Online Investment Fraud: Recently, there has been a significant rise in cyber fraud cases carried out under the guise of online investment. Fraudsters use social media, WhatsApp, and Telegram to lure people with the promise of substantial returns in a short period. Initially, they show fake profits to gain the victim’s trust; however, once the victim invests a large sum, they often find their money trapped.
In many instances, scammers use fraudulent trading apps to display an artificial increase in both the invested capital and the returns. When an investor attempts to withdraw their funds, the scammers demand additional amounts under the pretext of taxes, commissions, or other fees. Given these circumstances, it is crucial to exercise caution when investing online. Let’s look at how to identify such fraudsters.
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Beware of promises of guaranteed returns.
If someone guarantees high returns in a short time through investments in the stock market or cryptocurrency, be immediately alert. Investments in the stock market are inherently subject to market risks. Never base an investment decision solely on the promise of high returns. Scammers often claim that an individual’s capital will double or triple within a few days. Instead of trusting such claims, verify the registration details of the company or investment platform.
Stay away from suspicious WhatsApp and Telegram groups.
Cybercriminals often add people to WhatsApp and Telegram groups, claiming to offer trading tips or exclusive investment schemes. These groups frequently share screenshots of fabricated profits to convince individuals that they can earn significant money through these investments. Avoid joining any such unknown groups, and steer clear of links to fake trading apps.
What to do in case of cyber fraud?
If you fall victim to investment-related fraud, please do not delay. Call 1930 immediately. You can also file a complaint online by visiting the official website, cybercrime.gov.in. Please have all evidence ready when filing your complaint. Additionally, inform your bank immediately. Furthermore, ensure that you preserve any evidence of your interactions with the fraudsters, as well as records of any payments made.