Now Reading: Hyderabad man loses Rs 99,018 to phone update cyber fraud
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Hyderabad man loses Rs 99,018 to phone update cyber fraud
A 27-year-old from Banjara Hills lost Rs 99,018 from his bank account after a software update installed automatically while he watched Instagram Reels. The money went in four unauthorised transactions on the…
The Story in Brief
A 27-year-old from Banjara Hills lost Rs 99,018 from his bank account after a software update installed automatically while he watched Instagram Reels. The money went in four unauthorised transactions on the night of August 2. Banjara Hills police registered a case and are investigating, Telangana Today reports.
Separately, Hyderabad's Cyber Crime Police arrested 49 people in July across 15 states and filed 70 FIRs. Refunds of nearly Rs 99 lakh were made to victims. Trading fraud accounted for 25 cases and Rs 11.75 crore in losses. Police urged citizens to avoid fake investment groups and report fraud on helpline 1930.
The Indian Opinion
These scams prey on simple habits like clicking a malicious link or trusting an update prompt. The July arrests show police are acting, but refunds recover only a fraction of the Rs 13.87 crore lost. Banks and regulators must do more to freeze stolen funds fast. The real test is whether the next victim sees money returned within weeks, not whether another culprit is caught.
Sources (2): telanganatoday.com, siasat.com
This story was synthesised by AI from the 2 sources linked above.
Updated: this story now draws on 2 sources.
