INVESTMENT FRAUDS

Investment frauds are two types

 

1. Trading investment frauds

2. Part time job-investment frauds

 

In the last year 2024, in Telangana state itself, our gullible citizens have lost about 611 crores in trading investment frauds which is 32% of total siphoned off money of 1866 Crores by cyber criminals and about 490 crores in part time job investment frauds. Unfortunately, in both Telugu states, this crime is rampant, and most victims of this crime are software employees, and professionals like reputed doctors, retired bureaucrats, pensioners etc.

 

How this crime happens?

 

Trading Investment Frauds:

 

In these frauds also, the fraudsters pose as professional stockbrokers having their own stock investment platforms approach the victim through various social media channels mostly what’s app, Telegram, Face Book etc. Usually, they represent big stockbroking companies like 1) JP Morgan Chase securities, 2) Goldman Sachs company, 3) Man Group, 4) UBS Securities company regarding Stocks Trading and if any prospective victim shows interest, they will call him over WhatsApp and introduce themselves as professional stock brokers representing big investment companies as above. Thereafter, ask him to fill his details in the websites of aforementioned companies which are fake and look like the genuine investing companies.

 

The following are some fraudulent websites links through which the fraudsters have conned the gullible victims to the tune of crores of rupees.

 

App Links:

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l) https://apps.apple.c01n/app/id6496204490    

   (JPMorgan Chase securities)

 

2) https://goldnnan-svip.cc 

(Goldman Sachs coinpany)

 

3)https://app.skleor.com 

(ManGroup Company)

 

4)https://illio.store/ubs/ond 

(UBS Securities company)

 

 

Upon enquiring about victim’s willingness on stocks trading, the fraudsters start communicating with victim through WhatsApp chats by adding him in WhatsApp Groups i.e, VIP3 Guidance exchange group .JP Morgan Chase securities), G7/Stock Savants (Goldman Sachs company), EE23.ManGroup Icarning analytics group (ManGroup Company), VIP.N0110681 UBS (UBS Securities company etc.

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In this fake what’s app investment groups, the other members who are none other than henchmen of fraudsters keep post their fake profit receipts which they have got on the advice of these fake advisors to induce the vicitm.  

They introduce about their stock broking companies, which specialises in institutional trading for the profit made by investors. They claim to be sub-brokers for prominent institutions, yet conduct real-time trades through their application, thereby preventing average investors from raising suspicions.

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If any victim questions about necessary documentation such as tax registrations and accreditation from regulatory bodies like NSE and BSE, they assure that all requirements will be duly fulfilled. They inform the victim that as institutional investors, they are bound by confidentiality agreements and hence, could not disclose detailed information about the company. They shared below mentioned app links to start investing in their companies by installing the applications for trading platforms.

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Thereafter, as per their advice, the victim invested in the above fake trading platforms and give him profits and access to withdraw amounts for few times from asset amount. This is a bait for the gaining the trust of the victim.

Later, they guide the victim to invest over the stocks they advice but through their above websites only. Having believed them, victim start sending money to different accounts on the advice of fraudsters and they show his invested money doubled in their fake websites. Indeed, they never buy stocks and to deceive the victim they display the investment is doubled as if genuinely they show in original stock broking companies.

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They make victim to invest till he exhausts then, whenever he asks for withdrawal of his profits, they ask for another 20% on profit dividend. Since the fraudsters keep on asking victim more for short term gain tax payment of another 30 % on profit or any for any other reason for allowing withdrawal of profits, the victim realizes that he is conned and by that time his money be gone and we never trace the main fraudsters as the actual cyber criminals usually Chinese sit in Cambodia and other southeast Asia countries, crate these deceptive websites and design the crime and looting crores of rupees from gullible public. As and when money is sent to accounts of money mules, they immediately withdraw it and converted into Crypto and leave no trace. As such, once lose the money, its almost impossible to retrieve unless the money left in the accounts.  

 

It’s important to know that the fraudsters create fake website link for aforementioned companies, they create almost all stock investment companies like, HDFC securities, Kotak Securities and ICICI securities etc.

