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India

Cyber Money Heist: Man Hacks Into Company’s Bank, Robs Rs 18.74 lakh

A man in Navi Mumbai allegedly hacks into a company's bank account and robs Rs 18.74 lakh.

Navi Mumbai police recently uncovered a case of cyber theft involving a man who allegedly hacked into a company’s bank account and robbed Rs 18.74 lakh. The incident, as reported by news agency PTI, revealed that the man utilized SIM card fraud as a means to breach the account.

The FIR report detailed how hackers managed to gain unauthorized entry into the company’s bank accounts via the corporate log-in of a telecommunications services firm. Prompted by the company’s complaint filed in September, Cyber Police initiated a thorough investigation into the matter.

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During the course of their inquiry, officials discovered that the recipient of the transferred Rs 18.74 lakh had received account details, including the ATM pin, chequebook, and mobile phone number from an individual in West Bengal. The alleged individual, identified as Noor Islam Sanfui in the 23 Parganas district, was subsequently apprehended.

The police disclosed that in this particular instance, the man—using a genuine mobile phone number—received an SMS notifying him of the deactivation of his SIM card, which went unnoticed. Remarkably, the same SIM card was found active in the possession of the accused person.

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The method employed by the perpetrator, known as SIM card fraud or SIM swapping, involves a fraudulent takeover scheme enabling criminals to seize control of your phone number and potentially infiltrate your online accounts. Initially, fraudsters collect personal data about their target and then impersonate the victim when contacting the mobile carrier. They claim the victim’s phone has been lost or stolen and request a new SIM card bearing the same number.

Upon receiving the new SIM card, the fraudsters can intercept all incoming calls and messages, including crucial two-factor authentication codes. Armed with this information, they gain access to the victim’s online accounts, including banking portals, social media profiles, and emails.

Once inside these accounts, the fraudsters can siphon off funds, conduct unauthorized transactions, or funnel money into their own accounts. Additionally, they might exploit the victim’s accounts to perpetrate further crimes, like identity theft or fraudulent activities.

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HISTORY

Written By

Malika Sahni


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