Cybercriminals target victims with fake stock market investment schemes

Cybercriminals are increasingly using fraudulent investment schemes to target individuals through social media and phone calls. In Aligarh, a woman was defrauded of 600,204 rupees after responding to a Facebook advertisement promising high returns through stock market investments. While the online platform initially showed her growing profits, she was unable to withdraw her funds, leading to the discovery of the scam.

In Indore, a man was cheated of 870,000 rupees after receiving a call from an unidentified woman promising significant profits from the international stock market. The victim transferred the money across nine separate transactions into various bank accounts. Upon attempting to withdraw his investment and purported earnings, the victim was met with further demands for money. Police investigations revealed that the funds were moved into accounts registered under various business names, including Hindus Traders and M Enterprises.