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- Karnataka Shopkeeper Online Investment Scam Case; How To Identify Cyber Fraud And Prevention Tips. A shopkeeper in Puttur in Dakshina Kannada district of Karnataka became a victim of fraud of Rs 56.7 lakh in the greed of higher returns. Actually the scammers gave the shopkeeper some tasks to complete on YouTube.
7 minutes agoAuthor: Sandeep Singh
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Recently, a shopkeeper in Puttur in Dakshina Kannada district of Karnataka became a victim of fraud of Rs 56.7 lakh in the greed of higher returns. Actually the scammers gave the shopkeeper some tasks to complete on YouTube.
In return, small payments were also made to his bank account. Seeing the income he was earning without doing much hard work, the person got greedy. After this, the scammers, after taking the shopkeeper into their confidence, added him to a Telegram group, in which he was asked to deposit money by luring him with a commission. The claim was that this investment would give many times the returns compared to any FD, mutual fund or share market.
The victim succumbed to greed and invested Rs 56.7 lakh from different bank accounts. After this the scammers stopped contacting him. Scammers stole all his money. The victim shopkeeper lodged a complaint with the Cyber Economic and Narcotic Crime (CIN) police. Then somewhere this fraud came to light.
These days new methods of cyber fraud are emerging. Cyber criminals are using investment and trading apps the most to trap people. There is a need to be alert and cautious about them.
so let’s go today news of need I will talk about what is online investment scam? You will also learn that-
- How can we identify it?
- How can one avoid such scams?
Expert: Rahul Mishra, Cyber Advisor (Uttar Pradesh Police)
Question- What is online investment scam?
answer- Scammers are inventing new ways to make common people victims of cyber fraud. For this, social media platforms like Telegram, WhatsApp or Instagram are being used extensively. Scammers first add people to unknown groups to defraud them. After this, fake websites lure people with huge returns by investing online in stocks, share market or real estate.
In the beginning, to win people’s trust, they also give good returns, which makes everything seem valid. But when people get greedy and invest huge amount, scammers throw them out of the group.
Apart from this, scammers clone the websites of verified firms, due to which the return amount appears many times higher, but everything is fake. The balance shown on the website never reaches your bank account. These scams look so credible that even professionals can fall victim to them.
Question- How can we identify investment scams?
answer- Cyber advisor Rahul Mishra explains that scammers lure people into their trap by claiming that you can earn money very quickly without any risk. Students or people earning extra money through side business often fall into this type of scam because they have less knowledge and understanding of online investment methods compared to professionals. To recognize this method of fraud, keep in mind the pointers given below.
- You are added to an unknown group whose members are all new. Group members share screenshots of investment returns, most of which are fake.
- If an investment firm promises very high returns, it may be a scam to trap you.
- If you are tempted to double your money too quickly, be careful. Scammers say things like this to trap people. These are fake apps and websites.
- Scammers pressure you to invest money quickly. For this, they also lure with offers or cashback through continuous calls or messages.
- Fake investment websites do not have authenticity. Their terms and conditions are not clear. Therefore, please check whether the website through which you are investing money is secure or not.
- If you do not have information about any company then do not invest there. Many times scammers create fake companies to trap people, which have no authenticity. The names of these companies are visible only on the website or app.
Question- How can you protect yourself from investment scams?
answer- As India is moving from a saving country to an investing country, cases of investment scams are also increasing continuously. Whether through phone calls, social media or through fake online trading platforms, these scams can drain your savings before you even realize something is wrong. It is very important to take some precautions to avoid such scams.
Question- How safe is online investment?
answer- There is no problem in investing online. He is completely safe. The only question is whether you are investing online through a bank or a valid financial company or by falling into the trap of a fake scammer. Therefore it is very important to be careful. Every kind of investigation should be done before doing any transaction. For this you can also take the help of professional investors.
Question- What kind of precautions should be taken while investing online?
answer- In today’s era, online trading or investment has become a popular method. However, it is important to take some precautions. Such as-
- Always deal only with intermediaries registered and authorized with the Securities and Exchange Board of India (SEBI).
- Get complete information about the intermediaries and the investment methods they offer.
- Ignore rumors or advertisements that promise big returns.
- Always ask for written documents giving complete information about the investment. Read all documents carefully before investing money.
- If any point is confusing then clarify it beforehand.
- Always invest only after adequate information and research about the company.
- Always verify the validity of the investment. Know where your money is being used.
- Check that your money is not being invested in any illegal activity.
- Always investigate if there is a sudden increase in the stock price without major changes in the company’s strategy.
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