Mangaluru Victim Loses Rs 25 Lakh In Fake Trading's Mirage

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New Delhi: In a recent incident reported by TOI, a resident of Mangaluru fell victim to an online scam, losing a staggering Rs 25 lakh to fraudsters operating through a fake trading app. The victim's ordeal began in September when he was contacted on Instagram. The scammers, posing as promoters of a stock trading app, lured him with the promise of easy money.

To gain the victim's trust, they initially assigned simple tasks and paid him for completing them. As a result, the victim, convinced of the legitimacy of the scheme, proceeded to invest significant amounts on four different occasions—Rs 50,000, Rs 4.5 lakh, Rs 15 lakh, and Rs 5 lakh. ()

However, when the victim attempted to withdraw his supposed "investment," suspicions arose. It became evident that he had fallen prey to a scam. The scammers, following their typical modus operandi, vanished once the victim realized the deceit. ()

A case has been registered at the CEN Police Station in connection with the incident. This serves as another stark reminder of the increasing frequency of online scams, where unsuspecting individuals are targeted through various deceptive methods.

To safeguard against such scams, it is crucial for individuals to exercise caution and conduct thorough due diligence before investing in any scheme, regardless of the platform or source. Scammers are adept at gaining trust before executing their fraudulent activities.

Be wary of opportunities that promise unrealistic returns in a short period. Avoid sharing sensitive information, such as national identification cards, bank OTPs, and personal addresses, as scammers often exploit such details to carry out their deceptive plans.

As online scams continue to evolve, individuals must remain vigilant and adopt preventive measures to protect themselves from falling victim to financial fraud.