The story of a man duped of 29 lakh showcases the dangerous realities of online trading fraud. The victim, a 40-year-old man from Yousufguda, initially encountered the fraudsters on Facebook, who then added him to a fake WhatsApp group named F55 Fortune Skye. The group appeared genuine, with over 200 members, and the victim proceeded to deposit huge amounts of money into bank accounts presented as being linked to SEBI-registered entities. The fraudsters forced the man to pay an unreasonable 18% fee, and then a 20% tax, all while displaying a balance of 42,86,947 on a fake trading application named RCLPMA. However, the victim was never allowed to withdraw any funds, and the money instead was diverted to charity. The investigation revealed that the WhatsApp group was largely controlled by the fraudsters, who posed as investors to mislead genuine participants. This case highlights the importance of understanding the ramifications of online trading and the reality of online investment scams.
Hackers and cybercriminals could easily target individuals by gaining access to smartphones and other devices where such private identification information is stored, leading to complications and fraud cases.
