Private firm employee loses ₹7.17 lakh after fraudsters gain unauthorised access to bank accounts by porting phone number
A private firm employee in Bengaluru lost over ₹7 lakh after fraudsters performed a SIM swap to gain unauthorized access to his bank accounts. The police have registered a case under the IT Act and the new Bharatiya Nyaya Sanhita.
Why it matters
This highlights the increasing prevalence of SIM-swapping cybercrimes and the vulnerability of multi-factor authentication systems tied to mobile numbers.
A 27-year-old private firm employee from BTM Layout has allegedly lost ₹7.17 lakh to cyber fraudsters after his mobile number was fraudulently ported to another telecom network and used to gain unauthorised access to his bank accounts.
The article provides a factual account of a crime and the subsequent police investigation.
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