What Is Fake Accounting Scam? Know How To Stay Safe as Mumbai-Based Chartered Accountant Loses INR 1.64 Crore to Jodhpur Youth in Financial Scam

Mumbai, February 25: Every day, a new type of scam is emerging across the country. Fraudsters employ advanced tactics such as call merging, QR code fraud, screen sharing, etc., to dupe people. In the latest fraud, a 59-year-old Chartered Accountant from Mumbai's Dadar was allegedly duped of INR 1.64 crore in a fake accounting scam. The scam was orchestrated by a youth from Rajasthan's Jodhpur, leading to the Bharat Dhanji Gala.

The victim, a Chartered Accountant by profession, was allegedly lured by Mohammad Akram Abdul Sattar (25) with promises of high-value accounting contracts in reputed companies. However, Gala fell victim to the financial scam as the accused failed to deliver on his promises. The scam began in January last year when Sattar visited Gala's office in Dadar East. The accused, who posed as a company secretary from Jodhpur, claimed to have strong connections with businessmen Praful Patel and Ravi Jain.슬롯 머신 사이트 추천Scam Without OTP: How Scammers Commit Online Fraud Without Requiring OTPs and Ways To Protect Your Bank Account.

Scam Began in January After Accused Visited Victim's Office

In his complaint, Gala said that the accused told him that his connections could secure him large-scale accounting projects. To prove his point, Sattar also introduced a "fictional" associate named Ashish Agarwal to Gala. The accused told the Dadar-based CA that Agarwal was a prominent businessman from Jaipur. Gala was also informed that Agarwal required a Chartered Accountant for registration GST filings and other services as he was setting up new companies due to a family property division.

Lured by the lucrative opportunity, Gala paid INR 1,64,56,944 to several bank accounts provided by Sattar. The transactions were reportedly done via online banking, Google Pay and other digital payment methods. It is learned that to arrange the money, Gala took loans, maxed out his credit cards and even borrowed money from friends and relatives. However, Gala's financial situation deteriorated when creditors demanded repayment.슬롯 머신 사이트 추천What is a Work-From-Home Scam? Know How to Spot and Avoid This Remote Job Fraud?

When he asked Sattar for his money, the accused told him that repayments would commence on September 23, 2024. The accused also promised to give six cheques of INR 20 lakh each and a written undertaking of INR 45 lakh by September 30, 2024. However, neither the cheques nor the promised funds came through. The situation escalated when Sattar misbehaved and used abusive language with Gala's wife, who contacted him for repayment.

What Is Fake Accounting Scam?

Realising he was cheated, Gala approached the police and lodged an FIR against Akram. While cops are probing the matter, it's important to know what a fake accounting scam is. In simple words, a fake accounting scam can be understood as a financial fraud where fraudsters promise accounting contracts or projects to the victim by posing as company officials or secretaries. In this type of scam, scammers promise accounting projects but fail to deliver the same in order to dupe the victim.슬롯 머신 사이트 추천What Is Online Insurance Scam? Know How To Stay Safe as Mumbai Woman Loses INR 1 Lakh to Fraudster Posing As SBI Life Official.

How To Stay Safe?

To stay safe from financial scams and fake accounting fraud, refrain from entertaining those posing as company secretaries and officials. Always cross-check the individual's credentials and do a background check of the so-called company or businessman whose accounting projects have been promised to you. Refrain from falling victim to lucrative opportunities and paying fraudsters to get business.

(The above story first appeared on LatestLY on Feb 25, 2025 05:45 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).