Man alleges unauthorised money transactions; lost Rs 40 lakh

In Hyderabad, a 57-year-old man reportedly lost Rs 40 lakh from his bank account without receiving OTPs or transaction alerts. Cyberabad police are investigating possible cyber fraud involving SIM cloning, malware, or unauthorized access to banking credentials

Hyderabad: In a suspected case of cyber fraud, a 57-year-old man from Puppalaguda has reportedly lost Rs 40 lakh from his bank account despite receiving no OTPs, phone calls or SMS alerts related to the transactions.

According to information available, the victim, B Achyuta Rao, holds an account in a leading private bank’s Raidurgam branch. The unauthorized transactions reportedly took place between January 23 and 27.

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What has raised serious concern is the absence of any authentication alerts. The victim stated that he did not receive OTPs, in calls or even transaction messages on his phone during the period when the money was withdrawn.

On realising the fraudulent activity, Achyuta Rao approached the Cyberabad Cybercrime Police and lodged a complaint.
Case is under investigation.

Police are examining whether the fraud involved advanced techniques such as SIM cloning, malware, or unauthorised access to banking credentials.