Rs. 61000 STOLEN through loan scam on Instagram; how this woman lost her money | Tech News

Rs. 61000 STOLEN through loan scam on Instagram; how this woman lost her money

A loan ad on Instagram Reels cost this woman around Rs. 61000. Here’s what happened.

| Updated on: Feb 25 2023, 18:15 IST
7 Instagram features that you must try- from knowing who is Online to sending silent messages
1/7 Know who is online on Instagram: Once you open the app, at the top of your inbox, you can see who is free to chat at that moment, helping you find serendipitous opportunities to connect with friends. (Pixabay)
2/7 Send silent messages: Send messages without notifying friends late at night or when they’re busy by adding “@silent” in your message. Now you can reach out without worrying about sending unwanted notifications. (REUTERS)
image caption
3/7 Reply while you browse: Receive a new message while you are browsing your feed? You can now reply without going to your inbox and losing your place. This new feature makes it that much easier and more convenient to chat while on the app. (Pixabay)
image caption
4/7 Quickly send to friends: You can reshare interesting content without interrupting your Instagram experience. By tapping and holding the share button, you can effortlessly reshare posts to your closest friends. (AP)
5/7 Keep it on the lo-fi: Feeling chill? Try the new lo-fi chat theme to make your conversations feel more personal. (Reuters)
image caption
6/7 Create a poll with your squad: Deciding where to go to dinner or what time to meet up? Instagram is bringing one of Messenger’s most beloved group chat features on the app so you can create a poll directly in your group chat. (Unsplash)
image caption
7/7 Play, pause, and re-play: Enabled by integrations with Apple Music, Amazon Music, and Spotify coming soon, you can now share a 30-second preview of that song you just can’t get out of your head, and your friends can listen directly from your chat. (Pixabay)
icon View all Images
A Mumbai woman lost Rs. 61000 in an online loan ad scam via Instagram Reels. (Unsplash)

Social media has turned into a green field for online fraud. In a shocking instance, Instagram Reels proved to be the ondoing of a woman restaurant owner from Worli-Koliwada in Mumbai. She was scammed out of over Rs. 61000 after she applied for a low-interest rate futures loan, which she found on Instagram Reels. As per a report by Hindustan Times, Rutali Kolge, approached the police on February 23 and lodged a report about the incident.

On February 17, while searching for a loan to expand her business, she came across an advertisement on Instagram Reels. She clicked on the "Apply" button, which directed her to an online form to fill in her personal details. On the same day, she received a call from someone claiming to be Pankaj Singh Bhaduria, a representative of the finance company. He provided an explanation of the terms, period, rate of interest, and other relevant details and ultimately convinced her to apply for a loan of Rs. 10 lakh instead of the original amount of Rs. 5 lakh.

You may be interested in

MobilesTablets Laptops
7% OFF
Apple iPhone 15 Pro Max
  • Black Titanium
  • 8 GB RAM
  • 256 GB Storage
28% OFF
Samsung Galaxy S23 Ultra 5G
  • Green
  • 12 GB RAM
  • 256 GB Storage
Google Pixel 8 Pro
  • Obsidian
  • 12 GB RAM
  • 128 GB Storage
Apple iPhone 15 Plus
  • Black
  • 6 GB RAM
  • 128 GB Storage

Not just that, the man sent the complainant an identity card with the company logos to verify his identity. She received a QR code to pay the processing fee. She did. Thereafter, she should have realised there was a problem as the representative told her the payment did not go through. She sent it again and he promised to refund the earlier amount. The fraudster then asked her to pay another amount to complete the process of the loan. This time she refused and said she would visit the company's office instead.

Also read
Looking for a smartphone? To check mobile finder click here.

Shockingly, when her family members visited to check the office at the said location, there was nothing! This is when she decided to reach out to the police.

Precautions to save yourself from online fraud

  • Always be cautious of unsolicited messages or, as in this case, unverified ads on social media.
  • Never respond to messages or friend requests from unknown people as fraudsters may use fake profiles.
  • Always verify before sharing any information, post, or link. Instead, keep your personal information, such as PAN card or Aadhaar Card, private as much as possible.
  • Avoid clicking on suspicious links.
  • Always ensure to use strong passwords and enable two-factor authentication.
  • If you find any suspicious activity, then report it police cyber cell immediately.

Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel.

First Published Date: 25 Feb, 18:15 IST