Bengaluru: What seemed like a convenient solution to pay overseas university fees quickly turned into an expensive mistake for a parent, who lost Rs 2 lakh to online fraudsters posing as intermediaries.According to a complaint filed by Navya (name changed), 40, a resident of Lingarajapuram in east Bengaluru, her daughter is a first-year student at a university in Russia. While trying to pay the second-semester fees, Navya began searching online for intermediaries, on her daughter’s suggestion. She came across individuals claiming to be forex brokers who promised a smooth, hassle-free payment service. They assured her that they would convert Indian currency into Russian roubles and transfer the fees directly to the university.To make the offer even more tempting, the accused claimed that if Rs 2 lakh was transferred to their account, they would not only complete the payment but also provide an additional benefit of Rs 15,000. With several students allegedly using this route, Navya’s daughter urged her to proceed with the method.Trusting their claims, Navya transferred Rs 2 lakh on Feb 16 in two NEFT transactions of Rs 1 lakh each to an account under the name of ‘Krushi Kalyan Agro Tech’ in Maharashtra, as instructed by the fraudsters. They promised that the entire process would be completed within a month.However, weeks passed with no confirmation of fee payment. Despite repeated attempts to contact the intermediaries, there was no response. Realising she had been cheated, Navya approached Banaswadi police and filed a complaint. A case has been registered under the Information Technology Act and probe is under way, a senior officer said.Scam on the riseCybercrime officials warned that such scams — targeting Indian students studying abroad and their parents trying to pay college fees — are surging.Fraudsters, posing as forex brokers, actively post advertisement reels on Instagram and other social media platforms, while also circulating links through WhatsApp. They lure victims with highly attractive exchange rates and convincing communication tactics, making them appear even more professional than genuine agents.Officials urged the public to trust only authorised forex agents for currency conversion. Visiting offices in person and making transactions directly is strongly recommended to avoid falling prey to such frauds.Parents can also choose safer alternatives such as exchanging currency through verified brokers and transferring roubles directly to students or using CloudPayments backed by Russian banks.BOXHow to identify scammers* They usually offer significantly lower exchange rates * Are highly convincing and overly professional in communication* Exert pressure to make immediate transfers citing deadlines* Use mule accounts to receive payments* There will be delays & excuses in completing the processIf you come across such suspicious ads or fall victim to these scams, report the incident immediately by calling the cyber helpline 1930 or contacting your nearest police station.
