An Indian textile baron has revealed that he was duped out of 70 million rupees ($833,000) by online scammers impersonating federal investigators and even the Supreme Court chief justice.
The fraudsters posing as officers from India’s Central Bureau of Investigation (CBI) called SP Oswal, chairman and managing director of the textile manufacturer Vardhman, on August 28 and accused him of money laundering.
For the next two days, Oswal was under digital surveillance as he was ordered to keep Skype open on his phone 24/7 during which he was interrogated and threatened with arrest. The fraudsters also conducted a fake virtual court hearing with a digital impersonation of Chief Justice of India DY Chandrachud as the judge.
Oswal paid the amount after the court verdict via Skype without realising that he was the latest victim of an online scam using a new modus operandi, called “digital arrest”.
So what is a …