In a major crackdown, Lucknow police have dismantled a cyber gang responsible for defrauding Dr. APJ Abdul Kalam Technical University (AKTU) of Rs 120 crore, as per an ANI report. The gang used fake email IDs to transfer the funds from AKTU's State Bank of India account to a newly opened savings account at Union Bank of India.
The scheme was orchestrated by the gang's mastermind, who impersonated AKTU's Chief Account Officer to facilitate the transactions. According to Deputy Commissioner of Police (DCP) East, Prabal Pratap Singh, the fraudulent funds were transferred to Shree Shraddha Education and Charitable Trust in Ahmedabad. The police have successfully recovered Rs 119 crore of the stolen amount, and efforts are ongoing to reclaim the remaining funds.
The suspects involved in the case have been apprehended and are set to appear in court. The police emphasized the severity of the fraud, which involved sending emails from fake IDs, presenting themselves as authorized representatives of AKTU, and using counterfeit authority letters and KYC forms to open a bank account.
The Lucknow Police shared details of the operation on their official social media handle, X (formerly Twitter), highlighting the arrest of seven cyber criminals who played a key role in the fraud. This incident underscores the importance of cyber fraud awareness, as the gang was able to exploit email and identity verification systems to execute their scheme.