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Police arrests two in KYC fraud case

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“Lakhs of rupees have been siphoned by the cyber criminals in Kashmir valley through these frauds”

Srinagar: Cyber Police has busted a KYC fraud gang by arresting two persons from Srinagar.

The arrests were made following the investigations into complaints regarding KYC fraud lodged with Cyber Police Kashmir.

“During the course of investigation, Cyber Police Kashmir Zone Srinagar tracked down two persons involved in such crimes who were arrested from a rented accommodation at New Theed Harwan area of Srinagar,” a statement issued by the police said.

The arrested persons have been identified as Mohammad Hanzala Beigh son of Mohd Shafi resident of Court Road Vailoo, Kokernag and Mohammad Rajab Khan son of Ali Mohammad resident of Wairad, Kokernag.

“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 cheated gullible citizens,” the statement said.

“The typical mode of operation in such cases usually includes that these fraudsters withdraw money from the accounts of victims and transfer it to bank accounts based in different parts of country and ultimately withdraw it. But a very unusual modus operandi was found wherein Kashmir based bank accounts were found involved in this incident. The two arrested 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 & Srinagar who have been provided some monetary benefits by the arrested persons,” said the statement.

It said that Cyber Police Kashmir recovered 07 Mobile Phones, 13 Sim Cards, 47 ATM Debit/Credit cards of different banks, 36 FINO Bank account Kit books, 04 Cheque Books, 06 blank cheques, 07 Passbooks and other documents from the arrested persons.

Giving details of the mechanism of these cyber criminals, the statement said that Cyber Police Station Kashmir Zone, Srinagar received multiple complaints regarding KYC frauds wherein the victims are receiving unsolicited communications in form of calls and SMS, urging them to call on some provided numbers for updating their KYC.

Thereafter, the victims are asked to share certain personal details, account/login details/card information, PIN, OTP, installing some unauthorised/unverified application through links provided in the communication. Such communications have also been reported to include threats of bank account freezing, blocking, or closure.

When the victims share information over a call/ message or access unauthorized application, fraudsters gain access to the customers’ bank accounts and defraud them.

Cyber Police Kashmir also learnt that the messages are sent out to people for updating their KYC on their mobiles. The messages sent to victims are in format as “Dear xyz, your SIM card KYC documents will expire soon. Please call on 9xxxxxxxxx9 our JIO customer care team. Service will be stopped within 24 hours. Thanks”.

When the complainants call on these numbers, the cyber criminals pose as representatives of leading telecom companies and ask callers to recharge by very small amounts like Rs 10 ,15 etc through mobile apps like JIO app. The fraudsters make victims to download remote access applications like “Anydesk, Quick Support or Team viewer” and then make them to provide their personal and financial details. When the unaware victims follow their directions and make recharge payment, they receive messages related to withdrawal of money from their bank accounts. Lakhs of rupees have been siphoned by the Cyber Criminals in Kashmir valley through these frauds.

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