In a recent incident, a 45-year-old man from Panchkula lost Rs 4.7 lakh after falling prey to a stock market investment scam.
The victim came across a seemingly lucrative investment opportunity while scrolling through Facebook.
The advertisement promised good returns on stock market investments.
Online scams are becoming increasingly common, with fraudsters constantly finding new ways to deceive unsuspecting victims. In a recent incident, a 45-year-old man from Panchkula lost Rs 4.7 lakh after falling prey to a stock market investment scam.
The victim, identified as Pushkar Sharma from Amravati Enclave, came across a seemingly lucrative investment opportunity while scrolling through Facebook, reports TOI. The advertisement promised good returns on stock market investments, which caught Sharma’s attention. Intrigued, he clicked on the link provided in the ad, which led him to join two WhatsApp groups.
Also read: Ghaziabad couple loses Rs 3 crore in Facebook-linked investment scam: Tips to stay safe
After joining the groups, Sharma was advised to download an app called “GSIN” to start trading stocks.
This unfortunate incident serves as a reminder of the growing number of online fraud cases and the need for heightened awareness.
How to protect yourself from such scams
- Verify the source: Before clicking on any online advertisement or link, make sure it’s from a reputable source. Fraudsters often create fake ads that mimic legitimate companies to lure victims.
- Research the investment: Always research thoroughly before investing money. Check for reviews, consult with a financial advisor, and look for any red flags such as promises of guaranteed high returns.
- Be cautious with WhatsApp groups: If you’re added to a group by strangers, be sceptical of any advice or links shared. Scammers often use WhatsApp groups to create a false sense of community and trust.
- Report suspicious activity: If you suspect you’re being scammed, report the activity to the authorities immediately. Early reporting can help prevent further losses.
- Educate yourself about common scams: Stay informed about common types of scams and fraud tactics. Awareness can help you recognise suspicious behaviour and avoid falling for fraudulent schemes.
Online investment scams are on the rise, and it’s essential to stay vigilant to protect your hard-earned money.
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Ayushi Jain
Tech news writer by day, BGMI player by night. Combining my passion for tech and gaming to bring you the latest in both worlds. View Full Profile
