Here's how a former MNC MD lost Rs 4.8 crore to online fraudsters impersonating CBI officials

In a recent case of online fraud, a former managing director (MD) of a multinational company (MNC) in Thane, India, lost Rs 4.8 crore to scammers posing as officials from the Central Bureau of Investigation (CBI). The 67-year-old victim was targeted through a sophisticated scheme that began with a phone call.

The scammers claimed to have intercepted a package addressed to Taiwan containing illegal items such as MDMA, passports, and credit cards. They already had some of the victim's personal details, including his phone number, which they used to fabricate a case against him at a Mumbai police station. They threatened him with arrest for money laundering and drug trafficking unless he cooperated.

To further deceive the victim, the scammers convinced him to download a video calling app, usually Skype, for a supposed investigation. Pretending to be CBI officials, they coerced him into revealing sensitive information such as bank account details, debit card numbers, and CVV codes. They also pressured him into disclosing details of his property holdings.


The fraudsters then manipulated the victim into transferring Rs 1 crore to his wife's account, claiming it was necessary to prove his innocence. Fortunately, the victim became suspicious and consulted his son in the UK, who helped him realize that he was being scammed.

The Thane police are currently investigating the case, which serves as a stark reminder of the increasing sophistication of online frauds. It is crucial to remain vigilant and never share confidential information over the phone. Always verify the legitimacy of any caller claiming to be from an official agency to avoid falling victim to such scams.