Hyderabad: Netizens in the city are continuing to fall for cyber frauds, leading to a collective loss of crores of rupees.
In two different instances, two residents of Hyderabad lost huge amounts of money to online fraudsters who posed as stock trading experts and telecom officials. Despite the efforts made by the state machinery to spread awareness against cybercrimes, cyber fraudster continue to steal large sums of money from non-suspecting individuals.
In one case, an Ear Nose Tongue(ENT) surgeon was cheated with Rupees 8.60 crore in an investment fraud where the scammers exploited the doctor’s interest in stock trading. According to the police, the victim came across a trading related advertisement on Facebook and upon filling up the details and signing up for the trading page, he got calls from scamsters who were posing to be executives of Goldman Sachs, JP Morgan Chase Securities, among many.
The scamsters, after earning the victim’s trust by sending returns on investment in the initial phases, motivated the victim to ‘invest’ larger sums. From May to August 2024, the victim invested Rs 8.60 crore in the apps the scammers instructed him to.
The victim eventually understood that he is being scammed, when he tried to withdraw returns of the investment in a large number. The fake agents started threatening the victim when he tried to so, alleging tax deductions has to be made. This led the victim to lodge a complaint at the cybercrime police. Police investigation is underway.
In another case, a 47 year old man resident of Hyderasbd was duped with Rupees 1 lakh, threatening the victim with false charges of money laundering including other incriminating allegations. Fraudsters called the victim posing as Telecom department officials from Mumbai.
They alleged the victim for a criminal case, and to get protection from the case and arrest, fraudsters demanded money, which sent to them by the victim out of fear.
There has also been a related incident of young unemployed Indians are being trafficked to Cambodia on the pretext of providing data entry jobs in Singapore sheds light into the big business of cyberfraud against Indians. Thousands of Indians are stuck in the foreign country, where they are forced and tortured to perform cybercrimes against Indians.
Cybercrime police are under constant vigil in efforts of helping the citizen and their money and data. You can report any cybercrime at the tollfree number 1930 or on the website https://cybercrime.gov.in/ .
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