New Delhi. Online stock investment scams are rampant in India. In the last few months, hundreds of people across the country have fallen prey to these scams and have lost lakhs. In a recent case, a trader in Jayanagar, Bengaluru, was subjected to a major cyber crime incident, causing a loss of Rs 5.2 crore. The trader is 52 years old and was new to the stock market. He was duped by unknown fraudsters into downloading a fake app and transferring money under the guise of high-return investments.
According to a TOI report, the victim’s troubles reportedly began on March 11 when he received a WhatsApp message promising lucrative returns in the stock market. The message included a link asking him to download an app from ‘bys-app.com’. Initially, he ignored the message and did not click on the link provided, but was later added to a WhatsApp group named ‘Y-5 Ever Core Financial Leader’, which had around 160 members. The victim trader kept ignoring it.
However, when there was no response from the victim, the scammers started calling him continuously from unknown numbers and requesting him to download the app through the link provided. The victim was initially hesitant, but he believed it. Once he downloaded the app, the fraudsters offered him various investment opportunities and multiple accounts to transfer money to. They assured the victim that these funds were being invested in the stock market. However, all these accounts were controlled by the fraudsters and the ‘investments’ were nothing more than a ploy to steal the victim’s money.
By April 2, convinced by the scammers’ false assurances, the victim transferred about Rs. But when he attempted to withdraw a part of his alleged profits or the original investment for further trading, the scammers refused. Eventually, the victim realised that it was all just a scam. Later, he filed an FIR and a case under the IT Act and the authorities are currently investigating the matter. One should always be cautious and avoid downloading apps from unauthorized sources.
Tags: Tech news, Tech news hindi, WhatsApp Features, Whatsapp
FIRST PUBLISHED : April 24, 2024, 17:52 IST