Probes into cybercrimes reveal fraudsters’ tactics

Representation Pic

Mumbai Police's cyber helpline 1930 has been swamped with cyber fraud complaints, revealing the types of frauds prevalent in the city.

Probes revealed the tactics used by these criminals, and police said the five major frauds prevalent in the city include stock market investment scams, part time job task fraud, fake arrest, digital arrest schemes, and the infamous deepfake scam. The cell advised the public to remain vigilant and upon encountering any suspicious activities, they must disengage and report the incident to the police.

"We continuously issue guidelines and conduct awareness programs to ensure that citizens are informed about the latest cyber frauds," said Datta Nalawade, DCP Cyber Cell.

Their course of actions are as follows:

Stock market frauds
Fraudsters run enticing programs in the stock market, leveraging social media platforms like WhatsApp, Telegram, and conduct live broadcasts. They pose as representatives or partners of government-registered Foreign Portfolio Investments, convincing individuals to download apps that supposedly allow them to purchase shares, subscribe to IPOs, and access institutional account benefits without needing an official trading or demat account. These operations often use numbers registered under fake IDs.

Modus operandi
1. Victims are added to WhatsApp groups through Facebook, Instagram, or other social media.
2. Fraudsters conduct online classes on stocks and IPO investments to build trust.
3. Victims are encouraged to download trading apps/APK files, often from Google Play Store.
4. Victims are asked to make initial payments or add money to their accounts.
5. Once money is added, fraudsters freeze the funds, preventing access.
6. Victims are left trapped with no recourse to retrieve money.

Part-time job/Task scam on Telegram
There has been a rise in part-time job scams on Telegram, where fraudsters use phishing techniques to target people seeking extra income. The target groups include housewives, students, and unemployed persons.

Modus operandi
1. Victims are lured with part-time job offers promising high returns, often through social media, SMS, or WhatsApp containing links to Telegram or WhatsApp groups.
2. They are then influenced by videos/testimonials from social media influencers and are coaxed into downloading apps unavailable on official platforms like Google Play Store and Apple App Store.
3. Scammers use referral codes to benefit from victims' investments, claiming to offer 200% returns through tasks like purchasing goods.
4. Initially, victims can withdraw their first earnings, but as they invest more, they are trapped in a loop of adding money for more tasks, eventually losing all their investments when the scammers stop responding.

Fake arrest
The "fake arrest" fraud is a deceptive scheme where cybercriminals exploit individuals' fear of legal trouble.

Modus operandi
1. The scam starts with a call or e-mail claiming to be from law enforcement, often using fake caller IDs.
2. Victims are falsely accused of crimes like money laundering or drug trafficking, with scammers providing fake evidence to back their claims.
3. Victims are told there's an arrest warrant against their name and are made to believe immediate action is required.
4. To avoid arrest, victims are coerced into making substantial payments via wire transfers, prepaid debit cards, or cryptocurrency.
5. Scammers use threats of violence/further legal action for quick compliance.
6. After receiving payment, the scammers disappear, but sometimes continue to harass the victim for more money.

Digital arrest
According to Mumbai Cyber, a large number of complaints have been reported over intimidation, blackmail, extortion and "digital arrests" by cyber criminals posing as police authorities, CBI, NCB, RBI, ED and other law enforcement agencies. "Across the country, several victims have lost large amounts of money to such criminals. This is an organised online economic crime and is learnt to be operated by cross-border crime syndicates," an officer of the cyber cell said.

Modus operandi
1. Fraudsters typically call the victim and inform them that they have sent/are the intended recipient of a parcel containing illegal goods, drugs, fake passports or any other contraband.
2. Sometimes, they also say that the victim's relative/friend was involved in a crime/accident and is in their custody.
3. A demand for money is made to compromise the "case".
4. Sometimes, unsuspecting victims undergo a "digital arrest" and remain visually available over a video conferencing platform till the fraudster' demands are met.
5. Fraudsters often use studios modelled after police stations and government offices and wear uniforms.

Deepfakes
Deepfakes are manipulated media where a person's likeness in an image/video is replaced with someone else's, using AI and deep learning algorithms.

Modus operandi
1. Deepfakes are made by feeding a computer algorithm with images and audio of a person, enabling the program to mimic their facial expressions, mannerisms, and voice.
2. Scammers use deepfakes to con people for money or to target and harass women through revenge porn.
3. Apps like FakeApp and Faceswap, which allow users to create deepfakes, have made these scams more accessible.

2,81,019
Complaints were registered with the department between 2021 to 2024

Rs 3,324.9 cr
Amount of fraudulent transactions between 2021-24. Of this Rs 358.77 crore were successfully put on hold