Mohali: Cyber fraudsters have swindled more than Rs 30.1 crore from residents of Punjab over the past four months, according to police reports. During this period, law enforcement has registered 13 major cases involving fake investment schemes, visa scams, bogus job offers, property frauds, loan-related cheating, and honey traps.
Major Cases Registered
Based on complaints received, First Information Reports (FIRs) have been filed at the cyber crime police station and the state cyber crime police station in Mohali. The largest case involves Ludhiana businessman Jagdeep Singhal, who allegedly lost Rs 19.8 crore after being lured into a fake cryptocurrency trading scheme. Police stated that the accused contacted him through social media and persuaded him to invest via a fraudulent trading platform promising high returns. Investigators discovered that the money was routed through 75 fake bank accounts spread across 15 banks.
In another significant case, Hoshiarpur resident Taranjit Singh Bhalla reportedly lost Rs 3.6 crore after being induced to invest in a company called "Atalia." The accused allegedly used forged documents bearing the names of the Securities and Exchange Board of India (SEBI) and the Reserve Bank of India (RBI), promising returns of 3% per month. When the victim sought his money back, he was allegedly threatened.
Rise in Honey Trap and Social Media Frauds
Police have also reported an increase in honey trap and social media-linked frauds. In one instance, a young man was allegedly extorted of Rs 4.5 lakh after fraudsters posing as a woman on Instagram threatened to circulate an objectionable video. In another case, a woman lost Rs 70,000 after investing through a link sent on Instagram.
Job Scams and Property Frauds
Fraudsters also targeted job seekers by offering fake railway jobs and overseas employment opportunities. Several victims were duped of lakhs of rupees after being promised work visas for countries such as Canada, Australia, and Georgia. Additionally, a couple from Kharar allegedly cheated six people of nearly Rs 1.5 crore by advertising a bungalow on social media and collecting advance payments for a property that was not registered in their name.
Police Advisory
Police have urged the public to verify investment, employment, and immigration offers before parting with money. "Greed, haste, and unverified online offers are among the most powerful tools used by cyber fraudsters. Awareness and caution remain the best defense," an official stated.
Tricks of the Fraud
- Bungalow that was never for sale: A couple from Kharar allegedly cheated six individuals of nearly Rs 1.5 crore by advertising a bungalow for sale on social media and collecting advance payments. The property was later found to be registered in the name of another person.
- Fake trading app: Four people were defrauded of Rs 27.9 lakh through a fake online trading platform called 'HSBS Capital.' The fraudsters initially showed profits to gain the victims' trust, but later blocked access to their funds and disappeared.
- Overseas employment: Several victims were cheated under the pretext of securing overseas employment. Fraudsters collected lakhs of rupees by promising work visas for countries such as Georgia and Australia. In another case, several people collectively lost around Rs 10 lakh after being promised Canadian work visas.
