The accused, a construction contractor, then began using the businessman's number to obtain OTPs for the fraudulent transactions.
A Mumbai businessman became the victim of cyber fraud amounting to Rs 3.3 crore when a man siphoned off the amount from his bank account.
The accused, Govandi resident Amanatullah Shaikh, gained access to the businessman's account through an illegal sim card which he used to receive OTPs for transactions.
The large sum was swiped from the businessman's account during July 7-9, leading to him approaching the Mumbai Cyber Cell on July 12.
The victim is a publisher of school books.
According to a report in Times of India, Shaikh used to keep tabs on the businessman's information. He knew the businessman's mobile number and had his personal documents.
Planning the perfect crime
The first step in executing the crime was the accused approaching a mobile service provider and pretending to be the businessman in order to obtain the same phone number.
Shaikh asked the telecom company to block the businessman's number as "he had lost his phone" and issue him a new sim.
The accused, a construction contractor, then began using the businessman's number to obtain OTPs for the fraudulent transactions.
Syndicate behind theft?
Shaikh was arrested on Saturday by the Mumbai Cyber Police. The police is now trying to determine how Shaikh came to possess the businessman's personal documents as well as his account details.
Several persons are suspected to be involved. It’s not easy for anyone to get someone else’s bank account details and also identity cards. Shaikh’s arrest is just the beginning of our probe, a police officer told media.
While Shaikh stole Rs 3.3 crore from the businessman's account, he transferred about Rs 25 lakh of it to his own account. He used Rs 1.5 lakh to buy gold and spent an additional Rs 4 lakh on other things, police said.
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