NEW DELHI -- In August, 82-year-old S.P. Oswal was swindled out of about 70 million rupees ($830,000) by scammers.
Oswal, who is the chairman and managing director of Vardhman Group, an Indian textile maker, was convinced over a video call that he was involved in a money laundering case that required him to transfer the large sum into multiple bank accounts. The scammers used a method called "digital arrest," which involved everything from fake documents and voice modulation to the name of the Chief Justice of India to convince the industrialist that the investigation was authentic and that he needed to deposit the funds.
