Antique coins fraud: Bowenpally man loses Rs 3.61 lakh to scammers via Facebook ad
The victim met the scammers through a fake Facebook advertisement about a rare antique coin collection company.
By Newsmeter Network
Antique coins fraud: Bowenpally man loses Rs 3.61 lakh to scammers via Facebook ad
Hyderabad: A 57-year-old resident of Bowenpally was cheated out of over Rs 3 lakh by scammers who promised to provide him with large sums of money in exchange for his supposed antique coins.
Case details
The victim met the scammers through a fake Facebook advertisement about a rare antique coin collection company. The fraudsters, posing as officials of the ‘Indian Coin Company’ from Delhi, lured him by promising Rs 95 lakh in exchange for his coins.
They initially collected his coin images, photo and Aadhaar, then demanded multiple payments under the pretext of documentation, delivery charges, GST, flight tickets, customs clearance, vehicle accidents, police bribes, repairs, hotel and food expenses, and final ‘processing fees.’
Believing their assurances, the victim borrowed money from relatives and made repeated transfers, ultimately losing a total of Rs 3,61,847. The fraud came to light on September 21, after which the victim reported the case on cybercrime.gov.in.
A case has been registered and an investigation is on.
Public advisory
- The public should be aware that fraudsters are posting fake ads on Facebook/WhatsApp claiming to buy rare coins and fancy currency notes for crores of rupees.
- No genuine company pays crores for old coins or currency notes.
- Never share Aadhaar, PAN or other personal documents with unknown online entities.
- Do not transfer money on promises of advance payments or delivery of cash.
- Report such frauds immediately on the 1930 helpline or www.cybercrime.gov.in
- In case of any emergency of cyber fraud, please call or WhatsApp 8712665171.
- Follow the police on social media for the latest cyber awareness updates.
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