B'luru techie loses `2.8cr in cyber scam; experts advise stronger cybersecurity

NT Correspondent

Bengaluru: A Bengaluru-based tech professional recently lost a staggering Rs 2.8 crore after falling victim to a cyber scam, highlighting the increasing sophistication of cybercriminals. The scam, which involved a new method to gain unauthorized access to banking details, has left the victim distraught and helpless. The victim, who wishes to remain anonymous, received a WhatsApp call from someone impersonating a Citibank representative.

The caller falsely claimed that the victim’s credit card approval was pending and advised them to purchase a new SIM card. Just a few days later, the victim received a parcel purportedly from City Union Bank, containing a mobile phone. The fraudsters used this phone to gain access to the victim's bank accounts, forwarding OTPs and SMS alerts to themselves, ultimately draining the victim’s funds. This incident has raised significant concerns among citizens, as it reveals the growing use of pre-configured phones by criminals to target victims. The victim has already filed a complaint at Whitefield Police Station, and authorities have launched an investigation under relevant sections of the IT Act. Prof. Ashish Choudhury, Associate Professor, Coordinator, Integrated Mtech at IIIT Bangalore, emphasised that Bengaluru is increasingly becoming a hotspot for cybercrime.

"Both individuals and businesses face a range of cyber threats in Bangalore, including phishing attacks, ransomware, and mobile device security threats," he said. He further explained how cybercriminals use these methods to exploit individuals and organisations alike. In the case of mobile device security threats, such as the one that affected this victim, attackers often employ tactics like SIM card swapping and insecure Wi-Fi networks to steal personal information. "The use of pre-configured phones to gain unauthorised access is a growing concern. It’s critical for individuals to be cautious and safeguard their financial and personal data,” Prof. Choudhury added.

In light of this incident, both individuals and businesses are urged to take proactive measures to enhance their cybersecurity. For individuals, Prof. Ashish Choudhury recommends using strong and unique passwords, enabling multi-factor authentication, and being cautious with unsolicited emails and messages. "Regular software updates, securing your Wi-Fi network, and using antivirus software can go a long way in protecting against cyber threats," said Choudhury. For businesses, he suggests conducting regular risk assessments, implementing a zero-trust security model, and ensuring strong incident response plans are in place. "It's vital that companies remain vigilant against threats like Business Email Compromise and ransomware, which are becoming more frequent," he noted.

Government agencies and law enforcement are also playing a significant role in addressing cybersecurity challenges. Agencies like the Ministry of Electronics and Information Technology (MeitY) and the National Cyber Security Coordinator (NCSC) are working to create a robust framework for cybersecurity in India. They are also actively involved in investigating cybercrimes and providing cybersecurity awareness programs to educate the public.