Mangaluru, Karnataka: In another alarming case of cybercrime, a Mangaluru man has lost ₹8.3 lakh to online fraudsters through a fake investment trading advertisement circulated on a social media platform. The case has been registered at the Dakshina Kannada Cyber Economic and Narcotics (CEN) police station.
How the fraud unfolded
The complainant, Ramesh H K, stated that on July 15 he came across a Facebook advertisement promoting an investment trading opportunity. On clicking the link, he was redirected to a WhatsApp group where the fraudsters instructed him to download a trading application.
He was further asked to complete Know Your Customer (KYC) formalities and provide his bank account details. Following their directions, Ramesh transferred a total of ₹8,30,000 into multiple bank accounts provided by the scammers, under the impression that he was investing in a legitimate trading platform.
Realisation of fraud
After making the transfers, Ramesh attempted to withdraw his money along with the promised returns. However, the fraudsters refused to release the amount and instead demanded additional deposits to process the withdrawal. It was at this point that he realised he had fallen victim to a scam and promptly approached the police.
Legal action initiated
Based on his complaint, the CEN police have registered a case under Sections 66(C) and 66(D) of the Information Technology Act and Sections 318(4) and 319(2) of the Bharatiya Nyaya Sanhita (BNS) Act. Investigations are underway to trace the fraudsters and recover the cheated amount.
Rising trend of cyber fraud
Authorities have noted a sharp rise in online investment scams, with fraudsters increasingly using social media platforms to lure unsuspecting victims with promises of high returns. Cyber experts caution users to verify the authenticity of online investment platforms and avoid sharing personal or banking details without thorough checks.
Police advisory
The police have urged citizens to remain vigilant, report suspicious online schemes immediately and cross-check the credentials of any financial service before making payments.
Conclusion
With cybercrime cases on the rise, the police are intensifying awareness campaigns and technical surveillance to curb such fraudulent activities. Victims are advised to report incidents promptly to increase the chances of recovering lost funds and bringing offenders to justice.