Cyber crimes like phishing and password fraud are surging in India. Most victims are people from small towns and villages with modest incomes. “The money I lost in the scam was my home loan. I feel like I let my family down,” one victim said.
targeting victims in far richer nations such as the United States. Last year, federal prosecutors in Georgia announced the indictment of multiple India-based call centers and their directors, charging them with conspiring to forward tens of millions of scam calls to American consumers.allegedly scared their victims and stole their money, including some victims’ entire life savings,” then-U.S. Atty. Kurt Erskine of the Northern District of Georgia said at the time.
In turn, cybercrimes such as phishing, password fraud, persuading victims to download screen-monitoring apps, or setting up fake UPI links and QR codes are witnessing a surge. Though cybercrime is still far more common in the United States, which reported online fraud worth $3.3 billion in 2020 alone, its rise is all the more surprising in a country where 90% of the population earns less than $300 per month.Money meant for the lowest-income Los Angeles County residents is being siphoned from their EBT cards in record amounts.
Rahim grew convinced of the message’s authenticity in part because it contained a neatly designed poster of the game show. The message was followed by a phone call. If he wanted to move forward with the offer, the person on the other end said, he would have to deposit money for taxes.Over three months, scammers used an effective combination of threats and enticements to persuade Rahim to fork over $35,000, fully depleting his bank account.
“They used to handle several such bank accounts,” Gaikwad said. “Their job was to withdraw money from these accounts and route it forward.” The five were arrested and they are currently free on bail as the case proceeds. “We call it the golden hour,” he said. “The money is often stuck at the payment gateway after being transferred. It is easier to retrieve the money from there. Otherwise, we end up chasing people from different parts of the country.”
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