A 41-year-old businessman from Hyderabad lost close to ₹38 lakh to cyber fraudsters posing as second-hand vehicle sellers. The scammers, operating through multiple individuals, approached him using different WhatsApp numbers and convinced him of their legitimacy by presenting fraudulent documents.
“The fraudsters claimed to be involved in the online sale of second-hand vehicles, including models such as Innova, Cresta, JCB and Eicher. They assured the victim that they could provide vehicles in good condition at lower prices and sent him images of vehicles via WhatsApp, to gain his trust,” an official from the Cyberrcrime unit of Hyderabad Police said.
They presented fake letters in the name of Cholamandalam Investment and Finance Company, making it appear as though they were genuine sellers with proper financial backing. Believing their assurances, the businessman decided to enter into business dealings with them.
Once the stage was all set, they requested payments through RTGS, online transfers, and cash, claiming the funds were needed for purchasing the vehicles and covering transportation charges. Convinced of their credibility, the victim made several payments, ultimately transferring a total of ₹37.95 lakh. These payments were made from his personal savings, as well as money borrowed from regular customers and dealers. The funds were deposited into multiple bank accounts provided by the fraudsters.
Realising the fraud, he lodged a complaint with the Cybercrime police, which launched a detailed probe in the matter. The police warned citizens against making payments based solely on WhatsApp communications and digital images. Individuals are advised to verify seller credentials through official sources, cross-check finance-related documents directly with the issuing companies, and use secure and traceable payment methods.
Published – February 07, 2025 06:17 pm IST