Kerala man loses Rs 4 lakh in fake banking app fraud

KOCHI: The police have launched an investigation into the incident in which fraudsters siphoned off Rs 4 lakh from a Kozhikode native using a fake mobile banking app.

The officials said the stolen money was part of a loan that the victim, who resides in Nedumbassery and works in a company in Angamaly, had withdrawn from his Provident Fund (PF) for his wife’s delivery and the construction of their house. As per the police, the victim received a text message, claiming to have been sent from his bank, with a link to install an APK file. The victim, believing it to be the bank’s official platform, entered his banking credentials.