A Sikar resident lost ₹4.08 lakh after cyber fraudsters allegedly lured him through a social media advertisement promising high prices for old ₹1, ₹2 and ₹5 notes. The victim transferred money on different pretexts but received nothing in return.
How Did the Old Note Offer Reach the Victim?
Sikar resident Girish told the Cyber Police Station that he had come across an advertisement on social media around one to one-and-a-half months earlier.
The advertisement claimed that people could receive high prices for old ₹1, ₹2 and ₹5 notes. Interested in the offer, Girish clicked on the advertisement and was subsequently drawn into the alleged fraud.
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What Did the Fraudsters Promise?
The cyber fraudsters later called Girish and told him that they would pay a high price in exchange for his old ₹1, ₹2 and ₹5 notes.
The promise of receiving a large amount for the old currency notes was used to keep him engaged. However, instead of paying Girish for the notes, the callers allegedly began asking him to make payments.
How Was ₹4.08 Lakh Taken From Him?
The fraudsters allegedly demanded money under different pretexts, including processing fees and other charges.
Girish made PhonePe payments to different numbers as instructed by the callers. The total amount transferred was ₹4,08,746.
Despite making the payments, he did not receive any money in exchange for the old notes.
What Happened After Girish Realised the Fraud?
After discovering that he had been cheated, Girish approached the Cyber Police Station and lodged a complaint.
The mobile phones used by the accused have remained continuously switched off, and they could not be contacted.
Cyber Police registered a case on the basis of Girish’s complaint and started an investigation into the alleged fraud.
Why Should Social Media Offers Be Treated Carefully?
The case shows how an attractive social media advertisement promising unusually high returns can be used to draw people into a financial fraud. In this instance, the initial promise involved paying a high price for old currency notes, while the victim was later asked to transfer money as processing fees and other charges.
People should be cautious when an online offer requires them to send money before receiving the promised payment, particularly when the communication comes through social media or unknown phone numbers.
The420 Insight
An offer to pay unusually high prices for ordinary old notes can become a costly trap when the person making the offer starts demanding advance payments. The Sikar case shows the importance of verifying such social media advertisements and avoiding transfers made in the name of processing fees or other unexplained charges.
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