Mumbai Woman Loses Lakhs in 4-Day Telegram Investment Scam: Essential Safety Tips for Vigilance
A woman from Nahur, Mumbai, has fallen prey to a sophisticated online trading scam that resulted in a loss of over ₹3.86 lakh within just four days. Lured into a Telegram investment group, she was promised guaranteed returns by individuals posing as stock market mentors. After initially engaging in small trades, she was convinced to transfer larger sums, only to discover that her attempts to withdraw funds were met with silence, prompting her to seek help from authorities.
Details of the Scam
The scam unfolded between December 22 and 25, starting with small trial investments of ₹120 and ₹200. The scammers, operating through a Telegram group, shared fabricated screenshots of profits to build trust with the victim. Encouraged by these apparent gains, the woman transferred larger amounts using various UPI IDs and bank accounts provided by the fraudsters. However, when her profits ceased and her withdrawal requests went unanswered, she realized she had been deceived and reported the incident to the police.
Authorities have since traced 11 bank accounts linked to the scam, revealing a systematic approach to siphoning off funds. The total loss was categorized into three stages: ₹93,700 from initial small transactions, ₹1,93,130 in the second phase, and ₹1,00,000 in the final transfer. An FIR has been filed under the Information Technology Act, along with relevant provisions of the Bharatiya Nyaya Sanhita (BNS), and investigations are ongoing.
Warnings from Authorities
Investigators have highlighted the growing prevalence of such scams, which often masquerade as legitimate investment communities. Scammers frequently impersonate SEBI-registered advisors or foreign investors, enticing victims to download apps that mimic real trading platforms. Victims are led to believe they are investing in genuine stocks or IPOs, only to find that the apps disappear when they attempt to withdraw their funds. Despite ongoing warnings from SEBI and law enforcement agencies, these scams continue to ensnare individuals, including those with prior investment experience.
Police Advisory
In light of this incident, authorities are urging the public to exercise vigilance when engaging with trading tips or investment offers on platforms like Telegram, WhatsApp, or social media. Key recommendations include avoiding platforms that promise guaranteed profits, verifying that brokers or trading platforms are registered with SEBI, and not relying solely on profit screenshots or testimonials. Additionally, individuals are advised against transferring money to multiple or personal accounts and are encouraged to report any cyber fraud immediately to enhance the chances of recovery. Citizens can contact cybercrime helplines by dialing 1930 or file complaints online at cybercrime.gov.in.
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