A resident of Shankaranarayana in Udupi district has been defrauded of more than Rs 13 lakh in a sophisticated online investment scam that promised unrealistic profits from the share market.
The Lure of Quick Profits on Social Media
The victim, identified as Vishwanatha, first encountered the scam on October 30. He saw a reel on Facebook with the title 'SBICAP Securities'. This advertisement aggressively promoted the potential for excellent profits from stock market investments within a single month. Intrigued by the promise, Vishwanatha clicked on a 'joining' button linked to the reel.
This simple action set the trap in motion. His mobile number was automatically added to a WhatsApp group named 'Securities Discussion Group'. Soon after, he received an 'applicant registration form' on his WhatsApp number, which he proceeded to fill out.
How the Fraudsters Executed the Scam
After submitting the form, Vishwanatha was directed to a website with the URL http://www.sbiadvancedbrokeractqaj.com. On this portal, he entered sensitive personal information, including his mobile number, bank account details, and a login password. Trusting the setup, he made an initial investment transfer of Rs 9.2 lakh to a specified bank account.
The fraud escalated when he attempted to withdraw his supposed investment and profits. The scammers informed him that he first needed to pay a 20% commission. In return, they dangled an irresistible offer: a total payout of Rs 38 lakh. Believing this, Vishwanatha transferred another Rs 3.9 lakh on December 15.
The Final Demand and Police Action
Despite the payment, the promised funds never materialized the next day. Instead, the fraudsters made one more audacious demand. They asked Vishwanatha to deposit an additional Rs 4.2 lakh, this time described as tax on a Rs 28 lakh profit.
This final demand triggered his suspicions. Realizing he had been cheated, Vishwanatha approached the Shankaranarayana police and filed a formal complaint. The police have registered a case under relevant sections of the Information Technology Act and the Bharatiya Nyaya Sanhita (BNS), specifically Sections 66(C), 66(D) of the IT Act and 318 (2), 318(3) of the BNS.
This incident serves as a stark warning for online users. Investors should be extremely cautious of unsolicited investment offers on social media, especially those guaranteeing high returns in short periods. Always verify the authenticity of financial platforms through official channels before transferring any money.
