Police have arrested three men for allegedly running a cyber fraud operation in which victims were lured through fake loan advertisements and later persuaded to route sanctioned loan amounts through QR codes to online gaming websites.
Police recovered 12 mobile phones, a laptop, five bank passbooks, seven cheque books and 13 ATM cards from the suspects.
Three Arrested From Sector 70A Flat
Acting on a tip-off, a police team raided a flat at Pyramid Urban Homes in Sector 70A on Wednesday and arrested the three suspects.
They were identified as Shibang Prasad, a resident of Buramal in Jharsuguda, Odisha; Neeraj Kumar Sah, a resident of Koilwar in Bhojpur, Bihar; and Prashant Kumar Singh, a resident of Uttar Patti in Kobil, Nalanda, Bihar.
The three were reportedly staying at the same residential complex. A case has been registered at the South cybercrime police station.
Proposal for Conducting Cyber Crisis Drill, Tabletop Exercise (TTEx) & CCMP Readiness Exercise
How Did the Fake Loan Scheme Allegedly Work?
During interrogation, the accused allegedly revealed that they posted attractive loan advertisements on Facebook and Instagram.
People responding to the advertisements were allegedly asked to provide personal and financial details along with documents required for processing loans.
The accused then allegedly arranged loans ranging between ₹20,000 and ₹30,000 through the Ram Fincorp Finance app.
Bigger Loan Promise Used as the Next Lure
According to police, the initial loan was only the first stage of the alleged fraud.
Once victims received the smaller loan amount, the accused allegedly told them that a much larger loan could also be arranged.
They were then persuaded to transfer the sanctioned amount through QR codes to online gaming websites.
Gaming Websites Allegedly Used to Route Money
Police allege that the money sent to gaming websites was subsequently transferred from gaming accounts to bank accounts controlled by the accused.
Investigators suspect that the gaming platforms were being used as an intermediate channel to move funds obtained from victims.
The financial trail through these gaming accounts is now being examined.
How Did Victims Realise They Had Been Cheated?
According to police, the accused initially told victims that the smaller loan amount did not need to be repaid.
This allegedly helped convince them that the arrangement was genuine.
The fraud came to light when victims later received repayment demands from the finance company for loans issued in their names.
By then, the money had allegedly already been routed through gaming accounts and transferred to accounts controlled by the accused.
12 Mobiles, 13 ATM Cards and Banking Documents Seized
Police recovered 12 mobile phones, one laptop, five bank passbooks, seven cheque books and 13 ATM cards during the raid.
Investigators are examining the devices, bank accounts and documents to identify additional accounts allegedly used to receive and transfer money.
Digital evidence is also being analysed to identify other people who may be connected with the suspected network.
Social Media Ads and Wider Network Under Probe
Police are examining the Facebook and Instagram accounts allegedly used to circulate the fake loan advertisements.
Investigators are trying to determine how many advertisements were posted, how many people responded and whether multiple accounts or identities were used to contact prospective victims.
The flow of money through the alleged gaming accounts is also under scrutiny to identify the ultimate recipients of the funds.
Further questioning of the three accused is underway. Police are also trying to establish the total number of victims and the overall amount involved in the suspected fraud.
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