SP Cautions Public Against Rising Online Investment Frauds
The SP explained that scammers initially collect small investments and show fake profits to gain trust before persuading victims to invest larger sums
KURNOOL: Kurnool district superintendent of police Vikrant Patil on Tuesday warned the public against the growing threat of online investment frauds.
He said cyber criminals are luring victims with promises of high returns, exclusive IPO opportunities and cryptocurrency trading profits. Fraudsters are using platforms such as WhatsApp, Telegram and Facebook to create fake investment groups and trap unsuspecting investors.
The SP explained that scammers initially collect small investments and show fake profits to gain trust before persuading victims to invest larger sums. Once the money is transferred, they cut off all communication.
Patil advised people to verify whether an investment company or platform is registered with the SEBI before investing and urged the public to remain vigilant against schemes promising unusually high returns.