Hyderabad: Man loses Rs 7.9 lakh in Fake NGO loan fraud

A 30-year-old Begumpet resident lost Rs 7.9 lakh to a fraudster posing as an NGO founder offering a Rs 50 lakh loan. The victim transferred money via WhatsApp communication before realising the scam. Hyderabad Cybercrime police are investigating the case

Hyderabad: A 30-year-old resident of Begumpet fell prey to a fake NGO loan fraud and ended up losing Rs 7.9 lakh, allegedly after being lured with a false promise of a Rs 50 lakh loan.

The victim recently received a WhatsApp call from an unidentified person using a display picture of a popular actor, claiming to be the founder of a Hyderabad-based NGO. The caller informed the complainant that a loan of Rs 50 lakh had been sanctioned in his name and asked for Rs 10 lakh as processing and other charges.

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“Trusting the offer, the victim transferred Rs 7.9 lakh from his bank accounts to the bank accounts provided by the fraudster. When he later asked for the loan disbursement, the scammer demanded another Rs 30,000, assuring that the entire Rs 10 lakh would then be refunded,” Cybercrime officials said.

Realising he had been duped, the victim stopped further payments and lodged a complaint with the Hyderabad Cybercrime authorities, who are investigating the case.

Police urged citizens to remain vigilant against online loan fraud.