FPJ Cyber Secure: Woman Loses ₹4.48 Lakh To Online Stock Fraud In Kashimira

FPJ Cyber Secure: Woman Loses ₹4.48 Lakh To Online Stock Fraud In Kashimira

Once the complainant clicked the link she was directed to an unknown WhatsApp group where she was lured to invest by offering free trading tips to buy and sell stocks.

Suresh GolaniUpdated: Saturday, March 16, 2024, 05:48 PM IST
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Woman Loses ₹4.48 Lakh To Online Stock Fraud In Kashimira |

Mumbai: A 38-year-old woman from Kashimira became the latest target of cyber-fraudsters who duped her of more than Rs 4.48 lakh under the guise of offering tips which could be used to reap lucrative profits in stock trading.

In her complaint to the police the woman stated that she came across a reel posted on a social media platform related to share trading. Once the complainant clicked the link she was directed to an unknown WhatsApp group where she was lured to invest by offering free trading tips to buy and sell stocks.

While interacting with one of the admins on her personal WhatsApp number the woman was asked to install a trading application provided by the fraudsters for earning huge profits.

The woman fell prey to the evil designs of the fraudsters and transferred a total of Rs.4,48,115 to specified bank accounts via seven transactions within a span of one month between 6, February to 4, March, this year.

Although the application displayed that her investment had fetched a profit of nearly Rs.6 lakh, the complainant was unable to withdraw the money. She contacted the admin who told her that the withdrawal was possible only if she pays 20 percent towards commission.

When the complainant refused, her number was blocked and she was removed from the group. Realising she was cheated, the woman registered a complaint with the Kashimira police, following which an offence under the relevant sections of the IPC and Information Technology Act was registered against the cyber crooks on 12, March. Further investigations were on.

The MBVV police has been advising citizens not to click on unsolicited links, share personal details like one-time passwords (OTP) and refrain from conducting financial transactions with strangers who have been floating fake investment schemes on the platforms of social networking sites. 

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