HIGHLIGHTS

A woman connected to an unknown individual on WhatsApp, who subsequently shared numerous links related to online trading.

In the following days, she received continued messages, ultimately being invited to join a specific WhatsApp group.

Through this manipulation, the scammers cultivated her trust by providing free online trading lessons and demonstrating initial profits on smaller investments.

Nowadays, online scams have surged, with malicious entities employing cunning tactics to trick unsuspecting individuals into surrendering their hard-earned cash. A notable incident recently came to light involving a 57-year-old woman who became a victim of an online trading scam, losing an astounding Rs 15.57 lakh. This article explores the intricate details of this fraudulent scheme and offers insights on how to safeguard oneself against similar traps.

Initially, the woman was approached on WhatsApp by an unfamiliar individual who sent her links associated with online trading activities. Over several days, she received numerous follow-up messages and was later invited to join a WhatsApp group dedicated to trading discussions. Within this group, numerous members touted their supposed successes, displaying how they had reaped enormous profits through online trading ventures.

For more on scams, see: Couple loses Rs 52 lakh in digital arrest scam, held under video surveillance for 2 months

The manipulative individuals steadily built her trust by offering complimentary online trading courses and showcasing initial profits from modest investments, as reported by TOI. Motivated by what appeared to be genuine success stories, the woman became increasingly enticed and invested more money, anticipating substantial returns. Unfortunately, after she committed a significant amount, the expected returns ceased altogether. It was only then she recognized the deception and chose to report the crime to law enforcement officials.

For similar incidents, refer to: Trader loses over Rs 2 lakh in part-time job scam involving watermelon purchases

Strategies to Prevent Falling Victim to Scams

• Validate the source: Exercise caution when receiving investment propositions from strangers on social media or WhatsApp. Always ascertain that the trading platform is authentic and trustworthy.
• Beware of unrealistic promises: Scammers frequently guarantee high returns with minimal risk exposure. If an investment opportunity seems excessively appealing, it is likely a scam.
• Steer clear of investment-promoting WhatsApp groups: Fraudsters often employ fabricated testimonials and scripted success stories to entice potential victims. Approach such groups with skepticism.
• Conduct thorough research prior to investing: Before committing funds to any online trading platform, ensure to perform comprehensive research. Seek out reviews and any related complaints.
• Guard your personal information: Scammers may solicit sensitive data, such as banking details or one-time passwords (OTPs). Never disclose this type of information to individuals you do not know.
• Report any suspicious activities: Should you suspect that you are encountering a scam, report your concerns to cybercrime authorities without delay.