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Online scams in India have been on the rise for the last few months and every now and then, a new case surfaces where a victim loses their hard-earned money. Usually, scammers in many cases pose as company officials to steal your sensitive information and misuse it. In one such recent incident, a 44-year-old woman from <keyword id="19895934" type="General" weightage="20" keywordseo="noida" source="keywords">Noida</keyword> recently fell victim to an <keyword id="20971199" type="General" weightage="100" keywordseo="esim-scam" source="Orion">eSIM scam</keyword>, losing ₹27 lakh and becoming the target of fraudulent loan activity. The scam involved the manipulation of her <keyword id="19909735" type="General" weightage="20" keywordseo="sim" source="keywords">SIM</keyword> card and banking details, which allowed the fraudster to siphon off her funds and take out a loan in her name. <h2>What exactly happened</h2> According to an HT report, <keyword id="23110017" type="General" weightage="20" keywordseo="jyotsana-bhatia" source="keywords">Jyotsana Bhatia</keyword>, a resident of Sector 82 in Noida, works at a private company and filed a complaint with the cybercrime police station in Sector 36. On August 31, Bhatia received a WhatsApp call from a person posing as a customer care executive from her telecom provider. The caller explained that her SIM card could be converted to an embedded SIM (eSIM), which is a digital version of a physical SIM card and can be helpful in case of phone loss. The suspect offered to help Bhatia activate the eSIM feature, instructing her to select the option in her mobile carrier’s application and enter a verification code that was sent to her phone. Bhatia, unaware of the fraud, followed the steps as instructed. Unfortunately, as soon as she entered the code, her physical SIM card was deactivated. The suspect assured her that a new SIM card would be delivered by September 1, leaving her temporarily without access to her mobile number. When the promised SIM card failed to arrive, Bhatia contacted the telecom provider’s customer care service and was advised to visit the service centre to get a replacement. After three days, on September 3, she was issued a new SIM card. However, by then, the damage had already been done. Bhatia started receiving messages from her bank, revealing that the fraudster had accessed her mobile banking account using her deactivated phone number. By changing the associated email ID, the suspect was able to bypass security checks and transfer large sums of money from her accounts. The fraudster also broke her fixed deposit, siphoned money from two bank accounts, and even took out a loan of ₹7.40 lakh in her name. Bhatia reported that the total amount stolen in multiple transactions amounted to ₹27 lakh. Shocked by the breach, she immediately filed an FIR with the cybercrime unit. The police registered the case under sections 318(4) (cheating) and 319(2) (cheating by personation) of the Bharatiya Nyaya Sanhita, as well as under relevant sections of the IT Act. Efforts to track down the suspect are currently underway. <h2>Understanding eSIM and its risks </h2> An eSIM (embedded SIM) is a digital version of a SIM card that is built into a device and does not require a physical card. While this technology is convenient and allows users to switch networks or plans without handling a physical card, it also opens the door to new forms of fraud. Scammers can manipulate eSIM features to deactivate a user’s existing SIM card and take control of their phone number, which is linked to various accounts and services. In this case, the fraudster exploited the victim’s trust by posing as a telecom customer care executive, taking advantage of her lack of knowledge about the risks associated with eSIM activation. Once the fraudster gained control of her phone number, they accessed her bank accounts through mobile banking applications that rely on the phone number for authentication. By changing the email ID linked to her account, they prevented the victim from receiving security alerts and were able to make unauthorised transactions without her knowledge.

Noida woman tries getting her sim card converted into e-sim, ends up losing Rs 27 lakh

In a major setback to the builders in <keyword id="18858" type="General" weightage="100" keywordseo="noida" source="Orion">Noida</keyword> and Greater Noida, the <keyword id="6354977" type="General" weightage="50" keywordseo="supreme-court" source="Orion">Supreme Court</keyword> on Monday recalled its 2020 order, capping the interest rate at 8 per cent, for the delay in payment of land cost by builders to the authorities. A bench headed by Chief Justice U.U. Lalit recalled the June 2020 order, which directed Noida and Greater Noida to cap the interest rate at 8 per cent for delays in payment of land cost by builders, instead of a steep 15-23 per cent. During the hearing, senior advocate <keyword id="224684" type="General" weightage="50" keywordseo="ravindra-kumar" source="Orion">Ravindra Kumar</keyword>, representing the Noida and <keyword id="821456" type="General" weightage="50" keywordseo="greater-noida-authorities" source="Orion">Greater Noida authorities</keyword>, had told the <keyword id="6356229" type="General" weightage="50" keywordseo="apex-court" source="Orion">apex court</keyword> that the authorities will incur over Rs 7,500 crore loss if its order capping the interest rate, at around 8 per cent, for the delay in payment of land cost by builders were to sustain. Kumar had vehemently argued that this order was not based on facts and it will financially ruin the authorities and that over Rs 7,500 crore would be gone with a stroke of the pen. "Builders will get unjust enrichment of over Rs 7,500 crore," he had submitted. Emphasising the necessity of interest on land cost, the authorities had contended that in Noida city, there is no house tax, yet it is maintaining metro services and good infrastructure, and also that not one builder came to the court after the allotment, claiming the rate of interest was very high. "No reduction in the rate of interest (for the builders) would be passed on to the home buyers," Kumar had argued before the apex court. In September last year, the authorities had urged the top court to recall its order, citing that the builders have not deposited "a single paisa" to clear their dues. In its June 2020 amid the pandemic, the top court cited the bad state of the real estate sector and the need to give impetus to such housing projects, mainly considering the plight of home buyers and as pointed out by Noida and Greater Noida Authorities that 114 plots were allotted from 2005 onwards, but most of the projects are incomplete. "We direct that rate of interest on the outstanding premium and other dues to be realised in all such cases at the rate of 8 per cent per annum and let the Noida and Greater Noida authorities do a restructuring of the repayment schedule so that amount is paid and Noida and Greater Noida authorities are able to realise the same," said the top court. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/estimated-32-lakh-weddings-till-dec-14-with-a-trade-of-rs-3-75-lakh-cr/articleshow/95352679.cms">Estimated 32 lakh weddings till Dec 14 with a trade of Rs 3.75 lakh cr</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/news/customer-protection-guiding-light-of-revamped-microfinance-regulations-says-rbi-deputy-governor/articleshow/95352941.cms">Customer protection 'guiding light' of revamped microfinance regulations, says RBI deputy governor</a>

Now Noida, Greater Noida builders have to pay up, as SC reverses order capping interest rates

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Noida woman tries getting her sim card converted into e-sim, ends up losing Rs 27 lakh

BI India Bureau

Now Noida, Greater Noida builders have to pay up, as SC reverses order capping interest rates

IANS

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