Hyderabad: The Telangana Cyber Security Bureau (TGCSB) has cautioned citizens against a growing form of online investment fraud in which fraudsters use dating and social networking platforms to establish emotional relationships with victims before luring them into fraudulent investment schemes promising huge returns.
In a recent case reported to TGCSB, a fraudster approached a victim through the Tinder dating application, introduced herself as a foreign national and gradually developed familiarity through WhatsApp conversations. After discussing personal and family matters, the fraudster established an emotional bond and gained the victim’s trust.
She later claimed to be earning substantial income through a Facebook/Meta-related advertising programme and persuaded the victim to invest in the purported opportunity. A link was shared to download an application, where the victim was initially shown apparent profits from transactions.
Rs 3.35 cr transferred over 55 days
Believing the claims to be genuine, the victim continued investing and was persuaded to deposit increasingly larger amounts to complete transactions and earn higher profits. Over about 55 days, he transferred a total of Rs.3.35 crore, believing the money was being invested through the online earning platform.
When he later attempted to withdraw the funds, the fraudsters demanded additional money towards “credit points”, claiming his credit score had been reduced. The demand raised the victim’s suspicion and exposed the fraudulent nature of the platform.
Based on his complaint, the TGCSB registered a case under relevant provisions of law and launched an investigation to identify those involved and trace the money trail.
TGCSB advised citizens to exercise extreme caution when strangers met through dating apps, matrimonial platforms, or social media quickly develop personal relationships and subsequently introduce investment opportunities. Fraudsters may use fake identities, emotional manipulation, fabricated success stories and fake trading applications displaying artificial profits.
