Recently, a trader from Puttur in Dakshina Kannada district of Karnataka was defrauded of Rs 56.7 lakh in greed for higher returns. In fact, the scammers gave the merchant certain tasks to complete on YouTube.
In exchange, small payments were also made to his bank account. Seeing the income he was earning without doing much work, the person became greedy. After that, the scammers, having taken the trader into trust, added him to a Telegram group, in which he was asked to deposit money, luring him with a commission. The claim was that this investment would give returns many times higher than any FD, mutual fund or share market.
The victim succumbed to greed and invested Rs 56.7 lakh from different bank accounts. After that, the scammers stopped contacting him. The scammers stole all his money. The victim trader filed a complaint with the cybercrime and narcotics police (CIN). Then, somewhere, this fraud was exposed.
Nowadays, new methods of cyber fraud are emerging. Cybercriminals use investing and trading apps the most to trick people. We must be vigilant and careful with them.
So let’s talk today in important news about what is online investment scam? You will also learn that-
How to identify it? How to avoid such scams?
Expert: Rahul Mishra, Cyber Advisor (Uttar Pradesh Police)
Question: What is online investment scam?
Answer: Fraudsters are inventing new ways to make ordinary people victims of cyber fraud. For this, social media platforms like Telegram, WhatsApp or Instagram are widely used. Scammers first add people to unknown groups to scam them. After that, fake websites lure people with huge returns by investing online in stocks, shares or real estate.
In the beginning, to gain people’s trust, they also give good returns, which makes everything seem worthwhile. But when people become greedy and invest huge amounts, scammers exclude them from the group.
Apart from this, scammers clone the websites of verified companies, which makes the return amount appear several times higher, but everything is fake. The balance shown on the website never reaches your bank account. These scams seem so credible that even professionals can fall victim to them.
Question: How can we identify investment scams?
Answer- Cyber advisor Rahul Mishra says that scammers, in order to trap people, claim that one can earn money very quickly without any risk. Students or people who earn extra money through side hustles often fall for this type of scam because they have less knowledge and understanding of online investing methods than professionals. To recognize this fraud method, keep in mind the things given in the pointers below.
You are added to an unknown group whose members are all new. Group members share screenshots of investment returns, which are mostly fake. If an investment company promises very high returns, it could be a scam to trap you. If you are tempted to double your money very quickly, be careful. he. Scammers say things like this to trick people. These are fake apps and fake websites. Scammers pressure people to invest money quickly. For this, they also attract with offers or cashback via continuous calls or messages. Fake investment sites have no authenticity. Their terms and conditions are unclear. Therefore, please check whether the website where you are investing money is secure or not. If you don’t have information about any company, don’t invest in it. Often, scammers create fake businesses to trick people, which have no authenticity. The names of these companies are visible only on the website or application.
Question: How can you protect yourself from investment scams?
Answer – As India is moving from a saving country to an investing country, the cases of investment scams are also continuously increasing. Whether through phone calls, social media, or fake online trading platforms, these scams can drain your savings before you even realize anything is wrong. To avoid this type of scam, it is very important to take some precautions.
Question: How safe is online investing?
Answer: There is no problem in investing online. He is completely safe. The only question is whether you invest online through a valid bank or financial company or fall for a fake scammer. So it is very important to be careful. Each type of investigation must be carried out before making any transaction. For this, you can also get help from professional investors.
Question: What kind of precautions should be taken when investing online?
Answer – In today’s era, online trading or investing has become a popular method. However, it is important to take some precautions. Such as-
Always deal with intermediaries registered and authorized with the Securities and Exchange Board of India (SEBI). Get complete information about the intermediary and the investment methods they offer. Ignore rumors or advertisements that promise huge returns. on investment. Before investing money, read all documents carefully. If something is confusing, clarify it first. Invest only after doing adequate research and information about the company. Know where your money is being used. Check that your money is not invested in illegal activities. In the event of a sudden rise in stock price without a major change in the company’s strategy.
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