Trick 5- Theft through Fake Gold Loan Schemes
- Fraudsters pretend to be bank representatives offering gold loans with attractive terms.
- They collect gold ornaments from victims under the guise of loan appraisal.
- Fake loan receipts are issued, tricking victims into believing the loan is approved.
- After taking the gold, the fraudsters vanish, leaving victims without loans and without their valuables.
5. Loan Fraud via Unauthorized Gold Loan Approvals (2024)
Steps of the Fraud:
- Impersonation of Bank Officials:
- Fraudsters contacted individuals, posing as bank officials offering gold loans with attractive terms.
- Collection of Gold Ornaments:
- They arranged for the collection of gold ornaments from victims’ residences, under the pretense of appraising them for loan approval.
- Issuance of Fake Loan Receipts:
- Victims were provided with counterfeit loan receipts and agreements, assuring them of loan disbursal.
- Non-Disbursement of Loans:
- After collecting the gold, the fraudsters failed to disburse the promised loan amounts.
- Disappearance of Fraudsters:
- Attempts by victims to contact the fraudsters were unsuccessful, leaving them without their gold and the anticipated loans.