Mangaluru Man Loses ₹2 Crore in Online Investment Scam
A 43-year-old resident of Mangaluru has reportedly lost a staggering ₹2 crore after falling victim to an online investment scam that promised quick and high returns. The case highlights the growing menace of cyber fraud targeting financially ambitious individuals seeking online trading or investment opportunities.
How the Fraud Unfolded
According to police reports, the victim was lured through a social media advertisement promoting a lucrative online investment platform. Initially, the scammers allowed him to earn small profits to build trust. Once confidence was established, they convinced him to invest larger sums — totaling around ₹2 crore over multiple transactions.
When the victim tried to withdraw his profits, the platform blocked his access, and all communication channels with the operators were cut off. The man then realized he had been duped and filed a complaint with the Mangaluru Cyber Crime Police.
Police Investigation Underway
Authorities have begun investigating the online trail to trace the digital footprints of the scamsters. Cyber experts believe that the fraudsters might be part of a larger organized network operating from outside India, often using fake trading websites and crypto-based payment gateways to conceal their identities.
What Makes These Scams So Convincing
Professional Websites: Fraudulent sites mimic legitimate investment platforms.
Small Initial Profits: Scammers give early gains to trap victims into investing more.
High Return Promises: Unrealistic returns attract unsuspecting individuals.
Psychological Manipulation: Fraudsters use urgency and emotional pressure to secure large transfers.
How to Stay Safe from Online Investment Scams
Always verify the platform’s registration and SEBI authorization.
Avoid investment opportunities advertised on social media or WhatsApp groups.
Never share personal banking details or OTPs with unknown entities.
Use trusted financial apps and track your investments through verified institutions.
Report suspicious activity immediately to cybercrime.gov.in or the local cyber police station.
Trending on Google
This story gained rapid traction on Google due to the high monetary loss, cybercrime involvement, and increasing cases of digital investment fraud across India. With India’s growing digital economy, similar scams have prompted increased public interest and searches about online investment safety.
FAQs
1. What is an online investment scam?
An online investment scam involves fraudsters posing as legitimate brokers or companies, convincing victims to invest money in fake platforms with promises of high returns.
2. How can one verify if an investment platform is legitimate?
Check if the company is registered with SEBI or RBI, read independent reviews, and avoid platforms that promise “guaranteed profits.”
3. What should victims of such scams do?
Immediately report the case to the nearest police station, file a complaint on cybercrime.gov.in, and notify your bank to attempt fund recovery.
4. How can investors protect themselves in the digital space?
Use two-factor authentication, stay updated on cybersecurity alerts, and invest only through recognized financial institutions.
5. Why are such scams increasing in India?
The rapid growth of digital finance, combined with limited financial awareness and the anonymity of online transactions, has made India a hotspot for cyber investment scams.
Source credit : Naina J A
Published on : 12th November
Published by : RAHAMATH
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