Mumbai: Retired Lalbaug banker loses Rs 20 lakh in 90-minute cyber fraud

Updated On: 17 December, 2025 08:44 AM IST | Mumbai | Aishwarya Iyer

Says he didn’t share OTPs with fraudster, phone hacked to fulfil transactions

Listen to this article :

Illustrations/Uday Mohite

In just 90 minutes, a 67-year-old retired banker from Lalbaug was cheated of Rs 20 lakh, after cyber fraudsters posing as bank officials lured him into a fake KYC verification and account upgrade process, the police said. According to the police, the caller claimed to be a senior officer from the same bank where the victim had worked before retiring as head credit cashier.

The victim found that his mobile phone had been factory reset after the call. REPRESENTATION PIC/ISTOCK