Victim was tricked with a fake IIFL investment site showing inflated returns of up to Rs 5.6 crore.
Fraudsters used WhatsApp outreach and fake dashboards to build trust.
Police registered the case; experts advise using only official apps and reporting scams via helpline 1930.
Online scams have continuously been on the rise. Cybercriminals are using social media and fake trading platforms to cheat people out of their life savings. Recently, a 60-year-old man from Mangaluru lost Rs 25.7 lakh to fraudsters posing as investment advisors. The case has been registered at the District CEN Crime police station.
SurveyAccording to the complaint, the victim, Ramakrishna Bhat, was first contacted on WhatsApp on July 10. The messages came from people claiming to represent IIFL (India Infoline), a well-known investment company. They invited him to join what they described as an “exclusive” investment program and shared a link to a professional-looking website.
The website appeared genuine and even had a dashboard that displayed huge profits. At one point, the portal showed his account balance had grown to Rs 5.6 crore. Believing these returns were real, Bhat continued transferring money into different accounts provided by the fraudsters. Over time, he invested a total of Rs 25.7 lakh.
However, when he attempted to withdraw his so-called profits, the website blocked his access. That’s when he realised he had been conned and reported the matter to the police.
The scam followed a clear pattern. First, the fraudsters hooked the victim with unsolicited WhatsApp messages. Then they baited him with a convincing but fake investment platform that showed massive returns. Finally, they trapped him by encouraging repeated payments, while ensuring that withdrawals were impossible.
To trap users, criminals borrow credibility from trusted brand names, use fake dashboards to exploit greed, and stretch the scheme over weeks or months to make it appear more believable.
Also read: OnePlus 13 price drops by over Rs 5,500 ahead of Flipkart BBD sale
To avoid falling victim, users are advised to never trust investment links sent over WhatsApp or Telegram and to always stick to official apps or websites. Verifying investment opportunities directly with companies, discussing large financial decisions with family, and reporting suspicious activity to the Cybercrime helpline (1930) can help prevent such losses.
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Himani Jha
Himani Jha is a tech news writer at Digit. Passionate about smartphones and consumer technology, she has contributed to leading publications such as Times Network, Gadgets 360, and Hindustan Times Tech for the past five years. When not immersed in gadgets, she enjoys exploring the vibrant culinary scene, discovering new cafes and restaurants, and indulging in her love for fine literature and timeless music. View Full Profile
