Beware : Noida Residents Become Victim of New Kind of Financial Fraud, Read Now To Stay Safe!

Financial frauds are becoming increasingly common in India and fraudsters are using many innovative techniques to dupe individuals. Governement as well as RBI has been repeatedly issuing advisary through different mediums to create awareness among citizens to stay safe from financial frauds. However now that most people have become vigilant towards not sharing their bank details over phone, some cunning fraudsters have come up with an innovative technique to dupe people.

At least six FIR’s have been registered in Noida in last few days in which complainant allege of losing lakhs of rupees through bank account withdrawals. Large amount of money have been withdrawn from the accounts of the individuals without their knowledge. With such cases on rise, it is very important for you and your near and dear one’s to know about the modus operandi of this gang to save yourself from such fraud.

The gang targets well-off individuals whom they suspect of having good enough bank balance. They approach the victim by calling them on their phone numbers and offering easy interest loans on various pretexts or gives them a very lucrative credit card offer. They deploy great sales skills to convince the victim of the fact that the offer is very exclusive for them and should be taken asap. The interest rates being quoted by these fraudsters is also selected very cunningly so that it isn’t as low as to sound unbelievable whereas at the same time remains enticing.

After the customer is convinced an agent visits him to complete the formalities. The gang is such well-established that the agent not only carries printed forms but also wears a convincingly original looking ID cards of the banks. These agents then take copies of different ID cards and collect 3-4 cancelled cheques. The fraud begins from this moment. The agent offers his own pen to the victim to fill the form, claiming it to be the right kind of ink and the same pen is later used to sign and cancel the cheque. The pen looks a normal ball point pen but is somehow equipped with erasable ink.

After completing the formalities with the victim they leave the house with a promise and getting back to them in 3-4 working days. Later they use the ID card details to bar the phone of the victim by claiming to have lost it. After the phone number has been blocked, they used the cheques to withdraw big amounts from the victims account.

The unsuspecting victim receives no intimation from the bank as his number is blocked. And its only after he make a transaction in future or visits his bank, is informed of the fraud.

As of now, six such cases have come up in Noida and police cases have been filed by different individuals who narrate similar experiences.

Bankers says that there are only very few conditions in which a cancelled cheque requires signature and mostly it is not at all required to sign a cancelled cheque hence account holders must keep that fact in mind.

Also while going for a financial transaction it is very important that you verify the whereabouts of the agent, with the concerned company before handing out your documents to him. This can be easily done by dialing the landline of the company that agent claims to be working for.