A Mule arrested in Mumbai for Phishing Fraud

Mumbai Police have arrested a person in Delhi and charged him for the phishing fraud in Bank of Maharashtra, Mumbai where a Cooperative Bank (Deccan Merchant Co operative bank)had lost Rs 1.5 crores.

The arrested person is one of the several mules who have been used in the fraud and has reportedly received around Rs 4-5 lakhs.

In this case it is also stated that Rs 89 lakhs were recovered due to timely action by the Bank stopping the withdrawals.

Hope the Bank takes up the balance amount of loss and provides relief to the client.

(Article in TOI)


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About Vijayashankar Na

Naavi is a veteran Cyber Law specialist in India and is presently working from Bangalore as an Information Assurance Consultant. Pioneered concepts such as ITA 2008 compliance, Naavi is also the founder of Cyber Law College, a virtual Cyber Law Education institution. He now has been focusing on the projects such as Secure Digital India and Cyber Insurance
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