In a significant development, Mangaluru’s CEN (Cyber Economic and Narcotic) police have arrested two individuals from Kerala involved in a cyber fraud that swindled a victim of over Rs 77 lakh through fake stock market investment schemes.

The accused first contacted the victim on WhatsApp, promising substantial returns from stock investments. Trusting the fraudulent claims, the victim transferred Rs 77,96,322.08. Investigations revealed that a portion of the funds, Rs 26,27,114.4, was transferred to a bank account in West Bengal.

Through further tracing, authorities tracked down Umar Valiyaparambath, 41, and Riyas M V, 45, both from Kannur, Kerala. Umar was identified as the mastermind, while Riyas facilitated the withdrawal process, offering the victim a commission for their involvement.

Both suspects have been arrested, and the investigation continues to uncover any additional individuals involved in the scam.

The operation was led by Mangaluru Police Commissioner Anupam Agrawal, IPS, and DCP (Crime) Siddhartha Goyal, with crucial support from ACP Ravish Naik and other officers.

How to Protect Yourself from Scams

Vigilance is crucial to avoid falling prey to similar frauds. Always be cautious when receiving unsolicited calls or messages claiming lucrative investment opportunities. Remember, police will never ask for money or initiate cases online. The concept of “digital arrest” is a fabricated term used by scammers—if you encounter such threats, it’s undoubtedly a scam.

Never share sensitive information like bank details or OTPs over phone calls or messages, and always report suspicious activities to the authorities and your bank. Early action can significantly reduce the risk of further losses.

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