A 34-year-old resident of Yousufguda has fallen victim to a loan fraud, losing more than ₹3 lakh to fraudsters posing as representatives of Bajaj Finserv.
The incident began on August 11, when the victim was approached with an offer of a personal loan of ₹1 lakh. Trusting the assurances given, he was persuaded to make several payments under different pretexts, including insurance, TDS, NOC, GST, RBI mail clearances, account conversion, loan activation, late fines, advance EMIs, and cash deposits.
According to investigators, between August 11 and 20, the victim transferred a total of ₹3,04,058 to multiple individuals, believing that the payments were required for loan approval. The fraudsters used fake emails and text messages, claiming to be from Bajaj Finserv and the Reserve Bank of India, to make the scam appear genuine. Despite repeated payments, no loan was sanctioned, and the demands for more money continued.
Following a complaint, the cyber crime wing of the Hyderabad police registered a case and launched an investigation.
Authorities have urged citizens to remain cautious and not to fall for unsolicited calls, emails, or messages offering instant loans. Officials emphasised that neither banks, non-banking finance companies, nor the Reserve Bank of India ever request advance payments for processing or disbursing loans.
The police advised the public to apply for loans only through authorised bank branches, registered NBFCs, or their official websites and apps. People were also warned not to transfer money into personal accounts of unknown individuals.
Victims of cyber fraud are encouraged to immediately contact the Cybercrime Helpline at 1930 or file a complaint at www.cybercrime.gov.in. In urgent situations, help can also be sought through WhatsApp at 8712665171.
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