Make Big Money Investing In This App!

Online scams are starting to affect people at an unprecedented rate, with many unsuspecting victims regularly falling prey to the scammers’ innovative methods and being swindled out of their money. In a recent incident, a Mangaluru-based man lost Rs 25,000 to a fake trading app.

According to a TOI report, the victim was initially contacted on Instagram in September this year on the pretext of an opportunity to earn money through an alleged stock trading app. The modus operandi of this scam is to gain the victim’s trust and then stop communicating once they’ve invested in the scam, and that’s exactly what happened in this case as well.

The report adds that the victim was given seemingly easy tasks and the scammers paid the victim for the same. As a result, once the trust was established, the victim invested substantial sums of money in four different cases – Rs 50,000, Rs 4.5 lakh, Rs 15,000 and Rs 5,000.

However, when the victim was unable to withdraw the “investment”, he began to doubt the application and realized what had happened. In total, the victim lost Rs 25,000 and a case has been registered at the CEN police station.

Job Scams, Investment Scams: How to Stay Safe

It goes without saying that due diligence should be done before investing in any system, regardless of the source – whether near or far. Meanwhile, many forget the fact that these scammers have become skilled and competent in preying on people and mastering the art of earning trust before taking money away.

If you come across an opportunity where the other party tries to lure you in with attractive (unrealistic) offers and promises of larger-than-life returns in a short period of time – be careful – as these are most likely scams.

Also, avoid sharing sensitive information such as national identity cards, bank OTPs and even your address, as other scams, such as fake delivery scams, rely on obtaining this information to carry out their modus operandi.