Mumbai businessman loses Rs 1.86 crore to SIM swap fraud

In a SIM card swap fraud case, a city-based textile merchant lost at least Rs 1.86 crore, which was illegally transferred from his account by unidentified persons to various bank accounts across the country, police said Wednesday.
The incident came to light when the victim, who hails rom Mahim in Central Mumbai, approached the BKC Cyber Police Station with a complaint Friday, an official said.
According to the complaint, on the intervening night of Thursday-Friday, the textile merchant's cellphone had stopped functioning after some missed calls, he said.