FPJ Cyber Secure: Senior Railway Officer Loses ₹40 L After Falling Prey To Online Stock Market Trading Fraud

FPJ Cyber Secure: Senior Railway Officer Loses ₹40 L After Falling Prey To Online Stock Market Trading Fraud

From January 16 till March 07, the victim in 21 online transactions, invested Rs 40.20 lakh and could see his earnings of Rs 1.18 crore. However, when the victim decided to withdraw his earnings, he was asked by scammers to pay more money.

Somendra SharmaUpdated: Saturday, March 30, 2024, 10:51 AM IST
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FPJ Cyber Secure: Senior Railway Officer Loses ₹40 L After Falling Prey To Online Stock Market Trading Fraud |

Mumbai: A Deputy Chief Ticket Inspector (CTI) of Indian Railways has fallen prey to scammers who induced them to invest in stock market trading and duped him to the tune of Rs 40 lakh in a span of two months.

According to the police, the complainant is posted as Dy CTI at the Bhusawal Division. On January 07, the victim came across a link related to stock trading on Facebook. The victim clicked the said link after which he was directed to a WhatsApp group wherein it was being claimed that investors would get lucrative returns on investments in stock trading.

The scammers then shared a link of a stock trading application and a code with the victim. The victim then downloaded the app on his phone on the instructions of scammers. From January 16 till March 07, the victim in 21 online transactions, invested Rs 40.20 lakh and could see his earnings of Rs 1.18 crore. However, when the victim decided to withdraw his earnings, he was asked by scammers to pay more money.

Case FIled In The Matter Immediately

Since the victim was unable to withdraw his earnings, he realised that he had been duped, He then approached the police and got an offence registered in the matter. The police have registered a case under section 420 (cheating and dishonestly inducing delivery of property) of the Indian Penal Code and 66D (cheating by personation by using computer resource) of the Information Technology Act. The victim has provided details of the mobile numbers used by the scammers, links shared by them and the beneficiary account details to the police.

The Central Govt had recently issued an alert for citizens warning them about the scammers duping people using fake trading apps. The scammers use fake trading apps to dupe the victim by inducing them to invest in stocks by promising large profits and sharing fake profit screenshots. Last month, the Cyber Crime Police of Mumbai had registered at least eleven cases in which scammers had duped citizens collectively to the tune of Rs 4.40 crores.

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