Rs 15 Lakh Lost by Man in Online Trading Scam; How to Avoid Being Cheated in 2024
In Ulloor, a senior citizen lost Rs 15 lakh to an elaborate online trading scam. He was cheated after investing Rs 15 lakh in an online trading site that promised huge returns. On the rise, such frauds have been targeting investors all over India.
Traders who were trading earlier and had experience came to know about the fake message through WhatsApp sent by him. He disguised as the 'T-6 Geojit Securities' platform and made the man believe that he would earn heavy profits by trading online. Even the scammer included the victim in a WhatsApp group with regular updates about share markets, which gave it a true appearance.
Between October 14 and October 22, the man collected Rs 15 lakh in installments in bank accounts in UCO Bank and Bank of Maharashtra. Having dispatched the money, scammers ran away from all communication, leaving the target helpless and confused. Having realized he was duped, the victim at once reported the case to the police.
This case was able to reveal the alarming fact that more and more cases of online scams are shooting up despite continuing awareness campaigns. In fact, according to police, within the first hour after committing a cybercrime, it is actually termed as the "golden hour" since this would give one ample time to report the crime and raise chances of recovering the lost money.
To avoid falling into the trap of such scams, here are the key steps for one to follow:
Check offers and platforms: Never fail to verify the legitimacy of trading platforms. Always make sure that the platform is registered and transparent.
Do not send blind transfers: Avoid sending money to unrecognized accounts. Especially when the request is made outside of the official channel like WhatsApp.
Skeptical of guaranteed returns: An online platform that guarantees returns is a huge red flag. No brokerage firm can assure a fixed return, not to mention a multi-fold return.
Report Fraud Immediately: When you sense a fraud is being committed, it becomes important to immediately report this incident to the police or cybercrime authorities. And acting within time may help trace these fraudsters and recover some of the funds.
Keep Up to Date: The best way to do this is to keep updating yourself by getting news alerts and police advisories regarding the latest online scams.
So being cautious yet aware of all the above help individuals secure their finances against online frauds.
Also read: Kolkata Lottery Scam: ED Seizes Rs 3 Crore Cash in Massive Crackdown on Bogus Operations
