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Trying to sell 786 series Rs 100 note, 25 paise coins online, Mumbai woman loses Rs 8 lakh

A cyber fraudster allegedly convinced the Mumbai woman to send money for various fees but after making the payments, she was unable to contact the person again.

The woman said she began communication with a person and sent photographs of the currency she had.The woman said she began communication with a person and sent photographs of the currency she had. (File photo/Canva)

A 49-year-old woman from Mumbai allegedly lost Rs 8 lakh to a cyber scam promising high returns for trading vintage currency or coins in unique series last month. As per the woman’s police complaint, on July 8, she saw an advertisement on a social media platform seeking vintage coins and notes in peculiar series. The woman claimed that she had a currency note in the 786 series and 25 paise coins, and messaged the number mentioned on the advertisement.

The woman said she began communication with a person and sent photographs of the currency she had. The person on the other end allegedly told her that he would pay Rs 8 lakh for each of the Rs 100 notes and the 25 paise coins she had.

She said she agreed, and the accused told her that first she would have to send some money to begin the process. Between July 12 and 14, citing various reasons from GST payment to late payment fee, the accused allegedly made the woman pay Rs 8.46 lakh and claimed that he would later return the amount to her.

After making the payments and not seeing any credit, the woman, as per her complaint, tried to contact the accused using the mobile number she had. She said she found that the number had been switched off. She then attempted to reach the accused at three other numbers, but none of them responded, she claimed.

After realising that she had been deceived, the woman, earlier this week, approached the Pydhonie police station to get a First Information Report (FIR) filed against the unknown accused. A police officer said this is a common cybercrime tactic, where the perpetrators use advertisements promising high returns on investments to lure victims.

Why serial number 786 is considered special

Currency notes that bear the serial number 786 are often regarded as valuable because of their significance in Islam. The number 786 is believed to represent the phrase “Bismillah-ir-Rahman-ir-Rahim”, which translates to “In the name of Allah, the Most Gracious, the Most Merciful”. This connection makes the number to be perceived as lucky and auspicious.

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