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Karnataka online trading frauds
Mannd admins answered queries to build trust. An admin later shared a trading app link, which Kumar downloaded, assuming it was genuine.
Cybercrime News & Case Studies
Karnataka online trading frauds: Losses skyrocket from Rs 23 crore in 2022 to Rs 903 crore by mid-2024
Many educated professionals, especially Bengaluru techies, have been duped by fake broking apps promising high returns or IPO allocations. In April, Saurav Kumar saw a stock investment ad on Facebook and joined a WhatsApp group that led to a fake trading app scam.
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Investment Fraud — Udupi man loses ₹49 lakh
A 72-year-old man and his family lost ₹49 lakh in an online investment scam. They were lured via WhatsApp into transferring money for fake stock market gains. When they tried to withdraw, fraudsters demanded more.
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Karnataka loses ₹219 crore to ‘Digital Arrest’ Fraud since 2023
Karnataka has lost ₹219.58 crore to ‘digital arrest’ fraud over the past three years. Scammers pose as police officers, forcing victims to transfer money under false pretexts.
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Karnataka elderly couple loses ₹50 lakh to cyber scam, dies by suicide
An elderly couple in Belagavi lost over ₹50 lakh to fraudsters posing as officials. The scammers accused them of SIM misuse, forcing them to transfer funds, leading to tragic consequences.
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