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“I was promised my money would be tripled in 3 weeks. I was desperate for cash so I just believed them.”
However, Jagjit Singh didn’t get a windfall of money. Instead, he was conned out of £3,500 in a phishing scam based in India.
India has been dubbed the home of most cyber fraud targeting people the world over. Hackers lure naive web-users with spam mail under pretences that there are cash prizes to be claimed. Personal questions are asked, often including bank details.
On New Year’s Eve 2011, a phishing gang was caught in India’s financial capital, Mumbai. The group of 6 Nigerian nationals were running a multi-million pound online scam. They attracted gullible people online to believe they had won cash prizes. In order to claim these fictitious prizes, claimants had to fork out Rs.4-5 lakhs (£5,000-£6,300). Police seized laptops with software that generated mobile phone numbers and email addresses.
Research by internet security firm, Kaspersky Lab, found more spam mail is sent from India that any other country. According to internet security specialist, Vijay Mukhi, this is because India has no spam law.
“If I’m a spammer I would rather spam from India to India and the rest of the world because nothing will happen to me.” Mukhi says cyber fraudsters based in India could act with impunity.
Spam could include financial scams, chain letters aimed at spreading computer viruses, and false advertising.
Jagjit Singh of Birmingham is one of millions of web-users who got caught in cyber fraud. In October 2011, he received an email from a company stating he was the lucky winner of a life-changing offer: triple your savings in just 3 weeks.
“I was struggling financially and have a daughter who is getting married soon. It seemed like a blessing that my prayers were being answered.”
But this was far from a blessing. Jagjit responded swiftly to the email by sending his personal details. Instantly he received a reply from someone named Jane. Her email failed to mention a company address or contact number. She required bank details from Jagjit to qualify for the offer.
The following day he received a phone call from a withheld number. It was Jane. She was asking for his bank details and insisted they would only be used to transfer money to him once his investment had tripled.
“She was so persuasive and insisted it was an offer I couldn’t afford to miss. I felt pressured into giving in. She made it sound so easy.”
Jane said she was based at her company headquarters in London. She spoke with a distinct Indian accent. He assumed she was Indian Christian, hence the name.
She told him to transfer his savings to the company via Western Union at a branch in New Delhi, India. Jane claimed the investment that would multiply his cash was taking place in India where she said “the economy is booming”.
“I couldn’t believe how lucky I was,” says Jagjit. “At a time when I was desperately strapped for money, this deal came along out of nowhere.”
Jagjit had no idea this “deal” was coming from a con artist based in India, presumably sitting at their home PC.
He went to Western Union to transfer £2,000. On returning home, he remembers feeling elated at the prospect of having £6,000 in cash in just 3 weeks time.
That afternoon Jane called again. She thanked him for making the money transfer but insisted he was not making good use of the offer.
“She told me this was a once in a lifetime opportunity so I should take advantage. She asked me to transfer more for a bigger investment payout.”
Jagjit dipped deeper into his pocket and could only afford to fork out another £1,500. He didn’t tell his family about the offer because he wanted to surprise them with the promised lump sum of cash.
The following week Jane called for the third time. This time Jagjit’s daughter answered. Jane asked to pass on a message to her father that she was making an exclusive offer for him to increase his investment with a higher payout. If he was interested he should send the money immediately.
“My daughter was suspicious straight away. She asked Jane about her company and contact number but Jane was beating around the bush. In the end, Jane hung up.”
Jagjit’s daughter confronted him and questioned this “investment”. He reluctantly told her about the offer he had been promised. She asked for paper-proof that his investment was secure. All he had were receipts from Western Union when he had transferred money that totalled to £3,500.
“My daughter was so angry. She instantly knew that I had been ripped-off. I can’t believe I had been so naive and given my money and bank details to a complete stranger.”
They went to Jagjit’s bank to seek advice. Coincidentally, they were told that the previous day somebody had gone to an Indian branch of that bank and posed as Jagjit. The swindler had asked to withdraw money but had failed on one security question.
“I couldn’t believe my identity had been stolen. I thought I had just lost £3,500 but these scammers were fishing around for more of my money.”
“In retrospect I can’t believe I was so gullible. I believed an offer that was too good to be true. I believed a complete stranger who I couldn’t contact. I gave away my money and bank details. I feel so violated.”
The 2011 Norton Cyber Crime Report found 431 million adults across the globe had been victims of phishing scams in the last 12 months. That is the equivalent of 14 scam victims every second. Precise figures are difficult to ascertain because not all victims report the crime.
We will be preparing a feature on how to spot a scammer, but in the mean time, have you or anyone you know been scammed? Do you know about any new or emerging scams? Let us know in the comment box below.
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