Man receives message on phone, looses Rs 16 lakh in one second; Here's what happened

As financial scams continue to proliferate, vigilance remains the cornerstone of defense against such nefarious schemes.

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New Delhi: In a harrowing tale from Australia, a man recently found himself in the throes of a financial nightmare after receiving a suspicious message on his phone. The message purported to be from his bank, warning him of an attempt to hack his account. Urged to press 'Cancel' to receive a new card, the man took swift action, believing it to be the prudent choice.

Tragic consequences

Despite his cautious response, tragedy struck as a staggering sum of Rs 16 lakhs vanished from his account soon after. Distraught and bewildered, the man's attempts to seek recourse from the bank were met with resistance, with the institution citing a lengthy investigation period of 45 days.

The perpetrators' scheme

According to reports from the Daily Mail, the victim, a resident of Melbourne and an account holder at 'Ubank', fell prey to a sophisticated scam orchestrated by cunning fraudsters. The initial message, seemingly from the bank, lured him into a false sense of security, leading him to believe that his actions were safeguarding his finances.

The scammer's call

Subsequently, the victim received a call from an individual claiming to be a bank employee, further perpetuating the ruse. Engaging the victim in a half-hour conversation, the scammer coerced sensitive information from him, including his card details and recent transaction history. Unbeknownst to the victim, this information served as a catalyst for the fraudulent transactions that ensued.

Devastating losses unveiled

During the duration of the call, a staggering Rs 16 lakhs was siphoned from the victim's account, leaving him in a state of profound shock and disbelief. Witnessing the unauthorized transactions unfold before his eyes, the victim's pleas for intervention fell on deaf ears as the bank disavowed any responsibility.

Stay vigilant, stay safe

Instances of financial fraud are not confined to Australia alone; they pose a global threat to unsuspecting individuals. In light of these risks, the Reserve Bank of India has issued crucial guidelines to mitigate such threats. Emphasizing the importance of vigilance, individuals are urged to refrain from divulging sensitive information over the phone and to promptly report any suspicious activity to their respective banks.

As financial scams continue to proliferate, vigilance remains the cornerstone of defense against such nefarious schemes. By heeding the warnings and adhering to established security protocols, individuals can protect themselves from the devastating consequences of online fraud.