In a shocking case of cyber fraud, Armenian authorities have uncovered a sophisticated scheme that left three citizens nearly $6,500 poorer. The Investigative Committee of Armenia reports that a 38-year-old man has been charged with orchestrating this elaborate digital heist, Report informs referring to Armenian media.

The suspect, whose identity remains undisclosed, allegedly posed as a bank employee in a series of phone calls made between 2021 and 2022. Using social engineering tactics, he managed to extract sensitive information from his victims, including passwords to their iDram electronic wallets. After that, he received loans online in various amounts to the specified persons, sent them to electronic wallets and cashed out the money or placed bets.

In addition, having gained access to electronic wallets, he stole 1.9 million drams (almost $5,000) from one of the citizens.