Hyderabad man scammed of Rs 3.17 lakh in fake loan scheme

A man was duped of Rs 3.17 lakh by cyber fraudsters under the pretext of securing a loan to expand his business. The fraudsters contacted him via phone, promising to arrange a Rs 50 lakh loan.

After gaining his trust, the fraudsters



requested documents, including Aadhaar, PAN card, and Trade Licence. The Hyderabad man was asked to pay various fees, such as processing and translation fees, amounting to Rs 3,17,207. Realising he had been scammed, the victim approached the police, who registered a case.