In the blink of an eye, 10 years of earnings disappeared, couple lost Rs 2 crore in payment redirect scam
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What is the matter:
In May, Simon receives an invoice from his conveyancer for the initial home deposit for his Blue Mountains property. As instructed in the email, he immediately made two transfers of $274,311 (roughly Rs. 2 crores). There was no confirmation message. Contacting the Conveyors and the Real Estate Agent revealed that Simon had been scammed. Cybercriminals had intercepted the email. Invoice account details were changed. All his money was stolen.
As per the report, this is an example of payment redirection scam in which scammers impersonate as someone’s business through emails or recipients. Then they control the account and steal the money. Such scams are on the rise and $13.7 million is expected to be lost due to scams in 2022, a 95% increase over the previous year.
Simon’s money was transferred from his Westpac account to a Nab account which disappeared within hours. Getting this money back was a big challenge and Simon got back only $270.72 i.e. around Rs 22461. After much difficulty, Sain and his wife got permission to keep their house after paying a 10 per cent deposit to the real estate agent. But now he has to repay a bigger loan. He has urged the bank that they should pay more attention to the security of the customers.
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