40000 SIM cards, more than 180 mobiles; This is how he used to commit fraud in online trading
Cyber Crime: The Indian stock market has been giving strong returns for the last few years. In such a situation, many new people have started investing money in the stock market who do not know its intricacies. Cybercriminals look for such people to commit fraud. Market regulator SEBI is continuously making people aware of this. But fraudsters are adopting new tactics to trap people.
The Indian stock market has been giving strong returns for the last few years. In such a situation, many new people have also started investing money in the stock market, who do not know its intricacies. Cybercriminals look for such people to commit fraud. Especially, by using social media platforms like Facebook, Telegram, and WhatsApp. Market regulator SEBI is continuously making people aware of this. But, fraudsters are adopting new tactics to trap people.
The cybercrime unit of Malappuram police has detained a person in connection with an online trading fraud case in Kerala, who possesses over 40,000 SIM cards and 180 mobile phones. He was also found to be carrying six biometric readers. Defendant Koppa, Karnataka is home to Abdul Roshan. He was apprehended after a Malappuram resident filed a complaint.
Abdul Roshan allegedly tricked the man out of Rs 1.08 crore by trapping him under the guise of online trading. On Facebook, the victim discovered a link to a website for share markets. He clicked on it, and that's when his bad days began. He was caught in the web of fraudsters.
The cybercriminals posed as customer service representatives of a stock market site. They extorted huge amounts from the victims by luring them with huge returns and dividends. Whenever the person did not get any return or dividend after 'investing' more than Rs 1 crore, he directly complained to the cyber police.
The police took this matter very seriously. Karnataka Police also helped Malappuram Police a lot and together they reached the accused, who was hiding in a rented room in Kotak district of Karnataka.
Police officials say that this case could be very big and many people are likely to be involved in it. Police said the accused used phones and SIM cards to obtain OTPs from cyber fraud victims. Mobile shops linked to the network of accused Abdul Roshan used to take fingerprints of their customers without their knowledge and then used them to activate the SIM cards.
Abdul Roshan bought such SIM cards for Rs 50. Never before had such a large number of SIM cards been used for any online fraud in the state. From this, it can be estimated how large could be the number of victims of Abdul Roshan and his fraud.
