Woman loses Rs 33 lakh in online share trading scam: Here’s how you can protect yourself

Online scams are becoming increasingly common, and anyone can fall victim to them, regardless of their experience or background. A recent case from Pune highlights how even educated professionals can be deceived by fraudulent schemes promising quick returns. A 41-year-old woman, working as a manager at a software company lost Rs 33.4 lakh in an online share trading scam.

It all started when the woman was exploring stock market investment opportunities on social media when she came across a Kerala-based company claiming to offer high returns. A person posing as an executive from the company contacted her, explaining lucrative investment options in IPOs and shares. To make their offer seem credible, they even provided her with a link to download an app supposedly for investment purposes.

Also read: Surat businessman loses Rs 5 lakh in currency exchange scam: How to protect yourself

Initially, the woman invested a small amount, and the scammers returned a portion of it to gain her trust. Encouraged by the apparent profits, she continued to transfer money, eventually sending Rs 33.4 lakh to multiple bank accounts provided by the fraudsters. However, when she tried to withdraw her funds, she was not able to do so and scammers also pressured her to invest more money.

Also read: Mumbai woman loses Rs 1.5cr to fraudsters posing as govt officials: Here’s what happened

How to avoid such scams

• Verify sources: Always research thoroughly before investing in any company. Look for verified reviews and licenses.
• Avoid unsolicited offers: Be cautious of investment offers received through social media or unknown contacts.
• Use trusted platforms: Only invest through reputable and well-known trading platforms.
• Don’t share sensitive information: Avoid sharing personal or financial details over calls or unverified apps.
• Be sceptical of high returns: If an offer sounds too good to be true, it probably is.