A man from Kerala has become the victim of a cyber fraud, losing a staggering amount of Rs 4.05 crore over a two-and-a-half-month period. The scam reportedly originated through a message received on WhatsApp.
The victim, a 45-year-old man from Tripunithura, received a message on WhatsApp from someone posing as a representative of a well-known financial services company. The message enticed him with the prospect of lucrative investment opportunities and high returns through share trading.
Here’s what happened
As per the FIR seen by TOI, the victim was contacted via WhatsApp. The scammer claimed that the victim could earn huge profits by engaging in share trading through an app developed by the company. The scammer convinced the victim to invest in a fraudulent scheme by promising high returns and quick profits. The victim was lured into downloading the “Br-Block Pro” app, through which they made multiple payments.
Between September 26th and December 9th, the victim made several payments to the fraudulent app, believing that their investment would generate returns. However, after several weeks of investing, the victim realised he couldn’t withdraw any funds from the app. This prompted him to suspect foul play and ultimately led him to file a complaint with the cyber police. The Kerala police are currently investigating the case.
Tips to avoid investment scams
- Never download apps from unknown sources. Only download apps from official app stores.
- Be wary of unsolicited investment offers. If something sounds too good to be true, it probably is.
- Research any investment opportunity thoroughly before committing any money.
- Do not share your financial information with anyone you don’t know and trust.
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