A major credit card scam targeted SBI customers across the nation. It resulted in losses of nearly ₹2.6 crore from 350 victims, reported Hindustan Times.
A total of 18 individuals were arrested after a six-month police investigation. The probe exposed the scam’s intricate network, which included insiders at a Gurugram call centre, field operatives, SIM card providers, and even cryptocurrency handlers.
How was the credit card scam orchestrated?
The fraud began at an authorised Gurugram call centre where employees conspired and leaked sensitive SBI customer information. Using this information, fraudsters posing as banking executives tricked cardholders into revealing confidential information such as OTPs, PINs, and CVVs.
The stolen details were then utilised to purchase electronic gift cards, which were resold to travel agents later on for cash conversion. To further complicate the money trail, the funds were laundered through cryptocurrencies, particularly Tether (USDT).
The entire gang functioned like a corporate network with clearly defined roles for masterminds, data thieves, fund managers, callers, and suppliers of SIMs. Such efficient planning made the entire scam difficult to trace.
Hence, this case underlines the importance of financial literacy and constant vigilance. Staying updated, alert, and informed continues to remain the strongest defence for credit card users.
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