Cybercriminals allegedly siphoned off ₹95.74 lakh from a businessman’s company bank account in Haryana’s Yamuna Nagar after fraudulently taking control of the mobile number linked to the account, prompting cyber police to investigate a possible insider link and organised financial fraud network.
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According to preliminary information, the victim, a businessman based in Jagadhri, had linked a specific mobile number to his company’s bank account for transaction alerts, OTP authentication and banking notifications. Investigators suspect that the number was targeted through a SIM swap operation, allowing the accused to obtain a duplicate SIM card and access sensitive banking communications.
Mobile Network Stopped as Duplicate SIM Was Activated
Officials said the original mobile network on the victim’s phone reportedly stopped functioning once the SIM swap was activated. At the same time, the duplicate SIM allegedly controlled by the fraudsters began receiving banking OTPs, verification codes and transaction alerts linked to the company account.
Using this access, the accused allegedly carried out multiple fund transfers and drained ₹95.74 lakh from the account in several transactions. The fraud initially remained undetected as it took place during a holiday period, when the businessman did not immediately notice the network disruption or missing alerts.
The incident came to light only after the company resumed operations and the account balance was checked. By then, a substantial amount had already been withdrawn.
Insider Link Under Investigation
The businessman has reportedly suspected that someone familiar with the company’s banking procedures, linked mobile number and financial operations may have assisted the cybercriminals. Investigators are now examining whether confidential banking details or internal access information were leaked before the fraud was carried out.
Authorities believe the precision and timing of the operation indicate a planned attack rather than a random cyber intrusion. Cyber police have registered a case and begun a detailed technical investigation into the fraud.
Investigators are analysing transaction records, beneficiary accounts, SIM issuance details and documents allegedly used during the SIM replacement process. Call detail records, IP logs, device mapping data and communication patterns are also being examined to identify those involved.
Money Trail and Mule Accounts Under Scanner
Officials said SIM swap fraud has become a fast-growing financial cybercrime method because it compromises OTP-based banking security. In such cases, fraudsters often collect personal and banking details before manipulating telecom verification systems to gain control of the victim’s mobile number.
Investigators are now tracing whether the stolen funds were routed through mule accounts or layered across multiple banking channels to conceal their movement. Authorities suspect that fake identities and rented bank accounts may have been used to distribute and withdraw the money quickly.
Cybercrime expert and former IPS officer Prof. Triveni Singh said control over a mobile number can expose banking accounts, UPI platforms, email services and digital identity systems linked to it. Police officials said the investigation is ongoing and further action will follow after the digital and financial trails are fully analysed.
