Senior citizen from Bangalore joins training session online to learn stock investment, ends up losing Rs 6 crore
6 days, 18 hours ago

Senior citizen from Bangalore joins training session online to learn stock investment, ends up losing Rs 6 crore

India Today  

In yet another case of an online scam, a senior citizen from Bangalore lost Rs 6.41 crore after falling prey to an online investment fraud. The victim was connected with the fraudsters via WhatsApp and fell into their trap in the hope of learning stock market investments and strategies through online training sessions. After introducing themselves, the scammers offered to conduct training sessions for the victim, promising extravagant returns on investments — reportedly up to 700 per cent. During these sessions, the victim, along with other group members, was added to a WhatsApp group where the fraudsters, masquerading as investment experts, shared stock market strategies.

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History of this topic

Bengaluru senior citizen falls prey to ‘digital arrest’ scam, loses ₹1.94 cr saved in fixed deposit: Report
1 week, 1 day ago

Bengaluru senior citizen falls prey to ‘digital arrest’ scam, loses ₹1.94 cr saved in fixed deposit: Report

Hindustan Times  

A 68-year-old man in Bengaluru fell victim to an organised cyber scam, losing ₹1.94 crore from his fixed deposit after being held under "digital arrest" for seven days. The scammers, pretending to be Mumbai crime branch officers, accused the senior citizen of involving in a money laundering case linked to Naresh Goyal, the founder of Jet Airways. The fraudsters had …

Senior citizen from Bengaluru loses Rs 1.94 crore from his fixed deposit after getting WhatsApp video call
1 week, 3 days ago

Senior citizen from Bengaluru loses Rs 1.94 crore from his fixed deposit after getting WhatsApp video call

India Today  

Digital arrest cases have become a significant cyber menace in India. The latest victim of such fraud is from Mumbai, where a 68-year-old senior citizen was reportedly swindled out of Rs 1.94 crore from his fixed deposit. According to a report by Deccan Herald, the incident began on November 30 when the victim received a WhatsApp video call from an …

Kerala man loses Rs 4 crore after downloading an app from WhatsApp
1 week, 5 days ago

Kerala man loses Rs 4 crore after downloading an app from WhatsApp

India Today  

In yet another case of cyber fraud, a 45-year-old man from Thekkumbhagam, Tripunithura lost Rs 4.05 crore over a period of two and a half months. The victim fell prey to a deceptive WhatsApp message that included a link to an app promising lucrative investment opportunities and high returns. This incident reported from Kerala started when the victim was contacted …

Zerodha CEO Nithin Kamath's advice on ‘rising trend’ of stock market fraud
3 weeks, 1 day ago

Zerodha CEO Nithin Kamath's advice on ‘rising trend’ of stock market fraud

Hindustan Times  

Alarmed by what he sees as the “rising trend” of stock market fraud, including through platforms such as WhatsApp and Telegram, Zerodha CEO Nikhil Kamath has advised people to change their WhatsApp and Telegram settings so that strangers cannot add them to groups on these messaging apps. He added, “One thing you can do to protect yourself is change the …

Hyderabad man duped of Rs 8 crore by fraudsters posing as stock traders
3 weeks, 1 day ago

Hyderabad man duped of Rs 8 crore by fraudsters posing as stock traders

India Today  

Cyber Crime Police Station of the Telangana Cyber Security Bureau has arrested two individuals involved in a stock trading fraud that duped a man of Rs 8.14 crore in Hyderabad, officials said on Sunday. The incident came to light on October 21 when a resident of Hyderabad's Banjara Hills filed a complaint alleging that he had been lured into a …

WhatsApp share market scam dupe: Mumbai man loses ₹11.1 crore in fake investment scheme
Trending News
3 weeks, 3 days ago

WhatsApp share market scam dupe: Mumbai man loses ₹11.1 crore in fake investment scheme

Live Mint  

In an unfortunate incident involving a retired 75-year-old senior citizen from Colaba, Mumbai, a fraudster's scheme led to the loss of a staggering ₹11.1 crore. Soon after, the scammers moved the victim to a separate WhatsApp group, where they sent him a link to download a fake trading app. Once installed, the app appeared to offer various high-return investment options, …

Stock market fraud: Bengaluru man loses ₹91 lakh to fake trading app; here’s what Zerodha’s Nithin Kamath has to say
3 weeks, 3 days ago

Stock market fraud: Bengaluru man loses ₹91 lakh to fake trading app; here’s what Zerodha’s Nithin Kamath has to say

