Panchkula Software Engineer’s ₹2.34 Lakh Credit Card Fraud

Credit Card Scam Exploits Trust, Highlights Growing Threat

Sophisticated scam targeting credit card holders underscores the need for heightened vigilance.

April 22, 2025

A recent incident involving a 27-year-old software engineer serves as a stark reminder of the increasing sophistication of credit card fraud and the vulnerability of even tech-savvy individuals. Divya Sharma, an engineer, fell victim to a scam that cost her ₹2.34 lakh (approximately $2,800 USD) after trusting a phone call and subsequent WhatsApp messages. The cybercrime police have opened an examination.

The scam began on April 17 around 3 p.m.when Sharma received a phone call from someone claiming to be an ICICI bank representative. According to the complaint, the caller informed her that a “credit card protection plan” had been activated on her card incurring a monthly charge of ₹2,499 (approximately $30 USD).

The Anatomy of a Credit Card scam

Sharma stated that she had “never subscribed to such a plan.” the caller, however, insisted that the plan was a default feature linked to the credit card and that its charges would not appear immediately in her statements. The fraudster then offered to deactivate the supposed plan, sending a link to Sharma’s whatsapp number and instructing her to fill in her personal details.

Trusting the process, Sharma entered the requested details and later shared a One-Time Password (OTP) she received on her mobile device. Moments later, she was notified of a debit of ₹99,785 (approximately $1,200 USD) from her account. When she raised concerns, the caller falsely assured her that the amount had only been held temporarily and would be credited back.

the caller persuaded Sharma to share OTPs two more times, resulting in further debits of ₹35,091 (approximately $420 USD) and ₹99,875 (approximately $1,200 USD). The fraudster maintained that the entire amount would be reversed to her credit card account.

Realizing something was amiss, Sharma contacted ICICI bank’s customer care service and was informed that the total amount had been transferred to an unknown account.sharma then immediately reported the incident to the national cybercrime reporting helpline at 1930. The cybercrime police have initiated an investigation into the case, filing it under Sections 316(2) and 318(4) of the Bharatiya Nyaya Sanhita (BNS).

The Rising Tide of Credit Card Fraud in the U.S.

This type of scam isn’t isolated. In the United States, credit card fraud remains a notable concern. According to the Federal Trade Commission (FTC), in 2024, consumers reported losing over $8.8 billion to fraud, with credit card fraud being a substantial portion of that figure. The increasing sophistication of these scams, often involving phishing techniques and social engineering, makes it difficult for consumers to discern legitimate communications from fraudulent ones.

Pro tip: Always be skeptical of unsolicited calls or messages requesting personal or financial information. Verify the legitimacy of the request by contacting the institution directly through a known and trusted phone number or website.

The Nilson Report, a trade publication that covers the card and mobile payment industries, estimates that global card fraud losses could reach $49.32 billion in 2033.

Case Study: Operation Eastern Access

In a similar case prosecuted in the U.S. in 2023, the Department of Justice successfully dismantled a large-scale international credit card fraud ring known as “Operation Eastern Access.” The ring,based in Eastern Europe,used phishing techniques to obtain credit card information from U.S. residents, resulting in millions of dollars in losses. The perpetrators were eventually extradited and faced prosecution in U.S. courts.

This case highlights the global nature of credit card fraud and the importance of international cooperation in combating cybercrime.

Protecting Yourself from Credit Card Fraud

Experts recommend several steps consumers can take to protect themselves from credit card fraud:

• Be wary of unsolicited calls,emails,or text messages requesting personal or financial information.
• Never share your OTP (One-Time Password) with anyone.
• Regularly monitor your credit card statements for unauthorized transactions.
• Use strong, unique passwords for your online accounts.
• Enable two-factor authentication whenever possible.
• Install and maintain anti-virus and anti-malware software on your devices.

The FTC also provides resources for consumers to report fraud and identity theft, as well as tips for protecting themselves from scams.

the Role of Banks and Financial Institutions

Financial institutions are also playing a crucial role in combating credit card fraud. Banks are investing in advanced fraud detection systems that use artificial intelligence and machine learning to identify suspicious transactions in real-time. These systems can flag unusual spending patterns or transactions originating from unfamiliar locations, allowing banks to intervene and prevent further losses.

Moreover, many banks offer services such as transaction alerts, which notify customers of any activity on their accounts, enabling them to quickly identify and report fraudulent charges.

Did you know? Many credit card companies offer zero-liability protection, meaning you won’t be held responsible for unauthorized charges made to your account.

Counterargument: Isn’t This the Bank’s Obligation?

