In a stark reminder of the evolving threat of cyber financial crime, a 73-year-old resident of Kaikhali in Kolkata has been defrauded of a staggering Rs 1.5 crore in a meticulously planned online investment scam. The case underscores the sophisticated methods now employed by fraudsters to target unsuspecting individuals with promises of unrealistic returns.
The Anatomy of a Sophisticated Scam
The ordeal for the senior citizen, a businessman, began in early September when he was approached by fraudsters through a WhatsApp group. The accused, whose identities remain under investigation, lured him with promises of highly lucrative returns from stock trading. They introduced him to a seemingly legitimate online platform named AcsTrade, which was, in reality, a completely fake operation.
To build credibility, the scammers conducted multiple tutorials using PowerPoint presentations, explaining the workings of their fraudulent scheme. Convinced by the professional facade, the victim downloaded the AcsTrade mobile application as instructed.
A Web of Lies and Fabricated Profits
The app was designed to perpetrate the deception seamlessly. Its interface was consistently updated to mirror the live stock market, displaying fabricated but convincing growth in the victim's investments. This created an illusion of genuine trading activity and mounting profits.
The fraudsters then activated a deceptive mechanism. They showed the victim false profits and subsequently demanded payment of a loan amount and a membership service fee from his own funds. They claimed this payment was necessary to release his initial investment along with the promised massive returns. Over a period, trusting the false data on the app, the businessman made multiple transactions totaling Rs 1.5 crore into bank accounts provided by the criminals. The devastating reality of the scam dawned on him only later, when he realized he could not retrieve any money.
Kolkata Police's 15-Point Shield Against Fraud
In response to this incident and a rising trend of similar online financial frauds, the Kolkata Police has issued a comprehensive 15-point guideline for public safety. These guidelines are a crucial resource for anyone considering digital investments.
The police strongly emphasise the critical need for verification:
- Always verify the identity of any financial agent or advisor. Check their official ID, licence number, and registration status with the relevant authorities.
- Cross-check all investment-related information through official government portals or reliable, recognised websites and applications.
- Maintain organised copies of all documents, transaction receipts, and communication related to your investments.
The advisory also highlights major red flags that investors must avoid:
- Avoid signing any document without reading and completely understanding its contents and implications.
- Be extremely wary of offers that use pressure tactics or promise "quick approval," "special limited-time offers," or "guaranteed high returns." These are classic hallmarks of fraudulent schemes.
This case serves as a critical warning. As fraudsters continuously refine their methods, investor vigilance and adherence to official guidelines are the first and most important lines of defense against devastating financial losses.
