Real Estate Maharashtra

Maharashtra Cyber Fraud: ₹13.96 Crore RTGS Scam Hits Property Deals

By GeoSquare News Desk · Published 2026-11-03

A 49-year-old Mumbai man has been arrested by Maharashtra Cyber for his alleged involvement in a ₹13.96 crore RTGS fraud, which involved 187 unauthorised transactions across 36 banks. The case highlights a growing threat to property buyers and investors who increasingly rely on digital payments for high-value real estate transactions.

How the Fraud Worked

According to investigators, the accused manipulated banking systems to redirect funds meant for legitimate purposes, including property purchases. Such scams often target individuals making down payments or final settlements via RTGS, where large sums are transferred quickly. In many instances, fraudsters intercept payment instructions or use phishing to gain access to bank credentials.

Impact on Real Estate Transactions

Real estate deals in Maharashtra, especially in Mumbai and Pune, involve crores of rupees. Cyber fraud can lead to complete loss of funds, delayed transactions, and legal complications. Buyers and sellers must exercise extreme caution when transferring money for property, as recovery of funds in such cases is often difficult and time-consuming.

Protecting Yourself in Property Deals

Always verify bank account details directly with the counterparty through a trusted phone call or in-person meeting before initiating any RTGS or NEFT transfer. Use escrow services or lawyer-trusted accounts for large payments. Never share OTPs, passwords, or banking details over email or phone. Additionally, check for any unusual activity in your bank account regularly and report suspicious transactions immediately to your bank and the cyber cell.

For property buyers, it is advisable to conduct due diligence on the developer or seller and ensure all agreements are legally vetted. Digital payments should be made only after confirming the authenticity of the receiving account. In case of any fraud, file a complaint with the local police and the Maharashtra Cyber cell at the earliest to increase chances of recovery.