SM Users Easy Prey For Cybercrooks: Official
Fraudsters often operate from abroad using fake websites and encrypted apps, which look almost professional. Officials stressed that awareness and early reporting are key to preventing losses.
Hyderabad: The City Cyber Crime Unit (CCCU) has cautioned citizens about rising online trading frauds where scammers lure victims through social media with false promises of quick profits. ACP R. G. Siva Maruthi said fraudsters contact people on Facebook, Telegram or WhatsApp, posing as investment advisers and offering fake trading opportunities.
“They build trust with constant messages and screenshots of fake profits. Once convinced, victims invest small amounts, and the scammers display manipulated returns to make them believe the platform is genuine,” the officer said. When victims try to withdraw funds, fraudsters demand extra payments as ‘processing fees’ or ‘taxes.’ “These are tactics to extract more money. By the time the victims realise, they’ve already lost their savings,” he explained.
The officer added that scammers use fear to control victims, threatening to freeze accounts or take legal action if they refuse to pay. “These tricks make victims panic and pay again,” he said.
Citizens were urged to be alert and verify investment platforms through SEBI or official channels before sending money. “If it looks too good to be true, it probably is,” the ACP said, advising people to stop immediately at the first sign of doubt and contact cybercrime police.
Fraudsters often operate from abroad using fake websites and encrypted apps, which look almost professional. Officials stressed that awareness and early reporting are key to preventing losses.
Public Advisory on Online Trading Frauds
• Verify the authenticity of trading platforms and investment advisors before investing.
• Avoid unsolicited links or offers on social media.
• Do not share bank details, OTPs, or UPI PINs with anyone.
• Never pay “processing” or “withdrawal” fees to claim profits.
• Treat delayed or blocked withdrawals as red flags.
• Stay calm if threatened — legitimate firms never use intimidation.
• Report suspected frauds to the National Cyber Crime Helpline (1930) or cybercrime.gov.in.