Staff Reporter
Guwahati: Elaborate scams involving the sale of old currency notes and coins have been making the headlines in recent times, with victims losing lakhs instead of gaining any profit as claimed by the scamsters.
Most of the scams originate on social media platforms. Online browsers, intrigued on learning that old currency notes and coins fetch huge amounts, contact those posting the ads. They are then taken on a ride by these people, ending in them losing huge amounts of money instead of making the promised profits as these are elaborate hoaxes. This is happening on a regular basis across the country.
These incidents usually start off after a person comes across an enticing ad promising huge amounts of money for old notes and coins. One such person is a staffer of this newspaper. He came across such an ad and uploaded a few photos of old notes and coins. Immediately afterwards, he received offers ranging from Rs 65 lakh to Rs 88 lakh for the sale of these notes and coins. He was also sent a set of instructions from the firms, detailing the process to be followed. This included a photo of his Aadhaar card, a selfie picture, and form fees of Rs 1150 from his Google Pay, PhonePe, or Paytm account. He was also promised a 24-hour delivery time with 100% home delivery, cash on delivery of the notes/coins, and a home visit by a company team. He was told that registration was compulsory.
He was skeptical of the huge amounts offered and checked online. That is when he came to know that countless people have been duped of their hard-earned money in such offers, which he learnt were elaborate frauds. Coming across an advisory from the law enforcement agencies on such offers, he refrained from proceeding any further.
However, a Mangaluru man recently lost Rs 58 lakh in such an elaborate online fraud while attempting to sell old coins. According to the victim, he was browsing Facebook at home when he came across an advertisement offering to buy old coins at high prices. Having a number of old coins, he contacted the WhatsApp number in the ad and sent photos of the coins. After reviewing the images, the scammers claimed they were willing to purchase the coins for Rs 49 lakh but required an initial Rs 750 for RBI registration.
Being a trusting man, the complainant transferred Rs 750 via UPI the same day. Following this, he received several WhatsApp messages requesting additional payments under various pretexts, including GST processing, insurance, TDS, GPS fees, ITR fees, and an RBI notice fee. The victim transferred big amounts through RTGS, NEFT, and UPI as instructed.
When the victim began to question the legitimacy of the deal, the caller became aggressive and threatened him. The victim then received numerous calls and WhatsApp messages from three different numbers, demanding money. In total, the man lost Rs 58 lakh to the scammers. He then lodged a police report.
A police source gave several tips on staying safe and avoiding such scams. The source advised to always verify the authenticity of advertisements and the credibility of the people behind them. Legitimate buyers of old currency will not ask for advance payments, he said.
Also, to avoid advance payments and be wary of anyone demanding money upfront for handling fees, tax issues, or other reasons.
To conduct thorough research before engaging in any transaction involving old currency. Also to consult financial experts or banking authorities for guidance, if in doubt.
In case of encountering or falling victim to a scam, one should report it immediately to the police and cybercrime authorities, the source added.
Also Read: Guwahati: Online Trading Scamster Arrested by CBI in Delhi
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