In a shocking case of digital deception, a project engineer from IIT Powai discovered that fraudsters had not only taken out three loans worth ₹4 lakh using his personal details but also maxed out four credit cards in his name for online shopping worth ₹10 lakh, all between January 8 and 19, without him having the faintest idea.
The veil of this crime lifted when a financial company called Credito20 reached out on February 20, asking him to pay an EMI of ₹13,500. Alarmed, the engineer denied ever taking such a loan. “When I informed the institution that I have not taken any loan, they provided me my Aadhaar card, PAN card, and banking details that were used in availing the loan and carrying out fraud with the four credit cards,” he said in his complaint.
The deeper he dug, the darker the picture became. Two more unauthorized loans were found in his name: ₹3 lakh from Punawala Fincorp and ₹80,000 from Kisth Finance Company. The shocking revelation came when he checked his CIBIL score after lenders started calling him for repayment.
The cybercrime unit from the western region officially filed a fraud case against unknown persons on May 28. According to an investigating officer, “Probe is on to find out why the complainant did not receive any alerts from the financial institutions when the loans were issued.”
The investigation also focuses on how his confidential documents like Aadhaar, PAN, and bank details were compromised and used to obtain credit cards and make a staggering 156 online transactions. The victim had earlier raised the alarm through the cybercrime portal in February itself.
Officials are now piecing together when and where the fraudulent cards were used, and why there was a complete absence of alerts or verifications. The fraud case stands as a chilling reminder of the vulnerabilities that come with digital identities in today’s interconnected financial ecosystem.
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