A businessman from Bengaluru landed in trouble when a whopping Rs. 45.7 lakh was siphoned off from his company's bank account after the fraudsters deactivated the proprietor's mobile number on Monday, January 6. The miscreants also hacked the net banking credentials of the victim's firm. 

(PICTURE FOR REPRESENTATION ONLY) Hackers steal your user id and password, and later use it to lock or unlock your Apple device.Reuters

TV Jagadeesh, a Bengaluru based businessman, runs a firm named Creative Engineers which manufactures mineral-processing and slurry-pumping machinery at Hegganahalli. The company's chief and his wife, who live in Bengaluru's Vijayanagar, registered a cyber fraud complaint at Vijaynagar police station on Wednesday, January 8.  

Here's how the businessman lost Rs 45 lakhs

On Saturday, January 4, Jagdeesh's the owner of the sim realised his sim was not working. On a Sunday morning, January 5, he raised a complaint with the sim company's customer care. They asked him to replace it with a new sim card. The sim was a corporate sim hence an official request letter was required. 

Money rupee

Eventually, when the Jagdeesh and his wife were trying to access their firm's bank account on Tuesday, they found out that the credentials were changed. They contacted their respective bank and were taken aback when they found that a whopping sum of Rs 45.7 lakh was transferred from their current account. The money was transferred in five different branches within 30 minutes on Monday, January 6.  

The couple registered a cyber fraud complaint at Vijaynagar police station on Wednesday, January 8. According to the police, the accused must have deactivated the sim card after hacking the owner's email account to generate a replacement request. They would have hacked the firm's banking credentials.

The police registered a case in the matter under relevant sections of the Indian Penal Code. Further probe in the matter is underway.