Bengaluru: A 33-year-old Bengaluru resident lost ₹13 lakh after fraudsters allegedly promised to arrange a home loan by manipulating his CIBIL score, police said.
According to the FIR, Karan P (name changed), a private bank employee from Nagarbhavi, was searching online for home loan options when he clicked on a link on December 29, 2025. He was soon contacted by a man identifying himself as Gautham alias Prathap, who claimed to represent GM Fincorp.
Gautham allegedly told Karan that his low CIBIL score made him ineligible for the loan. He then offered to “manually rectify” the score through unofficial channels.
Police said such a claim is fraudulent, as there is no legitimate process through which a third party can simply override or manually alter a CIBIL score.
Between December 2025 and July 10, 2026, Karan allegedly transferred ₹13 lakh to the suspect. The payments were reportedly sought under various pretexts, including processing charges, taxes, security deposits and other expenses.
Karan filed an online complaint on September 18, after delaying the report because the suspect had allegedly promised to return the money. An FIR was subsequently registered, and police are investigating the case.
Officials suspect that other people may have been targeted through similar online loan scams.
How to Stay Safe
• Apply for loans only through verified banks and legitimate financial institutions.
• Do not pay individuals who promise to artificially improve your CIBIL score.
• Raise CIBIL-related disputes directly through official channels.
• Avoid sharing sensitive financial or personal information with unknown callers.
• Report suspected cyber fraud immediately to increase the chances of recovering the money.
