In a shocking incident, a 28-year-old officer from the National Defence Academy (NDA), Pune, fell victim to an elaborate online share trading scam, resulting in a loss of Rs 57 lakh. The scam unfolded through a fraudulent call, purportedly from the securities trading platform of a well-known private sector bank in India.
The unfortunate chain of events began when the officer, seeking to explore stock trading options online, was approached by an individual claiming to represent a reputable bank’s trading platform. The officer was lured into joining various WhatsApp groups dedicated to share trading tips, where promises of high returns on stock investments were made.
According to Inspector Yusuf Shaikh of Uttamnagar police station, where the First Information Report (FIR) was filed, the officer conducted nine transactions between February 26 and March 22, totaling Rs 59.77 lakh. To entice further investments, the scammer returned Rs 2.47 lakh to the officer. The scam came to light when the officer attempted to withdraw Rs 40 lakh but was asked to pay a hefty commission, which led to the realization that he had been duped.
The police have initiated an investigation into the case, marking a significant development in what local authorities describe as an ‘epidemic’ of online trading scams in Pune. These scams have exploited the names of various wealth management entities and investors, both Indian and international, to deceive victims. The first two months of the year alone saw 110 people losing a combined total of Rs 18 crores to such fraudulent schemes.
Officials warn the public to exercise caution and verify the credibility of online trading platforms and advice, as cybercriminals increasingly use sophisticated methods to target individuals with promises of high returns and financial prosperity. The case serves as a grim reminder of the risks associated with online financial activities, urging a more vigilant approach to digital investments.
Name of officer?
This is wrong information.
What’s the right info then?