Tarun Karthick
Port Blair, 26 April 2024
In a recent development, authorities have issued a stern warning regarding the proliferation of fraudulent investment schemes targeting unsuspecting citizens through social media platforms. Sponsored advertisements featuring deepfake videos and images of notable personalities are currently making rounds on popular platforms such as Facebook, Instagram, and Google, redirecting users to illegitimate WhatsApp and Telegram groups.
These groups, disguised as legitimate trading platforms or investment advice forums, are in fact operated by cyber fraudsters aiming to dupe individuals seeking to invest in the stock market. Within these deceptive groups, perpetrators share false information about stock market trends, offer stock tips, conduct live classes, and entice citizens to open institutional accounts with them, promising substantial profits through initial public offering (IPO) allotments.
The modus operandi of these cyber criminals involves sharing Play Store or App Store links to fake trading applications, or even distributing apk files directly. To further their deceit, Indian mule bank accounts are provided to victims for depositing funds. Initially, small payouts are made to build trust, but once significant sums are deposited, the fraudsters cease communication, leaving victims financially compromised.
In light of these alarming developments, the Andaman and Nicobar Police have issued a comprehensive advisory to help citizens safeguard themselves against falling victim to such scams:
1. Exercise Extreme Caution: Be wary of sponsored ads on Facebook, Instagram, or Google promoting investment groups on WhatsApp or Telegram, as these may be fraudulent.
2. Beware of Impersonation: Remain vigilant against impersonation attempts by fraudsters posing as Foreign Institutional Investors (FIIs), Financial Portfolio Managers (FPOs), financial advisors, or reputable institutions.
3. Protect Sensitive Information: Refrain from sharing sensitive financial details such as bank account information or login credentials with unknown entities.
4. Stay Informed: Familiarise yourself with common investment scams and maintain a healthy skepticism towards offers that appear too good to be true, particularly those promising unrealistically high returns.
For those in need of assistance, information, or inquiries, the Cyber Crime Police Station in Port Blair can be reached via the Cyber Helpline at 9531856083 or by visiting cybercrime.gov.in.
As the prevalence of online financial fraud continues to pose a significant threat, it is imperative for individuals to remain vigilant and exercise caution when engaging in online investment activities. Stay informed, stay cautious, and protect yourself against financial exploitation.