Hyderabad man loses Rs 8 lakh in old currency note scam

Between September 20 and 23, he transferred more than Rs 7.9 lakh to the fraudsters.

Hyderabad: A 49-year-old private employee from Qutbiguda lost nearly Rs 8 lakh after falling for a fake scheme that promised a huge amount for an old Rs 1 currency note.

The Hyderabad cybercrime police registered a cheating case. According to the complaint, the man came across a social media advertisement on September 20, claiming an old Indian one-rupee note could be sold for Rs 45 lakh.

The victim contacted the number mentioned in the advertisement and sent photographs of the currency note along with his personal details.

The fraudsters started demanding money at different stages, reasoning the payments were needed for release fees, taxes, and RBI clearances.

Fraudster posed as DSP

The Hyderabad victim of the old currency note scam was contacted by a person who allegedly introduced himself as a Deputy Superintendent of Police (DSP) with the cybercrime police in Andhra Pradesh.

The person accused the victim of being involved in the sale of black money and threatened them with legal action.

Following the instructions, the victim made additional payments.

Between September 20 and 23, he transferred more than Rs 7.9 lakh to the fraudsters.

When they continued demanding more money, the victim realised that he had been cheated and approached the police.

Case registered against old currency note scam in Hyderabad

Hyderabad cybercrime police registered a case on Friday under Sections 66C and 66D of the Information Technology Act and relevant provisions of the Bharatiya Nyaya Sanhita (BNS).