When a senior executive working with a blue-chip company suddenly quit his job and left the city with his family, leaving no information about his new location, the financial institution whose loan of over Rs1 crore he had defaulted on got worried.
When all efforts to trace him failed, the lender went one step ahead of the defaulter and hired a computer hacker to trace him.
He was finally found in Chennai, where he had started a new life.
Banking and financial institutions are increasingly hiring ‘ethical hackers’ to trace high-end loan defaulters, who log out of a city without leaving any information about their new base.
“Loan-lending institutions are increasingly adopting this practice, even though it is illegal under law. But I can say that it is a big underground business,” said Vijay Mukhi, a cyber expert associated with the Mumbai Police.
Insiders say that the hackers are paid between Rs3-4 lakh per project. They monitor a defaulter’s computer system for over 15-20 days to gather information about him through online means. They start by sending the defaulter an e-mail, which has a virus attached.
After entering the defaulter’s computer system, the virus extracts information from documents and other files saved in the system. “A lot of information can be obtained in this manner,” Mukhi said.
After entering the defaulter’s computer system, the virus extracts information from documents and other files saved in the system. “A lot of information can be obtained in this manner,” Mukhi said.
Another way is to get the defaulter’s internet protocol (IP) address by sending him an e-mail with a small picture. The moment the defaulter clicks on the picture, his IP address is revealed to the hacker.
“However, most of internet service providers (ISP) have strict rules about lending information to non-police agencies. But a vague idea of his location can be established,” said Sahir Hidayatullah, an information security consultant.
“However, most of internet service providers (ISP) have strict rules about lending information to non-police agencies. But a vague idea of his location can be established,” said Sahir Hidayatullah, an information security consultant.
Vikas Aradhye, owner of Saipratik recovery agency, said: “Once we come to know his location, it becomes easier to trace him. But a lot of hard work is still required.”
Sources in the loan industry revealed that extreme measures like hiring a hacker are taken only after other measures, including searches on social networking sites, fail.
Sources add that hackers themselves use different ways to avoid being caught on the wrong foot — in case there is a counter investigation by the police if the defaulter files a police complaint.
