Mira-Bhayander: Banker Loses ₹31 Lakh To Online Stock Fraud

Mira-Bhayander: A 43-year-old banker living in Mira Road became the latest target of cyber-fraudsters who cheated him of more than Rs.31 lakh under the guise of offering tips which could be used to reap lucrative profits in stock trading. In his statement to the police the complainant, who works as an executive officer with a multinational investment banking company, said that he received a message from an unidentified person on his WhatsApp number on 20, January 2024 to know if was interested in entering the stock trading business. After the complainant answered in the affirmative, he was added to a WhatsApp group. While interacting with one of the group admins the complainant was asked to click a link for installing a trading application for earning huge profits on his investment on the virtue of free buy and sell tips of various stocks.

The complainant fell for the trap and transferred a total of Rs.31.10 lakh to specified bank accounts within a span of three months  between 20, January to 19 April, this year. Although the application displayed that the invested amount had fetched  profits, the complainant was unable to withdraw the money. He contacted the admin who told him that the withdrawal was possible only if he transfers another Rs. 5 lakh.

When the complainant expressed his inability, his number was removed from the group and the application became inoperative. Realising he was cheated; the banker immediately registered a complaint with the cyber cell following which an offence under the relevant sections of the IPC and Information Technology Act was registered at the Naya Nagar police station in Mira Road against the cyber crooks on Saturday.

Further investigations were on. The MBVV police has been advising citizens not to click on unsolicited links, share personal details like one-time passwords (OTP) and refrain from conducting financial transactions with strangers who have been floating fake investment schemes on the platforms of social networking sites.