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Cops Bust Gift Card Scam, Arrest Two | Ahmedabad News | #phishing | #scams | #hacking | #aihp

Ahmedabad: Two persons, who were operating a lending club, have been arrested for cheating American citizens on the pretext of increasing their credit score for loans.
P B Shrimali, sub-inspector of cybercrime cell who filed a complaint, said, “Acting on a tip-off, we raided Sharan Circle building and found Saurabh Verma and Tikam Vaishnav operating a lending club.”
The complaint stated that they had leads on American citizens interested in getting loans. “The duo would call the targets using a video call app, offering loans. Then, they would tell the target that the loan has been approved but the amount cannot be transferred as their credit score was low. The two would offer to help the targets increase their score by 700 points so that the loan could be processed. To increase the score, they would ask the targets to buy gift cards from certain stores. Once this is done, they ask the victims for the gift card number and any sort of security code that’s present on the card. With this, the two could encash the cards,” the complaint stated.
During a search of the premises, the police found various files with information about the American citizens.
The cybercrime police on Saturday registered a case of cheating, breach of trust, and impersonation.

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