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Investment Bait Fraud of Rs 2.7 Cr in Cyberabad
This is May, and already cyber fraudsters have swindled around Rs 2.7 crore within the Cyberabad Police Station limits.
G
Guru Prasad
Hyderabad
Thu May 26 2022
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Investment Bait Fraud of Rs 2.7 Cr in Cyberabad
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This is May, and already cyber fraudsters have swindled around Rs 2.7 crore within the Cyberabad Police Station limits. They used a bait that many fell for – investment. As most people are greedy enough to fall for lucrative offers, 50 cases pertaining to investment fraud have been booked by the Cyberabad Police this year.


Businessmen and techies topped the list of victims, and the irony is that they fell for illiterate gangs operating from Bihar, Uttar Pradesh, and Bengaluru. Cybercrime officials share that in all investment frauds, fraudsters banked on the greed in people, mostly youngsters, IT professionals, home-makers, the elderly, and teenagers, who were lured by the chance of making easy money.


In all cases, the fraudsters send links to the victim’s mobile phone with attractive investment schemes, promising quick and high returns. Once the money is collected, they simply vanish into thin air, says Cyberabad Cybercrime Cell ACP G Sridhar.


Fraudsters also approach people with a few popular investment schemes that include investments in reputed companies offering 10-20 percent high returns, investments in real estate, bitcoins, and the share market.


The modus operandi includes the fraudsters calling the victims with offers to invest in franchises of reputed firms or on gold stocks. They show them profits initially and collect thousands to crores. Once they collect the money, they switch off their mobile phones.


The Cyberabad Police is taking petitions from the public at various local police stations and filing criminal cases, and investigating. One can also report at cybercrimes.gov.in (National Cyber Crimes Reporting Portal – NCRP) for quick legal action and also block the flow of money. Cybercrime police can be reached at 9490617310 or Cyberabad Whatsapp 9490617444 or Dial 100 or 1930 within 24 hours.


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Investment Bait Fraud of Rs 2.7 Cr in Cyberabad
Investment Bait Fraud of Rs 2.7 Cr in Cyberabad
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Investment Bait Fraud of Rs 2.7 Cr in Cyberabad
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