The Kolkata Police has issued an urgent public warning about a sophisticated WhatsApp investment scam operating under the name of the State Bank of India. Fraudsters have created multiple fake WhatsApp channels pretending to be SBI officials, resulting in financial losses exceeding ₹1 crore across West Bengal in just the last 72 hours.
How the Elaborate Scam Operates
According to police reports, the criminal operation was actually planned back in August-September, though the majority of victims have come forward recently. The scammers create WhatsApp groups with official-sounding names like 'SBI Securities Group -Q-6' and pose as bank representatives offering expert investment guidance and promising high returns.
In one heartbreaking case from Thakurpukur in Behala, a 58-year-old bank customer lost a staggering ₹58 lakh after falling for the promise of easy investment returns. The scammers persuaded the victim to download a fake application named '(public sector bank's name) Securities' and join their WhatsApp group.
Another senior citizen, a 76-year-old man from Kalighat, was cheated of ₹57 lakh by fraudsters impersonating senior bank officials. In this sophisticated operation, the criminals created multiple fake profiles posing as various bank and government authorities to gain the victim's trust.
Victim Stories and Modus Operandi
The first official complaint came from Neetika Bhatia, who received a link to download what appeared to be a legitimate SBI investment app. After joining the WhatsApp group, she was convinced to make several online transactions totaling ₹31,06,730. When she attempted to withdraw her funds, the scammers denied her access, revealing the fraudulent nature of the operation.
In the second reported case, the criminals used a more complex approach by impersonating multiple officials to create an illusion of legitimacy. They convinced the victim to transfer ₹57,20,000 through various online transactions before disappearing.
Bank Advisories and Public Warnings
The State Bank of India has released a detailed advisory clarifying that they do not offer stock market tips or investment advice through such channels. "It has come to our attention that certain unauthorized entities and individuals are circulating sponsored advertisements and messages, falsely claiming to offer stock market tips and investment advice," the bank stated in their official warning.
SBI emphasized that they do not authorize any person or entity to offer such services on their behalf and do not run schemes promising unrealistically high returns.
The warning extends beyond public sector banks. Private banking giants HDFC and ICICI have also issued similar alerts about scammers misusing their names. HDFC specifically warned about "fake and fraudulent advertising material and brochures for inviting investments in non-existent schemes of HDFC Mutual Fund."
ICICI Direct noted that unknown persons claiming to be part of their organization are soliciting trading services through various online platforms, urging customers to be "cautious and vigilant" against such impersonators.
The Kolkata Police advises citizens to verify any unsolicited investment advice through official bank channels and never transfer money to unknown entities promising guaranteed high returns.
