KYC Fraud: Police arrests two for duping people

14/10/2021

SRINAGAR, Oct 13: J&K Police's Cyber wing arrested two persons for allegedly cheating the public on the pretext of updating their KYC (Know Your Customer) details.
Acting on a tip-off, Cyber Police Kashmir took swift action and started investigations and raided a place at New Theed in Harwan area of Srinagar, according to a police spokesman.
He said the two persons, identified as Mohammad Hanzala Beig and Ali Mohammad of Kokernag in south Kashmir, had rented a room at Harwan from where they were operating the crime.
He said during preliminary investigation, it came to fore that for illegal monetary gains, the accused persons in connivance with non local cyber criminals operating from UP, Bihar and other states in organised ways cheat common people.
The spokesman added the typical mode of operation in such cases usually includes that these fraudesters withdraw money from the accounts of victims and transfer it to bank accounts based in different parts of the country and ultimately withdraw it.
He said a very unusual modus operandi was found wherein Kashmir-based bank accounts were found involved in the scam.
The duo accused were found to have created dozens of local bank accounts fraudulently and have provided the same along with their ATM Cards to the co-accused located outside state. Most of the bank accounts have been created in the name of destitute women from South Kashmir and Srinagar who have been provided some monetary benefits by these two arrested persons, the spokesman said.
Cyber Police Kashmir recovered seven Mobile Phones,13 Sim Cards 47 ATM Debit and Credit cards of different banks, 36 FINO Bank account Kit books, four Cheque Books, six blank cheques, seven Passbooks, and other documents during the raid.
"More arrests are likely to take place in this connection as investigation is going on," he added.

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