RBI cautions against fictitious offers of cheap fund

Shimla : The Reserve Bank of India (RBI) today cautioned the general public against fictitious offers of cheap funds from abroad, often in form of lottery prizes money, through letters, e-mails and SMS. While addressing a press conference here, Officer-in-charge of the RBI, Shimla branch R Gurumurthi said that the apex Bank was creating awareness campaign about the crime in the country. He informed that many complaints were pouring from different quarters with RBI that fraudulent communications offers form individual and trusts were being made with people alluring them for lottery winnings or remittance of funds in foreign currency from abroad or employment or scholarships which are perpetrated by certain residents and non residents. He said factious offers are generally made through letters, e-mail, and mobile phones and SMS. Apart from the typical modalities adopted in the past, the fraudsters are now resorting to issue of certificates, letters and circulars which are sent through e-mail on letterheads that look like that of Reserve Bank and purportedly signed by its top executives or seniors officials to make them appear as genuine. The fraudsters also convince the victims by impersonating as senior officials of the RBI with telephones numbers and factious e-mail Ids. Many residents fell prey to such teasing offers and lost large sums money in the process. Advising people not become pray of any such call, Mr Gurumurit informed that a case has come before RBI from Himachal Pradesh belong to Rampur area of this district as a person complaint that after depositing Rs 30 lakh in similar allurement for getting Rs 4 crore, he lost his deposit after becoming prey of crime. He cautioned the people that getting any offers from foreign and accepting it is crime under FEMA and people should not fall in any such trap while such fictitious offers are coming in rampant leaving victims hapless. Replying to a question he said after becoming victim of such offer people normally did not report or complaints to RBI and other government agencies as under law they themselves become part of crime after accepting the offer to such call and their indulgence and implications in the crime keep complaint mum.  The crime is flourishing due to lack of whistleblower as victim themselves get trap in the web of crime and threat of law forced the victim to bear the consequence on their own.

http://www.newkerala.com/news/2011/worldnews-73841.html