Cyber Fraud: People’s interest in investing in the stock market in India is increasing rapidly. According to the National Stock Exchange (NSE) data, more than 12 crore new investors have entered the market between 2019 and 2023. Only in January 2024, more than 54 lakh people registered to join the stock market. In view of this, now the scammers have taken out a new way from which they are losing people. They grab their money by luring people big profits and investment tips. Recently, it has been seen in many cases that people have come under the guise of fake investment schemes and have been victims of cyber fraud.
How did the doctor cheat
According to a Times of India report, Coimbatore doctor Karthik had to face a cheating of Rs 15.50 lakh while looking at Stock Trading Tips on YouTube. The incident took place in December 2024, when Dr. Karthik was already investing in the stock market through his demat account. He watched a video related to a trading tips on YouTube in which tips to earn more profit were being told. After clicking on the link given in the video, his number one was added to the WhatsApp group called “49 upstocks Wealth Group”.
The fake experts present in this group assured them that they can earn a big profit from investment. After this, he was asked to download a new trading app “UP Institutions”, which was actually a source of fraud. Dr. Karthik transferred a total of Rs 15.50 lakh in 9 times between 31 December to 22 January. His balance on this app was shown to be Rs 25.86 lakh, which made him believe that his investment was increasing. When he tried to withdraw money, it was found that he had been cheated.
Police filed a case
Dr. Karthik immediately lodged a complaint with the cybercrime police. In this case, a case has been registered under the sections of the Code of India (BNS) and IT Act and the police is searching for the accused.
How to avoid cyber fraud
- Do not trust unknown investment groups found on YouTube or WhatsApp.
- Avoid downloading fake trading apps. Invest only from a government recognized platform.
- If someone claims guaranteed returns or more profits, then be cautious.
- Take information about the stock market only from authorized and reliable sources.
- If it is cheated, then complain on the cybercrime helpline immediately. The sooner you report, the more the possibility of recovering money.
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(Tagstotranslate) Cyber fraud
