2000 SBI Credit Card Holders Duped Of Rs 5 Crore – What Should You Do To Avoid Such Scam?

The mastermind, along with his aides and partners totalling 30 people have been arrested.

2000 SBI Credit Card users robbed of Rs 5 cr
2000 SBI Credit Card users robbed of Rs 5 cr

In a scintillating development, 2000 State Bank of India (SBI) credit card holders were duped of Rs 5 crore by a team of scamsters from Delhi and Hyderabad.

How did it happen, and what should you do to avoid such scam?

Read on to know more!

30 People Arrested Over SBI Credit Card Scam

Cyber Crime Branch of the Cyberabad City Police have arrested 30 people in New Delhi, for duping 30 people of Rs 5 crore.

They all were SBI Credit Card users, and fell into the trap of free gifts, via online purchase.

This fraud was unearthed after Mrudula Koduri, Assistant Manager, SBI Cards and Payments Services complained to Cyber Police regarding unauthorised transactions being done on SBI Credit Card holders.

Every one of the victim shared the same modus operandi, and in most of the cases, the amount deducted was also the same.

After investigation by the Cyberabad Cyber Crime Police, it was revealed that the bank account where the scammed money was being parked is linked with a website.

And this trail helped the police to nab the fraudsters.

The Modus Operandi Of SBI Credit Card Fraud

The story of this fraud started with Sandeep, who owns a cloth shop called Jay Shree Distributors at Ramgopalpet, Secunderabad. He was in debt, and he wanted some fast monetary solution.

He was approached by a fraudster named Vijay Kumar Sharma from New Delhi, who was earlier caught for a bank related fraud, but was set free.

Vijay is the mastermind of this fraud, and he convinced Sandeep to use his website: jayyshree dot com to carry out the fraud.

The plan was simple: Agents posing as employees from SBI Credit Card Division will call SBI Credit Card users, and convince them to share their card details, promising them free gift from the website.

However, for that, they asked the OTP for carrying out a transaction, and as soon as the OTP was shared, the amount was deducted.

Now, they needed a team of telecallers who will call the customers, and for that, Sharma teamed up with a direct sales agency called Sapphire Business Solutions in New Delhi.

They created a team of 22 telecallers, most of them were women.

The founders of Sapphire Business Solutions, along with Sharma and Sandeep have been caught.

How Can You Avoid Such Frauds?

As shared earlier, the first and foremost rule is that, never ever share OTP with anyone on the phone.

Banks have repeatedly informed their customers that even if a genuine bank employee asks for OTP, don’t share it.

This whole fraud could have been avoided if the SBI Credit Card users hadn’t shared their OTPs, along with the credit card details.

Stay alert, stay safe.


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