Tarun Karthick
Port Blair, 27 July 2024
In a concerning trend, cyber fraudsters are exploiting deep fake technology to create convincing advertisements featuring prominent individuals. These deceptive ads, circulating on platforms such as Facebook, Instagram, and Google, redirect unsuspecting users to fraudulent WhatsApp and Telegram groups. Posing as legitimate trading groups, investment advice platforms, or financial advisors, these cyber criminals are ensnaring victims in sophisticated scams.
Once users join these groups, they are bombarded with information on the stock market, stock tips, and live classes. The fraudsters entice them to open institutional accounts, promising significant profits through guaranteed Initial Public Offering (IPO) allotments. To further their deceit, they share links to fake trading applications via the Play Store, App Store, or APK files.
Victims are then instructed to deposit money into Indian mule bank accounts. Initially, small payouts are made to build trust. However, once a substantial amount is deposited, the fraudsters cease communication, leaving victims in financial ruin.
Advisory from Andaman and Nicobar Police
To protect yourself from these fake stock market investment scams, Andaman and Nicobar Police offers the following advice:
1. Be cautious of sponsored ads: Sponsored ads on Facebook, Instagram, or Google promoting investment groups on WhatsApp or Telegram may be fraudulent.
2. Beware of impersonation: Fraudsters may pose as Foreign Institutional Investors (FIIs), FPOs, financial advisors, or reputable institutions.
3. Protect your financial information: Do not share sensitive financial details such as bank information or login credentials with unknown entities.
4. Stay informed: Educate yourself about common investment scams and be skeptical of offers that promise unrealistically high returns.
For assistance or more information, contact the Cyber Crime Police Station in Port Blair via the Cyber Helpline at 9531856083 or visit cybercrime.gov.in.