Fintech major PhonePe has shared important techniques, using which people can avoid being lured into scams
In an Online trading scam, the scamster acts as a broker for a supposed investment based on false information or trick people into trading on a fake website
Such investments can be in the form of stocks, bonds, mutual funds, assets, etc
Scamsters frequently offer investors implausible profits with little to no risk
Most trading scams start on social media or through messaging applications
Check Out 4 Tips And Tricks For Online Trading Scams Shared by PhonePe
Fraud brokers excessively promote the idea of making tiny investments to reap implausible profits
As profits rise and the individual wishes to withdraw money, the purported earnings are made to seem inaccessible
Savvy fraudsters never stop requesting more money, coming up with creative justifications and the promise of withdrawals in the near future
Scammers are not responsive, always inaccessible and after extracting a considerable amount of money, stop answering altogether