Hyderabad: If an unknown person adds you to a WhatsApp or Telegram group, offering anything from jobs to higher return on investment or even stock market tips, just complain and block the numberSuch invitations are the first step to a financial fraud. If the user engages them, these groups about the profits you can make on stocks, currency markets, cryptocurrencies and other supposed means of quick money, solicit your investment and vanish once you have paid up.This is the patron in a rising number of online scams that are targeting individuals through WhatsApp and Telegram groups and communities. Scammers have been luring unsuspecting people into fraudulent investment schemes, resulting in the loss of significant amounts of money.These groups are typically controlled by fraudulent administrators who skillfully gain the trust of participants.An IT employee recently got added to a WhatsApp community group named “Global AI Stock Discussion Group”, run by an admin named Chandra Takal. The man claimed to be an expert in “combining AI intelligence for short-term trading, easily profiting in the market and avoiding risks” and providing tips and tricks to people to invest in shares and initial public offers (IPOs).Recently, a retired employee from Hyderabad was scammed of Rs 13.26 crore after he was added to a WhatsApp group and was lured into investing money through shady investment portals.In August, another Hyderabad-based man lost more than Rs 5.40 crore in a similar scam. The man was added to a stocks information group and was lured into investing money. He trusted the admins after receiving a return on his initial investment of `30,000 and invested more money.Experts advised people to exercise caution when added to unknown groups and not to trust unsolicited investment advice.Harisha K., a developer and cybersecurity expert said, “Scammers are becoming increasingly sophisticated with their tactics. They create an illusion of credibility by populating groups with fake members who promote their schemes.” She also said, “Always verify the authenticity of any investment opportunity before transferring money and be wary of offers that seem too good to be true.”
Source link
