Tarun Karthick
Port Blair, 09 September 2024
In a concerning development, cyber fraudsters are increasingly using sophisticated deep fake videos and images of well-known personalities to mislead users on social media platforms like Facebook, Instagram, and Google. These fraudulent advertisements are redirecting unsuspecting individuals to WhatsApp and Telegram groups falsely presented as legitimate trading forums, investment advice platforms, or financial advisory services.
Once inside these groups, victims are bombarded with seemingly credible information on stock market trends, stock tips, and live trading classes. The fraudsters entice citizens to open institutional trading accounts with promises of maximum profits through guaranteed Initial Public Offering (IPO) allotments.
In a more alarming trend, these cybercriminals are sharing links to fake trading applications, available on the Google Play Store or Apple App Store, as well as APK files directly with their targets. Victims are then asked to deposit money into Indian mule bank accounts under the pretence of making secure investments. Initially, small payouts are made to build trust, but once a significant amount is deposited, the fraudsters abruptly cut off communication, leaving victims in financial ruin.
In light of these developments, the Andaman and Nicobar Police have issued an urgent advisory to protect the public from falling prey to these fake stock market investment schemes:
1. Exercise Caution with Sponsored Ads: Be wary of sponsored advertisements on platforms like Facebook, Instagram, or Google that promote investment groups on WhatsApp or Telegram. These may be fronts for fraudulent operations.
2. Beware of Impersonation: Fraudsters often pose as representatives of reputable institutions, such as Foreign Institutional Investors (FIIs), Follow-on Public Offerings (FPOs), or financial advisors. Always verify the authenticity of such claims.
3. Protect Sensitive Information: Never share sensitive financial details, such as bank account information or login credentials, with unknown entities online.
4. Stay Informed: Educate yourself about common investment scams and be skeptical of any offers that seem too good to be true, especially those promising unrealistic returns.
Andaman and Nicobar Police urge citizens to remain vigilant and report any suspicious activities related to cybercrime. For assistance or inquiries, individuals can contact the Cyber Crime Police Station in Port Blair via the Cyber Helpline at 9531856083 or visit the official cybercrime portal at cybercrime.gov.in.
This advisory is part of a broader effort by law enforcement to curb the rising tide of cyber financial fraud, which has left many citizens across the country financially devastated. The public is encouraged to take these warnings seriously and to stay informed about the evolving tactics used by cybercriminals.