Police did not name the complainant stating it may hamper the investigation. (Representational)
Bhubaneswar:
An Odisha MLA and former information technology minister has lost Rs 1.4 to cyber fraud in around one-and-a-half months, a senior police officer said here on Monday.
The police arrested seven people – four from Karnataka and three from Tamil Nadu – in connection with the case.
The former minister, who lodged a police complaint in this regard in January, however, claimed that a friend of his had been using his trading account and lost the money.
The accused and their associates used to pose as trade analysts and persuade people to invest money into initial public offerings (IPOs), shares, and other forms of trading, promising them high returns, the police officer said.
During the investigation, the cybercrime unit of the Crime Branch found that the accused people fraudulently obtained Rs 1.40 crore from the complainant between November 13, 2024 and January 1, 2025, he said.
Police did not name the complainant stating it may hamper the investigation. (Representational)
Bhubaneswar:
An Odisha MLA and former information technology minister has lost Rs 1.4 to cyber fraud in around one-and-a-half months, a senior police officer said here on Monday.
The police arrested seven people – four from Karnataka and three from Tamil Nadu – in connection with the case.
The former minister, who lodged a police complaint in this regard in January, however, claimed that a friend of his had been using his trading account and lost the money.
The accused and their associates used to pose as trade analysts and persuade people to invest money into initial public offerings (IPOs), shares, and other forms of trading, promising them high returns, the police officer said.
During the investigation, the cybercrime unit of the Crime Branch found that the accused people fraudulently obtained Rs 1.40 crore from the complainant between November 13, 2024 and January 1, 2025, he said.
“On January 13 this year, we received a complaint that cyber fraudsters swindled Rs 1.4 crore from the complainant through a mobile app,” Crime Branch IG Sarthak Sarangi told a press conference.
He, however, did not name the complainant stating it may hamper the investigation.
Police sources said the complainant is a sitting MLA, a former information technology minister and an IIT graduate.
BJD MLA and ex-IT minister Tusharkanti Behera, however, told reporters: “My friend has been using my trading account and lost the money to cyber fraud. I have no such direct knowledge regarding the fraud,” Sarangi said the money has been sent to bank accounts in Karnataka, Kerala, Tamil Nadu, Telangana, West Bengal, Delhi, Himachal Pradesh, Assam, and Maharashtra.
In the first phase, crime branch teams were sent to Karnataka, Tamil Nadu and Kerala and they arrested seven people.
“Very soon we will send our teams to Hyderabad, West Bengal and Delhi to arrest other accused persons in this case,” the police officer added.
Make Do & Don’t: Protect Yourself from High-Value Cyber Frauds
MAKE DO
- Do Verify Investment Platforms Thoroughly
Before investing online (crypto, forex, stock apps), confirm if the platform is:- Registered with SEBI or RBI
- Listed on official government portals
- Reviewed positively by financial experts (not just influencers)
- Do Double-Check Unexpected Financial Opportunities
Scammers often promise high returns, insider info, or limited-time deals. Always consult a trusted financial advisor or banker before transferring large sums. - Do Use Multi-Layer Security
- Enable 2FA (Two-Factor Authentication)
- Use biometric lock on UPI and banking apps
- Monitor transactions with SMS and email alerts
- Do Freeze Accounts Immediately After Suspicion
If you feel you’ve been duped:- Contact your bank and block the account
- File a report at cybercrime.gov.in
- Call 1930 (Cyber Helpline)
- Do Educate Even Experienced Users
High-profile or senior people often get targeted due to wealth and influence. Training and awareness should be continuous, even for tech professionals and bureaucrats.
DON’T
- Don’t Trust Screenshots or Websites Alone
Fake trading dashboards, payment confirmations, and investment reports can all be fabricated. Verify the platform’s backend legitimacy, not just the UI. - Don’t Bypass Official Channels for “Special” Deals
Many victims fall for phrases like:- “VIP investor group”
- “Off-market tip”
- “You’ve been selected for a private investment round”
- Don’t Ignore Small Suspicious Activity
Cybercriminals often start with small amounts to build trust before initiating a larger fraud. - Don’t Send Money Based on Social Media or WhatsApp Tips
Just because someone claims to be a broker or advisor online doesn’t mean they’re legitimate. - Don’t Be Embarrassed to Speak Up
Public figures often stay silent, fearing reputation loss. But silence allows scammers to continue targeting others.