Thane woman duped of Rs 24.7 lakh in online investment scam: Here’s what happened and how to stay safe

Online financial scams continue to target individuals, with cybercriminals now utilising messaging platforms and fake trading portals to deceive victims. In a recent case reported from Maharashtra, a 55-year-old woman from Thane lost Rs 24.7 lakh in what appears to be an online investment scam.

According to a report by PTI, the incident took place between August 5 and August 28. The victim was approached by fraudsters posing as stock market advisors, persuading her to invest in stock trading. Police officials from Naupada Police Station said that the woman was added to multiple WhatsApp groups, sharing “lucrative” stock trading opportunities.

To add credibility, the scammers even shared links to fake websites and bank account details for executing trades. Convinced by promises of quick and high returns, the woman transferred a total of Rs 24.7 lakh over several transactions. However, when she tried to withdraw her profits, the fraudsters stopped responding.

A complaint has been filed under relevant provisions of the Bharatiya Nyaya Sanhita (BNS) and the Information Technology Act. An investigation has already been launched, and the accused are being tracked by using the mobile numbers and digital footprints linked to the fraud.

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How to protect yourself from such scams

1. If an investment promises unusually high returns with minimal risk, it’s most likely a scam.
2. Always verify whether the company or broker is registered with the Securities and Exchange Board of India (SEBI).
3. Stay wary of WhatsApp/Telegram groups. Fraudulent investment groups are a common way to carry out such scams. In case of being added to such groups, exit and report suspicious groups immediately.
4. Never rely solely on forwarded links or testimonials. Verify schemes directly from the official website of the institution.
5. If you encounter such scams, report them on the Chakshu Portal (https://sancharsaathi.gov.in/). Victims should contact their bank without delay and register a complaint via https://cybercrime.gov.in/ or by calling 1930.