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Cyber fraudsters dupe two Mumbai residents of Rs 64.94 lakh in twin fake trading scams
Updated On: 14 May, 2026 11:03 AM IST | Mumbai | Aishwarya Iyer
Victims drawn into share trading scams; SBI staffer loses Rs 41.52L, private tutor loses Rs 23.42L
Representation picture
A 78-year-old retired State Bank of India (SBI) bank employee from Mulund and a 31-year-old private tutor from Kanjurmarg allegedly lost a combined Rs 64.94 lakh in two similar cyber fraud cases that exposed the growing sophistication of fake online investment rackets operating through WhatsApp groups, fabricated trading dashboards, and multiple beneficiary bank accounts.
Police believe the fraudsters used social media platforms and messaging apps to identify and groom victims.Both FIRs were registered on Tuesday.
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