Cyber police have arrested a member of an interstate gang that impersonates bank personnel to collect sensitive banking information from unsuspecting individuals. The arrested individual, Ashiq Ali alias Arif, 32, was apprehended in Delhi. Authorities are currently searching for four additional suspects connected to the gang.
The investigation began after a 26-year-old man from Kalamboli reported being conned into providing his bank details in July 2024. The gang then used this information to access a pre-approved personal loan amounting to Rs14 lakhs. “During the investigation, banking transactions led us to Delhi, where we identified and arrested one of the accused,” an officer stated.
The gang’s modus operandi involves using a new phone number for each target, convincing them they are calling from Axis Bank, which is registered on the True Caller app. The accused are wanted in multiple states and are also linked to a credit card fraud case in Cyberabad in 2023. Once the victim answers the call, the gang engages them in conversation to secure their confidential details for accessing their net banking and processing the pre-approved loan.
Victims are then informed about the sanctioned loan and are misled into believing they need to pay EMIs. They are convinced to share their OTPs under the pretext of canceling the loan, which the fraudsters then exploit to transfer the loan amount to multiple accounts.
Arif was specifically tasked with making the calls, while others in the gang were responsible for sourcing SIM cards and phones. Authorities have indicated that the gang operates with multiple bank IDs and continues to con unsuspecting individuals using this model. They are actively searching for the remaining suspects.
