Reward points on your credit card purchases may lead to financial losses. The Ahmedabad Cyber Crime branch has arrested three persons for cyber fraud of this kind.
The accused have been identified as 36-year-old Chetansinh Sisodia from Odhav, 32-year-old Ankit Panchal from Ramol, and 29-year-old Mohit Patel from Nikol. The trio was caught in possession of various bank cheque books and authorities are tracing the bank accounts used to make illicit deposits.
The Cyber Cell has already acted upon three FIRs related to this case. However, officials anticipate that the number of victims may surge due to the increasing prevalence of this fraudulent scheme, which has already resulted in significant financial losses for numerous individuals.
According to sources within the Cyber Cell, the fraudsters operated under the guise of MDM traders. They targeted unsuspecting victims with enticing messages offering reward points on credit card purchases, persuading them to click on a provided link. Unwitting victims were then tricked into entering their credit card details, including the CVV number, in anticipation of receiving lucrative vouchers from renowned e-commerce platforms.
“When users filled in their information, the application requested access to messages, providing the scammers with the OTP needed to siphon cash from credit cards,” explained PSI BB Solanki from the Cyber cell unit.
DCP Ajit Rajian of the Cyber Cell unit issued a stern warning about the increasing use of credit cards for both online and in-person transactions. He noted that while many individuals eagerly redeem reward points for substantial benefits on subsequent purchases, fraudsters are exploiting this desire for rewards points’ redemption.
“While the individual losses may be modest, the sheer volume of victims in these scams is substantial,” added PSI Solanki.
As cybercriminals continue to evolve their tactics, vigilance remains paramount. The allure of reward points should not blind individuals to the potential risks involved.
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