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Fake Financial Institution in Assam's Hojai Loots Crores of Rupees from People

Sujata Mutual Benefit Fund Limited, a fake financial institution in Hojai, embezzled more than 15 crores from the people. Further police investigations are underway.

Fake Financial Institution in Assams Hojai Loots Crores of Rupees from People

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  21 Jun 2021 10:00 AM GMT


In Assam, a fake financial institution stole crores of rupees from the people.

Sujata Mutual Benefit Fund Limited is a financial organization in Hojai that was founded near the district commissioner's office in Sankardev Nagar. Pintu Devnath, a resident of the village, had founded the company in 2018 with many enticing plans, such as the money doubling in 8 or 10 months, and so on.

When the institution was unable to refund the money, eight people, including Mithun Sarkar, who had deposited money in the institution, filed a complaint on Sunday at the Hojai police station.

In connection with this, the police arrested Pintu Devnath, Sentu Devnath, and Mantu Devnath on Sunday. A case has been filed in accordance with Section 397/21.

According to agents, the agency has embezzled more than 15 crores from the people. The brothers also constructed a large building in Sankardev Nagar.

The police are doing more investigations into this incident.

TransUnion stated in a study that attempts and incidents of digital fraud have increased since the beginning of the Covid-19 outbreak, based on its latest quarterly review of worldwide online fraud trends. According to second research from the fraud data analytics start-up TrustCheckr, the eastern region of India accounted for 41% of all digital scams.

"Fraudsters are always looking to take advantage of significant world events. The COVID-19 pandemic and its corresponding rapid digital acceleration brought about by stay at home orders is a global event unrivalled in the online age," said Shaleen Srivastava, executive vice president and head of fraud solutions at TransUnion in India.

TransUnion discovered that Mumbai, Delhi, and Chennai had the greatest percentage of suspected digital fraudulent transactions in India across industries.

According to TrustCheckr, the majority of QR code frauds originate in Assam, accounting for 20% of the overall distribution.

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