A young IT professional from Ahmedabad has become the latest victim of a sophisticated cyber fraud, losing a staggering sum of Rs 14 lakh in an online investment scam orchestrated through WhatsApp. The incident highlights the growing menace of financial frauds targeting young, tech-savvy individuals.
The Modus Operandi: A Trap Set on WhatsApp
The victim, a 22-year-old BTech graduate working at an IT firm and residing in Paldi, filed a formal complaint with the city's cybercrime police on Tuesday. According to his statement, he was added to a WhatsApp group that aggressively promoted high-return stock market trades. The group administrators presented themselves as representatives of a legitimate, registered investment company, building an illusion of credibility.
The fraudsters shared daily stock market tips within the group to gain the trust of members. They then directed the complainant to download a specific application via a provided link. Following instructions, he uploaded his identification documents and completed the registration process on the app, unknowingly handing over personal data to criminals.
Building False Trust and Escalating Investments
The scam was designed with a psychological trap. The victim initiated his investment with two transfers of Rs 50,000 each into bank accounts shared by the group admins. The fraudulent application displayed fake profits, creating a convincing facade of a successful trade.
To cement his belief in the scheme, the fraudsters processed small withdrawal requests. When these minor amounts were successfully credited back to his bank account, his confidence soared. This classic 'confidence trick' led him to invest larger sums over the following days.
Blinded by the promise of high returns and the apparent legitimacy shown by the small successful withdrawals, he made multiple transactions ranging from Rs 50,000 to Rs 3 lakh. In total, he transferred a massive Rs 13.75 lakh using the IMPS (Immediate Payment Service) method.
The Final Blow and Police Action
The scheme collapsed when the victim attempted to make larger withdrawals. The app suddenly stopped processing his requests. At this point, the group administrators allegedly asked him to deposit even more money. When he hesitated or questioned, they removed him from the application and the WhatsApp group. All subsequent calls and messages went unanswered.
Realising he had been cheated, the young professional first contacted the national cyber helpline and filed an online complaint. He then approached the Ahmedabad Cybercrime police station, providing crucial evidence including screenshots of the chats. The Cybercrime police have registered an offence under sections for cheating and criminal breach of trust. A technical investigation is now underway, analysing the phone numbers, chat records, and the recipient bank accounts used in the fraud.
This case serves as a stark warning for citizens to be extremely vigilant of unsolicited investment offers on messaging platforms. Experts advise verifying the credentials of any financial entity through official channels like SEBI and never transferring money to unknown accounts based on promises of unrealistic returns.
