In a recent cybercrime incident, a 52-year-old businessman from Bengaluru fell victim to a stock market scam, losing a staggering Rs 5.2 crore. The victim, referred to as Sharath for anonymity, reported the incident to the cybercrime police on April 8. According to his account, the ordeal began when he received a WhatsApp message on March 11 promoting stock market investments with promises of high returns. Despite refraining from clicking the accompanying link, Sharath found himself involuntarily added to a WhatsApp group named "Y-5 Ever Core Financial Leader," boasting around 160 members.
Subsequently, Sharath received numerous calls from unidentified numbers, urging him to download an application linked to the investment scheme. Initially resistant, Sharath eventually succumbed to the persuasion tactics employed by the fraudsters and downloaded the app. Under the guidance of the perpetrators, Sharath began purchasing stocks facilitated by multiple accounts provided by the fraudsters. Assured that his funds were being invested in the stock market, Sharath transferred a staggering Rs 5.2 crore to five designated accounts by April 2.
Despite his growing suspicions, Sharath's attempts to withdraw profits or reclaim some of his invested capital for further investments were thwarted by the fraudsters. It was only then that he realised he had fallen victim to a scam. In response to the complaint, authorities have initiated legal proceedings under the IT Act, with ongoing investigations. Efforts have been made to freeze the funds in the fraudsters' accounts in collaboration with bank officials, raising hopes for potential recovery of some of the lost money, as confirmed by a senior police official.
Senior Citizen Scammed: Woman Loses Rs 6 Lakh
In another distressing incident, a 61-year-old woman fell prey to cybercriminals impersonating Delhi police and Customs officials. Exploiting her fear, the fraudsters falsely accused her of drug smuggling and money laundering, coaxing her to transfer Rs 6.56 lakh. Manipulating her trust, they provided fake validation procedures, leading to her significant loss.
These incidents serve as stark reminders of the growing tactics of cybercrime and the importance of caution while engaging in online transactions. Authorities urge the public to exercise caution and scepticism when encountering unsolicited investment opportunities or suspicious requests for financial transactions. As investigations continue into these cases, efforts to combat cybercrime through deliberate security measures and real-time data sharing remain imperative to safeguard individuals and businesses from falling prey to such fraudulent schemes.
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