Tarun Karthick
Sri Vijaya Puram, 04 November 2024
Andaman and Nicobar Police has issued a public warning against a surge in fraudulent stock market investment websites and applications that are deceiving unsuspecting investors through social media platforms like Facebook, Instagram, and Google. These scams are being promoted through sponsored advertisements featuring manipulated images and videos of well-known individuals to appear legitimate. Users are then redirected to fake WhatsApp and Telegram groups operated by cybercriminals posing as trading groups, financial advisors, or investment platforms.
Once added to these groups, victims are exposed to deceptive stock tips, live classes, and promises of exclusive access to lucrative investment opportunities. Fraudsters also share links to fake trading apps on the Play Store, App Store, or directly share APK files. They provide Indian bank accounts—often belonging to “money mules”—for deposits. Although initial small payouts are made to build trust, communication ceases after substantial amounts are deposited, resulting in victims losing their investments to these cyber scams.
Advisory for Public Safety Against Stock Market Scams:
- Exercise caution with sponsored ads on Facebook, Instagram, or Google that promote investment groups on WhatsApp or Telegram, as many may be fraudulent.
- Be vigilant against impersonators claiming to represent FIIs, FPOs, financial advisors, or reputable institutions.
- Avoid sharing sensitive financial details, such as bank information or login credentials, with unknown sources.
– Remain skeptical of investment offers that promise unrealistically high returns.
For any assistance or to report suspicious activity, contact the Cyber Crime Police Station in Port Blair via the Cyber Helpline at 9531856083 or visit https://cybercrime.gov.in.