Live Mint  

Nithin Kamath, co-founder and CEO of Zerodha, has raised concerns about a surge in cyber frauds targeting investors through fake trading apps. Addressing the growing threat, Zerodha CEO Nithin Kamath, revealed that scammers have siphoned off over ₹1,100 crore in the past nine months. Kamath noted, “You are asked to install fake trading apps that look exactly like those of …

75-year-old Mumbai man gets added to unknown WhatsApp group, loses Rs 11.1 crore
3 weeks, 3 days ago

75-year-old Mumbai man gets added to unknown WhatsApp group, loses Rs 11.1 crore

India Today  

In yet another case of a share market scam, a 75-year-old retired ship captain from Colaba, Mumbai, was defrauded of Rs 11.1 crore. The victim was first added to a WhatsApp group by an unknown individual who later promised him investment advice and ways to earn good money through share market investments. The scam began on August 19 when the …

Nithin Kamath's tip after Bengaluru techie loses Rs 91 lakh in stock market fraud
3 weeks, 3 days ago

Nithin Kamath's tip after Bengaluru techie loses Rs 91 lakh in stock market fraud

India Today  

Zerodha founder and CEO Nithin Kamath offered a crucial tip to protect against fraudsters after a Bengaluru techie lost Rs 91 lakh in an online stock market fraud. In a post on X, Kamath highlighted a news report about the scam, which began with a WhatsApp message on July 29 offering stock market training in exchange for votes in a …

First they share tips, then dupe people to steal their money: Online share market scam explained
1 month, 2 weeks ago

First they share tips, then dupe people to steal their money: Online share market scam explained

India Today  

A man from Udupi recently fell prey to an online investment scam. According to the victim, he was added by unknown individuals to a WhatsApp group named “C22 Investment Alliance Trading.” According to a report by Deccan Herald, the man stayed in the group, lured in by the promise to tips on stock markets and trading that would help him …

From fake stocks to deepfakes: Cybercriminals target elderly in rising Indian online scam wave
1 month, 2 weeks ago

From fake stocks to deepfakes: Cybercriminals target elderly in rising Indian online scam wave

Live Mint  

In a shocking incident that underscores the sharp rise in online scams in India, a 63-year-old man from Hyderabad was recently defrauded of ₹50 lakh after joining a fraudulent stock market scheme organised through a WhatsApp group. The online classes were facilitated through links shared on the WhatsApp group, directing participants to private virtual sessions where Singh provided market insights …

Online Share Trading Scam: 6 Arrested for Duping Investor of ₹14 Crore
2 months ago

Online Share Trading Scam: 6 Arrested for Duping Investor of ₹14 Crore

The Hindu  

Six people have been arrested by the Tamil Nadu Police for running an online share trading scam that duped a person of ₹14 crore. The gang operated through a WhatsApp app and convinced victims to invest in fake share trading opportunities promising high returns. The police have retrieved the money from 13 bank accounts and arrested the first-layer beneficiary ICICI …

Special Squads Tracking Suspicious Social Media Groups, Exposing Online Investment Scams
2 months ago

Special Squads Tracking Suspicious Social Media Groups, Exposing Online Investment Scams

The Hindu  

Special squads are investigating online investment scams by tracking suspicious social media groups created by anonymous individuals. The groups are used to defraud investors through fraudulent investment schemes. Police sources revealed that investors who lost money in such incidents were often unaware of the individuals behind the groups, who used fake profiles to pocket their funds. The plan of the …

Bengaluru man loses ₹59 lakh in elaborate fake online courtroom scam: Report
3 months ago

Bengaluru man loses ₹59 lakh in elaborate fake online courtroom scam: Report

Hindustan Times  

In a shocking case of cyber fraud, a 59-year-old Bengaluru man, K J Rao, was scammed out of as much as ₹59 lakh by criminals who staged an elaborate fake online courtroom trial. The fraudsters then took it a step further, staging a fake online courtroom session via Skype, the report added. They convinced Rao to transfer ₹59 lakh to …

Hyderabad: Senior Citizen loses 13 crores after clicking on WhatsApp Link
3 months, 2 weeks ago

Hyderabad: Senior Citizen loses 13 crores after clicking on WhatsApp Link

Deccan Chronicle  

Hyderabad: Cyber criminals duped an elderly man of Rs. The Telangana Cyber Security Bureau on Wednesday arrested three persons involved in this scam following a complaint filed by the victim on Monday. According to the police, a retired employee from Hyderabad who received a message on WhatsApp, offering online stock trading tips. Fraudsters then sent links under the names of …

