Large banking fraud reported in Kasarvadavali; accused posed as NPCI officials
THANE, MH — A 52-year-old resident of Thane lost ₹1.46 crore after allegedly being duped by two men who pretended to be officials of the National Payments Corporation of India (NPCI), Kasarvadavali police said on Saturday.
According to the police, the complainant told officers that the suspects — named in the FIR as Sandeep Sharma and his assistant Raviraj Shukla — contacted him between 5 September 2024 and 11 August 2026 with promises to secure a refund of his policy premium and to arrange high-return investments. The duo posed as an "NCPI manager" and an assistant, the FIR recorded by police said.
Modus operandi: multiple transfers, repeated pretexts
The accused allegedly used a sequence of pretexts to obtain transfers from the victim, the Kasarvadavali police official said. These included demands for registration fees, NPCI-related charges and stamp duty. The complainant was instructed to transfer funds via WhatsApp to several bank accounts over an extended period.
- Timeframe of alleged fraud: 5 Sept 2024 to 11 Aug 2026
- Total amount transferred by victim: ₹1.46 crore
- Sections invoked: section 318(4) of the Bharatiya Nyaya Sanhita (cheating) and provisions of the Information Technology Act
“A case has been registered and the matter is under investigation,” the Kasarvadavali police said, while adding that no arrests have been made so far.
Financial and civic implications for Thane residents
The case highlights two recurring concerns for urban Thane — targeting of older residents through impersonation of reputable institutions, and use of messaging apps like WhatsApp to coordinate fraudulent transfers. NPCI is widely trusted because it manages key retail payment systems in India; impersonation of its officials can undermine public confidence in digital payments if such incidents are not promptly addressed, local consumer activists said in earlier similar matters.
Victims of such schemes often face difficulty in reversing transfers once funds are dispersed across multiple accounts and banks. The Kasarvadavali police report shows the suspect accounts were used repeatedly, a tactic that complicates immediate recovery.
| Item | Details |
|---|---|
| Victim age | 52 years |
| Alleged suspects | Sandeep Sharma, Raviraj Shukla |
| Amount lost | ₹1.46 crore |
| Police station | Kasarvadavali |
| Legal provisions | Section 318(4) BNS; IT Act |
What police and residents should note
Police said the investigation is ongoing and that no arrests have been made so far. The FIR records indicate the accused asked for multiple transfers to different bank accounts — a common red flag in financial frauds. Residents and banks are advised to:
- Verify any unsolicited calls or messages claiming to be from payment system bodies by calling official numbers listed on government or NPCI websites;
- Refuse to make transfers on instruction of a caller without independent verification, especially where pressure tactics or urgent demands are used;
- Report suspected scams immediately to local police and file complaints with the bank to seek a stop or tracing of the funds.
The Kasarvadavali police registered the case under the relevant cheating and IT provisions after receiving the complaint, the official said. Further details on the probe and any subsequent action will be made available as the investigation progresses.
Residents in Thane suburbs such as Kasarvadavali, Kalwa and Mumbra have in recent years been the focus of several cyber and banking-related fraud reports, prompting local citizens' groups to call for enhanced public awareness campaigns on digital-payment safety.
The incident underlines the need for vigilance when dealing with unfamiliar callers and reinforces the importance of secure communication practices for older and digitally novice residents in the city.
