Kolkata Jeweller Duped of Rs 94,000: In a striking reminder of the vulnerabilities embedded in digital payment systems, a jeweller in South Kolkata’s Santoshpur area fell victim to a sophisticated cyber scam, losing Rs 94,000 to a fraudulent customer who exploited fake bank SMS alerts. The incident has raised serious concerns among business owners and law enforcement officials about the growing threat of digital financial frauds targeting small and medium-sized retailers.
The Fraudulent Transaction: How It Unfolded
On October 7, 2025, Subir Pal, owner of NCP Jewellers, was approached by a man identifying himself as Vikram Singh. Singh selected a wristlet priced at Rs 94,000 and stated that he intended to pay online. Initially attempting a UPI transfer, Singh then claimed that there was a problem with his payment and promised that his wife would complete the transaction instead.
Soon after, Pal received an SMS alert from a six-digit number, indicating that Rs 94,000 had been credited to his bank account via IMPS. Convinced that the payment was successful, Pal handed over the wristlet to Singh. It was only later that he realized the SMS was fraudulent and the amount had not been credited, revealing the scam.
Modus Operandi: Fake Bank SMS Scams Explained
Cybercriminals are increasingly using fake bank SMS alerts to deceive business owners. These messages mimic official bank alerts, often containing realistic transaction details, sender IDs, and formatting that closely resemble genuine notifications. The scammers rely on the victim’s trust in digital banking communication and use social engineering to manipulate recipients into releasing goods or transferring funds.
Such scams have become widespread, particularly targeting retailers, small businesses, and service providers who may not immediately verify online transactions through official banking channels.
Impact on Retailers and the Local Economy
While the direct financial loss in this case was Rs 94,000, the broader implications are significant. Small retailers often operate on thin margins, and losing even a single transaction can disrupt cash flow, inventory management, and customer trust.
Local business owners are now expressing increased anxiety over online payments, fearing similar incidents. Several shopkeepers have reported delays in verifying payments during the festive season due to such scams, which not only affects sales but also undermines confidence in digital financial systems.
Law Enforcement Response
Following the incident, Pal lodged a complaint with Survey Park Police Station. The authorities have begun investigations to trace the perpetrator and analyze the techniques used to create counterfeit SMS messages. Police officials have also issued advisories to local merchants, emphasizing the importance of verifying transaction confirmations through official bank channels before handing over goods.
The West Bengal Cyber Crime Cell has highlighted that fake bank SMS scams are on the rise nationwide, with perpetrators increasingly using spoofed numbers, fake apps, and social engineering to target small and medium enterprises.
Preventive Measures and Recommendations
Cybersecurity experts advise retailers to adopt multiple precautions to protect themselves against such frauds:
- Verify Payment Directly: Confirm all digital payments using the official bank app or website before releasing goods. Avoid relying solely on SMS alerts.
- Be Cautious with SMS Notifications: Treat unsolicited transaction messages with suspicion, particularly if they request action or contain links.
- Employee Training: Educate staff to recognize fraudulent messages and to follow strict verification protocols.
- Secure Payment Methods: Utilize verified payment gateways and encourage customers to transact through reliable digital platforms.
- Immediate Reporting: Report suspicious messages or attempted frauds to local police and cybercrime authorities promptly.
The National Cyber Security Coordinator (NCSC) also recommends integrating two-step verification and transaction alerts through multiple channels to reduce the risk of fraudulent activities.
Expert Opinions
According to Dr. Kalyan Rudra, a cybersecurity consultant in Kolkata:
“Cyber frauds targeting small businesses are evolving rapidly. Fake bank SMS scams are particularly dangerous because they exploit trust in digital communication. Verification through official channels is crucial before releasing goods.”
Experts further caution that festive seasons often see a surge in digital transaction frauds, as perpetrators exploit the high volume of sales and the rush of buyers.
Broader Trends in India
This scam reflects a wider trend of online and digital payment frauds across India. With the growth of UPI transactions, digital wallets, and net banking, criminals are finding innovative methods to deceive merchants, including:
- Fake payment confirmations
- Phishing links and malware
- Social engineering and impersonation of customers or bank officials
The Reserve Bank of India (RBI) and Ministry of Electronics and Information Technology (MeitY) have both issued advisories for merchants to remain vigilant and report fraudulent activity.
Kolkata Jeweller Duped of Rs 94,000: Community and Media Reactions
The incident has sparked discussions on social media and local news platforms about the need for stronger digital transaction security. Business owners are calling for:
- Real-time verification systems for online payments
- Awareness campaigns by banks on identifying fraudulent messages
- Government support to facilitate rapid reporting and compensation in case of losses
Many local trade associations in Kolkata have initiated workshops to educate shopkeepers on cyber hygiene, phishing scams, and secure transaction practices.
Conclusion
The case of NCP Jewellers serves as a critical reminder that digital convenience comes with increased risk of fraud. As scammers evolve their techniques, retailers must remain vigilant, adopting both technological safeguards and strict verification protocols.
Cyber awareness, combined with law enforcement support and banking verification, is essential to protecting businesses and sustaining confidence in India’s rapidly expanding digital payment ecosystem.
External References:
- Reserve Bank of India: Cyber Security Guidelines
- MeitY Advisory on Cyber Security and Fraud
- National Cyber Crime Reporting Portal
Also read: Home | Channel 6 Network – Latest News, Breaking Updates: Politics, Business, Tech & More