ED launches probe in multi crore stock market frauds run with fake apps
3 months, 2 weeks ago

ED launches probe in multi crore stock market frauds run with fake apps

Hindustan Times  

MUMBAI: The Enforcement Directorate has initiated a money-laundering investigation into an alleged multi-crore fraudulent online scam in which a large number of gullible investors across the country were cheated of their hard-earned money by inducing them to invest in stock markets through fake mobile apps. MODUS-OPERANDI: ED’s probe revealed that the victims were being cheated by allegedly entrapping them into …

Gujarat ‘share trader’ dupes Kerala woman of Rs 1.25 crore, nabbed from Ahmedabad
3 months, 3 weeks ago

Gujarat ‘share trader’ dupes Kerala woman of Rs 1.25 crore, nabbed from Ahmedabad

New Indian Express  

KOCHI: When an 80-year-old Aluva woman saw that she had made good profits in the chart shared by an ‘online share trading’ firm, where she had made heavy investments over a period since last November, she decided to withdraw a substantial amount. The woman then lodged a complaint with the Ernakulam Rural police, leading to the unravelling of a mafia …

Vigilant elderly person realizes scam call and alerts police
5 months, 2 weeks ago

Vigilant elderly person realizes scam call and alerts police

Deccan Chronicle  

Hyderabad: A 76-year-old retired employee from Hyderabad received a fake WhatsApp video call from an unidentified person posing as Alambagh police in Lucknow. The elderly person's alertness not only prevented a major cybercrime but also protected him from being duped by fraudsters, according to Hyderabad cyber crimes police. In a public advisory, the police said if a call raises suspicions, …

WhatsApp group scam on rise in India: What is it, how to be safe
6 months, 3 weeks ago

WhatsApp group scam on rise in India: What is it, how to be safe

India Today  

In recent months, we have seen a spike in cases of online scams. The latest of these deceptive tactics is a new WhatsApp Group Scam, through which scammers are luring innocent people with stock market investment plans. In a recent report of the WhatsApp Group scam, two brothers from Pune, India, were defrauded of Rs 2.45 crore. Looking at several …

Chandigarh man duped of ₹3.66 crore in online trading fraud
6 months, 4 weeks ago

Chandigarh man duped of ₹3.66 crore in online trading fraud

Hindustan Times  

A 68-year-old resident of Sector 49 in Chandigarh lost ₹3.66 crore to cyber fraudsters who lured him to invest in stock trading between February and March, said police. The Chandigarh resident said he was added to a WhatsApp group named “P15 Stock Market Exchange Club” created in December 2023. Kumar said he was added to a WhatsApp group named “P15 …

Delhi man loses Rs 1 crore in a new WhatsApp Stock market investment group scam
7 months ago

Delhi man loses Rs 1 crore in a new WhatsApp Stock market investment group scam

India Today  

A resident of Shalimar Bagh, Northwest Delhi, has become the latest victim of an online scam after joining a WhatsApp group. The victim fell prey to a sophisticated scheme in which the scammer lured him into investing over Rs 1 crore through a WhatsApp group. The group, posing as an investment research platform, slowly gained the victim's trust before exploiting …

How WhatsApp investing scams are duping people into parting with their savings
7 months, 2 weeks ago

How WhatsApp investing scams are duping people into parting with their savings

Firstpost  

A 48-year-old businessman from Maharashtra has lost Rs 1.88 crore after falling victim to a share trading scam on WhatsApp. Image used for representational purpose/Pixabay A 48-year-old businessman, who also owns a coaching class in Maharashtra’s Thane district, fell victim to a share trading scam that cost him more than Rs 1.88 crore. In yet another case of online investment …

₹5.2 crore gone in a click: Bengaluru man conned by online fraudsters via WhatsApp
7 months, 4 weeks ago

₹5.2 crore gone in a click: Bengaluru man conned by online fraudsters via WhatsApp

Live Mint  

Online stock investment frauds are becoming rampant in India and thousands of people have lost lakhs of rupees in the past few months. In a recent case of an online scam on WhatsApp, a Bengaluru businessman lost a whopping ₹5.2 crore after clicking on a link to download an app. According to a Times of India report, the victim received …

Bengaluru woman joins WhatsApp group to invest, loses ₹73.7 lakh
8 months, 3 weeks ago

