With the rise of the internet and net banking, money transaction is a breeze but it comes with its perils. While a lot of people regularly use Paytm, Google Pay and bank cards to make payments online, it has opened a pandora box for people with malicious intent. Every other day we see someone on social media telling their story of how they got scammed and quickly share with our loved ones to keep this from happening to them. What will happen if you end up losing your savings from your account in a jiffy?
Founder of The Untold Story of India, Vaibhav Arora, like others, received a similar scam call from Bihar but it ended up being an interview of the scammer where he(scammer) freely shared his modus operandi and all the ins and outs of this shady practice of duping people. Vaibhav was able to record most of the call (below). A TV series on the similar lines, Jamtara is streaming on Netflix as well but it doesn’t capture the bigger scam at play.
By the sound of it, the scammer is not worried about police complaints. He is convinced he is safe, thanks to the sloppy process. The fact that this makes them invincible is even more horrifying.
Some of the statements from the scammer include
“Sir jab pura duniya chori kar raha hai to hum kyon nahin ?”
English: When the whole world is stealing, why not us?
“Police report likhne ka hi 10 hajjar rupay legi, kar lijiye..”
English Police will take 10,000 Rupees ($150) just to file report.. Do it if you want
Although this candid conversation with the scammer is intriguing, it also exposes a huge underlying scam that involves bank managers and a whole network of scammers to make quick money by duping people of their savings.
The scammer also mentions that he earns roughly INR 60,000 ( US $840 ) a day and has shared his modus operandi in the recording below.
How do they operate
Step 1: Crooks call up unsuspecting posing as bank officials and ask for a one-time password, credit/ debit card number, CVV number, expiry date, secure password, internet banking, ATM PIN, login ID, and password.
Step 2: Reasons given are reactivation of account/card, redemption of reward points, linking account with Aadhaar, etc
Step 3: Details are then used to conduct online transactions
Step 4: Money transferred to e-wallets/bank accounts that operate on phone numbers procured using fake information
Step 5: Cashout giving 10% commission to bank managers who have access to thousands of unused bank accounts
Below, you can listen to the call record in Hindi with English subtitles.