 

 

Part time job investment frauds:

 

Having had the data of crores of citizens, obtain through various fraudulent means, initially, the Cyber Criminals approach victims through various online social media platforms i.e Telegram, whatsapp, Instagram, and Facebook by advertising Part Time jobs promising a guaranteed income of 2000- 5000 Per day. The sequence of fraud happens like this.

 

1. Initially, the victim receives a message that would like to earn 2k to 5k a day by doing a part time job. Once, he shows the interest, the fraudster sends a link to the victim’s mobile phone.
    

2. Whenever the victim opens that link, it leads to what’s app where fraudster says Hi, and when victim responds, the fraudster calls him and explains him that he would give a Job of reviewing a website or watching a YouTube video for which victim will be given money.
    

3. Then, fraudster sends a link to victim tells him that if he reviews it send a receipt to him, and he would be given money. Thereafter, when victim clicks the link, it leads to a fake website or YouTube and after reviewing it, a reference number and receipt will be generated. Later, when victim send the receipt to fraudster through what’s app, he calls and inform the victim that he would be given money by his receptionist and ask him to contact her through a link send by him.
    

4. When such link is opened, he will be taken to a telegram app and a lady calls victim, and ask for reference number and his bank account details. When victim sends reference number and his account details, she sends money ranging from Rs. 150 to 500. Likewise, victim will be given some money and his confidence be gained by the fraudsters.
    

5. Thereafter, real story starts. After gaining confidence of a victim, the fraudster asked him into invest in prepaid tasks. Thereafter, victims will register themself in the websites created with Chinese domains and will be given a task to perform, where the victim’s amount has continuously been showing as profits, but he won't be given withdrawal option. Indeed, there never be a profit as shown on the website. It’s just a digital deception to con the victims. When victim insists for withdrawal of profits, they start asking him to pay more money on the pretext of profit tax, dividend tax, etc and siphon off all money sent by the victims.

 

Thereafter, all fake websites, what’s app, and other communications will disappear.

Apart from this modus operandi, the victims are duped in another way. He will be given PREPAID TASK and will be added to a group of– OKX DATA TASK (https://t.me/+QmJclUtbBYc1NjFk) on Telegram and ask victim to finish prepaid task initially with Rs 1000 and after viewing some websites and videos, they will deposit money genuinely. Later, again with more tasks, ask to deposit more money, as and when victim deposit more money, it shows the money was added to his account, but he can’t withdraw. To get back his profit amount, he will be asked to deposit more money in the name of tax, or unfreeze charges etc. ultimately, by the time victim realizes that he was duped, all of them vanished and the links they send disappear.

 

The victim usually believes the fraudsters that the amount being paid to them through account to different current accounts of Indian entities. However, all these account holders never know the crime, it’s perpetrators and they are just money mules and provide their accounts on commission basis through third parties.

The actual cyber criminals usually Chinese sit in Cambodia and other south East Asia countries, crate these deceptive websites and design the crime and looting crores of rupees from gullible public. As and when money is sent accounts of money mules, they immediately withdraw it and converted into Crypto and leave no trace. As such, once lose the money, its almost impossible to retrieve unless the money left in the accounts.  

 

 

PRECAUTIONS TO BE TAKEN TO AVOID THESE BOTH CRIMES

 

1. First of all, never communicate with the strangers on online offering Part time jobs/Investment options.

 

   2. No stock investment company can give huge returns in days or months. Investment. You will be tricked easily as           fraudsters are well prepared and more professional to give you answers for your queries as you are not fully                 aware of stocks and investments.

 

   3. A simple and basic enquiry with the concerned stock company or any other reputed stockbrokers over phone,             chat or email and importantly a physical visit will save your hard-earned money.

 

   4. When you are interested in investing in stocks, you should have basic study over stocks. There are best video               tutorials like RACHANA RANADE, ZERODA etc are available. You must acquire basic knowledge before you invest.

 

   5. A simple common sense of how the money doubled in days even best of the best stock investment companies             can’t make, will save your day. Your GREEDINESS is your death trap as your life will be upside down once you lost         lakhs and crores of rupees.