Bengaluru woman joins WhatsApp group to invest, loses ₹73.7 lakh

The Hindu  

A 47-year-old woman from Viveknagar joined a WhatsApp group to invest her total savings of ₹73. Little did she know that she would become a victim of fraud, as she was removed from the WhatsApp group after she tried to withdraw the money from her wallet. The victim, in her complaint, said that she was introduced to “ KKR group”, …

How 74-year-old lost ₹18 lakh to online investment fraud
10 months, 2 weeks ago

How 74-year-old lost ₹18 lakh to online investment fraud

The Hindu  

A 74-year-old resident of B. Mooda in Bantwal was defrauded of ₹18.92 lakh to links that promised of good returns for investment in online trading. In the complaint to Bantwal Town Police on Thursday, Subraya Rama Madiwala said that he recently received a message from an unknown number through WhatsApp that undertaking online trading through ‘Kuroto Capital Fund’ would fetch …

How a Delhi man lost Rs 12 Lakh to Telegram scammers? A crypto scam story | Tips to stay safe
11 months, 1 week ago

How a Delhi man lost Rs 12 Lakh to Telegram scammers? A crypto scam story | Tips to stay safe

India TV News  

Delhi Crypto Scam: In India, online scams are on the rise, and a significant threat involves investment scams circulating on platforms like Telegram and WhatsApp. In a recent incident, Ankit Chaudhary, an engineer from Delhi, fell victim to this scheme, losing Rs 12 lakh. Initially drawn in by a Telegram message offering a cryptocurrency investment opportunity, Chaudhary invested Rs 10,000. …

Cyber fraudsters send WhatsApp messages in Collectors’ names, demand money from officers
1 year ago

Cyber fraudsters send WhatsApp messages in Collectors’ names, demand money from officers

The Hindu  

Cyber fraudsters have been sending messages to government officers impersonating higher officials like the Collector and SP and asking for money. ‘’The cyber fraudsters used my photo as their WhatsApp Display Picture to make the request look genuine,’‘ Mr. Venugopal Reddy told The Hindu over the phone on Saturday. Meanwhile, in Vijayawada also, miscreants created a Whatsapp group with the …

Hyderabad: Man Loses Rs 78 Lakh in Job Offer Scam
1 year, 2 months ago

Hyderabad: Man Loses Rs 78 Lakh in Job Offer Scam

Deccan Chronicle  

Hyderabad: A resident of of Kapra resident fell victim to a cyber fraud, which was disguised as a location review job offer, and lost about Rs 78 lakh, police said on Tuesday. He provided a link to a Telegram group, and asked the victim to review locations, offering Rs 450 as profit for his initial reviews. Engaging in conversations with …

WhatsApp scam: Man from Coimbatore gets cheated for Rs 13 lakh after falling for fake job offer
1 year, 6 months ago

WhatsApp scam: Man from Coimbatore gets cheated for Rs 13 lakh after falling for fake job offer

India Today  

India is witnessing a spike in online scams, with many people across the country having lost lakhs of rupees in the past few months after falling for fake lucrative job offers. In a similar case of online job fraud, another man from Pune fell victim to a scam, losing Rs 16.87 lakh. The sender posed as a representative of a …

Mangalore man loses over 15 lakh after clicking on a link he received from an unknown person, here is what happened
1 year, 9 months ago

Mangalore man loses over 15 lakh after clicking on a link he received from an unknown person, here is what happened

India Today  

Online frauds have become a common occurrence with scammers constantly devising new ways to trick people into divulging their bank details. In a recently reported case, a man from Karnataka lost around Rs 15 lakh after clicking on a link he got from an unknown person who promised him to provide a part-time job. However, after clicking on the link, …

Investment frauds on the rise in Hyderabad
1 year, 11 months ago

Investment frauds on the rise in Hyderabad

Deccan Chronicle  

Hyderabad: Investment frauds are on the rise in the city, with new-age crooks and con artists scamming investors by promising huge returns in a short period of time. The con artists use WhatsApp groups to lure people to make cryptocurrency investments with the promise of huge profits. According to Dr. Gajarao Bhupal, joint commissioner, Central Crime Station, Hyderabad, in all …

WhatsApp users lose over Rs 54 crore to a new scam, here is what happened
2 years ago

WhatsApp users lose over Rs 54 crore to a new scam, here is what happened

India Today  

Cyber money frauds are increasing across the globe. Bringing another shocker, a new case has been reported from Australia, where fraudsters are now posing as family members of victims and asking them to send money under the pretext of losing their mobile phones. In this recently reported scam called 'Hi Mum' or "family impersonation," fraudsters are targeting victims on WhatsApp …

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