Mumbai: A 69-year-old LIC agent from Karwar allegedly lost ₹1.74 crore after fraudsters posing as Mumbai Police officials accused him of money laundering and threatened him with arrest in a “digital arrest” scam. The victim, identified in the report as Shivanand Hegde, transferred the money over several days before realising he had been defrauded and approaching the cyber crime police.
FCRF Academy Launches Premier Anti-Money Laundering Certification Program
Fake Police Call Used to Create Fear
According to the information visible in the report, the fraudsters contacted Hegde while posing as officials from the Mumbai Police. They accused him of being linked to a money laundering case and allegedly used the threat of arrest to pressure him.
The callers maintained contact through phone calls and video calls, creating the impression of an official inquiry. The tactic appears to have been aimed at keeping the victim under sustained psychological pressure while demanding financial transfers.
Money Transferred to ‘Verify’ Innocence
The fraudsters allegedly forced Hegde to transfer money on the pretext of “verifying” his innocence. Believing the claims made by the callers, he transferred ₹1.74 crore over several days.
The payments were made under fear of arrest, a common element in such frauds where victims are made to believe they are under official scrutiny and must comply immediately to avoid legal action.
Complaint Filed With Cyber Crime Police
After later realising that he had been cheated, Hegde filed a complaint at the cyber crime police station. The report does not provide further details on the status of the investigation or whether any arrests have been made.
