Retired bank general manager tries to end milk subscription, ends up losing Rs 99,000

Another case of cyber fraud has surfaced from Bengaluru in which a retired chief general manager of a bank lost Rs 99,00 while trying to end his milk subscription.

Narrating his ordeal, the victim said that he had been buying a litre of milk daily from the online store for three years. On February 2, when he tried to halt the subscription, he encountered difficulties. Despite both contact numbers of the grocery store being busy for half an hour, Madhav managed to find an alternative number online, purportedly belonging to the store. Upon calling, the person who answered claimed to be a store executive.


As per the victim, the person asked him to talk in Hindi as he is not fluent in English.

The fraudster then told the victim to download a remote access application, citing it as necessary to cancel the subscription.

Without realising the trap, the victim then went on give the fraudster access to his digital payment application (DPA) PhonePe as well. The bank executive said that he then inadvertently transferred the money from his account after entering specific details as directed.

When questioned about the transfer, the individual assured Madhav of rectifying the error and advised him to wait for a refund within four hours. However, growing suspicious, the retired bank general manager contacted his bank to freeze his account. Subsequently, the fraudster contacted him again at midnight, but Madhav, now aware of the scam, refused to comply.

The following day, he lodged a complaint with the police. As per a Times of India report, police has initiated proceedings under the Information Technology Act and relevant sections of the Indian Penal Code, including Sections 419 (cheating by personation) and 420 (cheating and dishonestly inducing delivery of property), and have taken steps to freeze the fraudster's account.