar details, along with signed financial instruments and an upfront deposit.

Officials say the scamsters gradually built trust before escalating the process into a more intrusive verification stage.

Home Visit Leads to Complete Banking Takeover

The case took a critical turn when representatives of the fake consultancy reportedly conducted a “physical verification” at the victim’s residence.

During this visit, the suspects allegedly manipulated the situation to gain access to the victim’s internet banking credentials and linked email accounts. This enabled them to gain full control over his digital financial profile.

Investigators believe this step allowed the network to convert the victim’s account into an active channel for routing stolen funds.

Suspicious Transactions Flagged by Banks

Shortly after the compromise, two large credit transactions—amounting to ₹11 lakh and ₹23.5 lakh—were deposited into the victim’s account from unidentified sources.

When the account holder attempted to withdraw or access the funds, banking systems flagged the activity as suspicious and immediately froze the account.

Officials later confirmed that the incoming money was linked to ongoing cyber fraud cases, indicating that the victim’s account had been used as part of a broader money laundering chain spanning multiple states.

Cybercrime Network Suspected of Multi-State Operation

Preliminary findings suggest the fraud is part of an organized interstate cybercrime network that uses compromised bank accounts to layer and transfer illicit funds, making them harder to trace.

Police are now tracing IP logs, communication records, and transaction trails to identify the individuals behind the consultancy firm and their financial handlers.

Authorities are also working to map other possible victims whose accounts may have been similarly exploited.

Public Advisory on Loan Fraud and Account Misuse

Cybercrime officials have issued a strong warning against dealing with unverified private loan agencies, especially those requesting sensitive banking access or remote verification of financial accounts.

They reiterated that legitimate banks and regulated financial institutions never ask customers to share passwords, grant full account access, or hand over control of email or net banking credentials.

Citizens are urged to report suspicious financial activity immediately via India’s cybercrime helpline 1930 or the national reporting portal to help prevent further misuse of banking systems.