Frauds targeting senior citizens and professionals are rising, exploiting fear, trust in authorities, and rapid digitization of financial services.
BY PC Bureau
New Delhi, September 23 — In a stark illustration of the growing menace of digital frauds, a 78-year-old retired banker from South Delhi’s Gulmohar Park, Naresh Malhotra, was duped of Rs 23 crore over the course of a month after falling victim to a sophisticated digital arrest scam.
The scam began in August this year, when Malhotra received a call from a woman claiming to be a senior officer from a telecom company. She alleged that his mobile number had been used in fraudulent and illegal activities. Soon, others posing as officials from the Mumbai Police, Enforcement Directorate (ED), and Central Bureau of Investigation (CBI) contacted him, threatening him with legal action and accusing him of links to terrorist groups.
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Malhotra was forced to remain under surveillance in his home, attend video calls every two hours, and sign an undertaking to maintain secrecy. The fraudsters sent him fake legal documents, including a bail order, and threatened him with passport seizure, travel restrictions, and harm to his family to build credibility.
Between August 4 and September 4, the scammers withdrew Rs 23 crore from Malhotra’s three bank accounts through 20 separate transactions, gaining access to his bank details and investment records. As losses mounted, Malhotra approached the police. On September 19, the Intelligence Fusion and Strategic Operations (IFSO) Unit of the Delhi Police registered a First Information Report (FIR). Subsequently, funds worth approximately Rs 2.3 crore were frozen while the investigation is ongoing.
In a separate incident in Mumbai, four people, including two doctors, were booked for allegedly duping a physician of Rs 70 lakh. The fraudsters promised his daughter admission to an MBBS course at a municipal medical college under the management quota.
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Authorities warn that such scams are rising at an alarming pace, particularly targeting senior citizens, high-net-worth individuals, and professionals, exploiting fear, urgency, and trust in government institutions.
Notable Digital Fraud Cases in the Past Year
| Date | Location | Victim | Amount Lost | Modus Operandi |
|---|---|---|---|---|
| Aug-Sep 2025 | Delhi | Naresh Malhotra, 78, retired banker | Rs 23 crore | Digital arrest scam via fake telecom and government officials |
| May 2025 | Mumbai | Physician | Rs 70 lakh | Fake MBBS admission promises by “management quota agents” |
| Feb 2025 | Bengaluru | Software professional | Rs 5 crore | Cryptocurrency investment scam |
| Jan 2025 | Pune | Senior citizen couple | Rs 1.2 crore | Bank account takeover via OTP fraud |
| Dec 2024 | Hyderabad | Entrepreneur | Rs 3.5 crore | Fake tax notice scam using ED/IT department call |
Experts warn that the rapid digitization of financial services, combined with low digital literacy among seniors and high trust in official institutions, has created fertile ground for high-value scams. They advise citizens to verify any calls from supposed authorities, avoid sharing personal or banking information, and report suspicious activity immediately.
The Delhi Police have urged the public to remain vigilant, particularly against “arrest scams,” which have surged nationwide, targeting individuals with threats of legal action and promises of urgent resolution.
