A 30-year-old medical staff member in Berhampur has allegedly been defrauded of over ₹20.50 lakh through a sophisticated fake online trading and investment scheme. The victim had been transferring money to a fraudulent trading application between June 10 and July 11, police reported.
The incident came to light after the victim filed an FIR (First Information Report) at the local cyber police station on Friday. A case has been registered under Sections 318 (4) of the Bharatiya Nyaya Sanhita (BNS) Act and 66D of the Information Technology (IT) Act.
According to police investigations, the scam began last month when the victim received a call on a social media platform, followed by a link that appeared to be from a popular online trading firm. The caller promised substantial profits from investments. Initially, the victim did receive some profitable returns, which encouraged him to invest larger sums. Over the course of a month, from June 10 to July 11, he invested over ₹22.50 lakh, transferring the money to four different bank accounts as instructed by the fraudsters.
The victim’s suspicions were raised when he attempted to withdraw a promised ₹80,000 bonus from his investment but found himself unable to access either the funds or the associated bank accounts. The scammers had initially assured him a return of ₹3 lakh for an investment of ₹1 lakh.
Berhampur SP Saravana Vivek M emphasized the ongoing challenge of cybercrime, stating, “We have repeatedly urged people not to invest their money on any online trading firm without proper verification. Despite this, people continue to fall prey to cybercriminals. If anyone identifies himself as an officer of TRAI or CBI and starts threatening you, immediately bring it to the police’s notice.”
Police are actively investigating the case to identify the fraudulent trading company and are attempting to freeze the involved bank accounts, suspecting their involvement in other online frauds.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter |The Mainstream formerly known as CIO News Whatsapp Channel | The Mainstream formerly known as CIO News Instagram
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
