Real Estate Maharashtra

Maharashtra Cyber Cell Cracks ₹13.96 Cr RTGS Fraud: Property Buyers Beware

By GeoSquare News Desk · Published 2026-11-03

The Maharashtra Cyber Cell has arrested a 49-year-old Mumbai man in connection with a massive ₹13.96 crore RTGS fraud, involving 187 unauthorised transactions across 36 banks. The accused allegedly siphoned funds through fraudulent digital channels, raising serious concerns for high-value transactions, especially in the real estate sector where large sums are routinely transferred.

Modus Operandi and Impact

Investigations reveal that the accused exploited RTGS (Real-Time Gross Settlement) loopholes, executing unauthorised transfers from multiple accounts. The sheer scale—187 transactions across 36 banks—indicates a sophisticated network. For property buyers and investors, this serves as a stark reminder that even regulated banking channels can be vulnerable to cyber fraud.

Safety Measures for Property Transactions

Real estate deals often involve crores of rupees, making them prime targets for cybercriminals. Buyers should always verify bank details directly with the developer or seller through verified communication channels, avoid sharing OTPs or PINs, and use escrow accounts or legal advisors for large transfers. Additionally, enabling transaction alerts and regularly monitoring bank statements can help detect anomalies early.

The arrest underscores the need for heightened vigilance in Maharashtra's booming property market. As digital payments become the norm, both individuals and real estate firms must adopt robust cybersecurity practices to safeguard their financial interests.