While banks and credit card companies bear a significant responsibility in protecting consumers from fraud, individual vigilance remains paramount. Banks invest heavily in fraud prevention, but no system is foolproof. Scammers are constantly evolving their tactics,and ultimately,the first line of defense is an informed and cautious consumer.As Divya Sharma’s case illustrates, even a tech-savvy individual can fall victim to a well-executed scam. While Sharma contacted ICICI bank’s customer care service and was informed that the total amount had been transferred to an unknown account; individual responsibility in protecting one’s financial data can’t be outsourced.

FAQ: Protecting Yourself from Credit Card Fraud

question	Answer
What should I do if I suspect I’ve been a victim of credit card fraud?	Contact your bank or credit card company immediately to report the fraud.File a police report and report the incident to the FTC.
How can I protect myself from phishing scams?	Be wary of unsolicited emails, calls, or texts. Never share personal information or click on links from unknown sources. Verify the legitimacy of requests by contacting the organization directly.
What is an OTP, and why should I never share it?	An OTP (One-Time Password) is a unique code sent to your phone or email to verify your identity. Sharing it with someone else gives them access to your account.
What are some red flags that indicate a potential credit card scam?	Unsolicited requests for personal information,pressure to act quickly,threats of account closure,and demands for payment via unconventional methods (e.g., gift cards or cryptocurrency).
How often should I check my credit card statements?	Check your statements at least once a month, or even more frequently if possible, to identify any unauthorized transactions promptly.

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Credit Card Fraud: An Interview with Cybersecurity Expert Dr. Anya sharma

Archyde News Editor sits down with Dr. Anya Sharma, a leading expert in cybersecurity, to discuss the rising threat of credit card fraud and how consumers can protect themselves.

Introduction

Archyde News editor: Welcome, Dr. sharma.Thank you for joining us today to discuss the concerning rise in credit card fraud. We’ve seen a recent case involving a software engineer and are eager to understand the nuances of these scams.

Understanding the Threat

Dr.Anya Sharma: Glad to be here. The case of Divya Sharma is a stark illustration of how sophisticated these attacks have become; they prey on trust and exploit vulnerabilities in our digital habits.

Archyde news Editor: Could you elaborate on the methods fraudsters employ? The article mentions “phishing techniques and social engineering.”

Dr. Anya Sharma: Absolutely. Phishing involves disguising oneself as a trustworthy entity to steal sensitive data. Social engineering is about manipulating individuals into divulging confidential details. In the Divya Sharma case, the scammer impersonated a bank representative and used a combination of fear and urgency, making it difficult for the victim to apply critical thinking. They exploited the victim’s understandable fear of losing money, making the request seem legitimate. The urgency is designed to bypass critical thinking and encourage the victim to react quickly, without careful consideration.

key Takeaways for Consumers

Archyde News Editor: What are the most important things consumers can do to protect themselves?

Dr. Anya Sharma: First, be incredibly skeptical of unsolicited calls, emails, or messages asking for personal or financial information. No legitimate bank or financial institution will ever ask for your OTP (One-time Password) or full credit card details via phone or online. Always verify the legitimacy of a request by calling the institution directly using a phone number you find on their official website or on the back of your credit card.second, regularly monitor your credit card statements, and instantly report any suspicious transactions.

archyde News Editor: We’ve seen the article mention the importance of strong passwords.could you expand on this?

Dr. Anya Sharma: Absolutely. Use strong, unique passwords for every online account. Avoid using easily guessable information like birthdays or names.Consider using a password manager to create and store secure passwords, also enabling two-factor authentication whenever possible, adds an extra layer of security.

The Role of Banks and Financial Institutions

Archyde News Editor: The article mentions the role of banks and financial institutions. What are they doing to combat fraud?

Dr. Anya Sharma: Banks are investing heavily in fraud detection systems, often using artificial intelligence and machine learning to identify and flag suspicious activity in real time. These systems can detect unusual spending patterns or transactions from unfamiliar locations. Banks also offer services like transaction alerts to notify customers of any activity on their accounts. Additionally, many banks have established zero-liability policies.

Staying Vigilant

Archyde News Editor: With scams becoming increasingly sophisticated, what advice woudl you give to someone who fears they have been targeted by a scam?

Dr. Anya Sharma: Immediately contact your bank or credit card company to report the fraud. Change your passwords and monitor your accounts for any suspicious activity. File a police report and report the incident to the Federal Trade Commission or your local consumer protection agency.

Archyde News Editor: Thank you,Dr. Sharma. This has been incredibly enlightening.

Dr.anya sharma: My pleasure.

Call to Action

Archyde News editor: We urge our readers, what steps are you taking to protect your credit card information? Share your strategies and experiences in the comments below.