Retd Brigadier downloads app via WhatsApp link and ends up losing 4 crore to scammers

In another case of cyber fraud, a retired brigadier from Panchkula, Haryana lost a whopping Rs 4.2 million after downloading an app from WhatsApp. The victim downloaded a phishing app via a link attached to a seemingly harmless WhatsApp message. The message offered the victim an opportunity to make extra money through an exchange scheme, a tactic that scammers have been using to deceive people for several months.

According to the incident reported by Indian Express, the victim received a WhatsApp message promising him valuable insights and tips on stock market investments. The message included a link to download an app that purported to provide real-time stock market trends and investment advice. The victim found the message compelling and credible and decided to download the app because she wanted to learn more about the opportunity. After downloading the app, the victim was persuaded by the scammers to invest in stock market programs that appeared to offer promising returns.

The victim initially fell for the scammers’ words and invested over Rs 1 crore in the scheme. Later, the victim also involved his wife in the investments and the couple transferred a total of Rs 4.2 million to several bank accounts provided by the fraudsters. For a while, everything seemed legitimate, with constant updates and convincing communication from the scammers.

However, when the victim decided to withdraw his investments, suspicions grew. When the victim asked for a withdrawal, the fraudsters demanded an additional commission of Rs 65 lakh for processing the withdrawal. This demand made the victim realize that he had been deceived and prompted him to file a complaint with the Haryana Cyber ​​Crime Police.

After receiving the complaint, Haryana Police launched an investigation and quickly discovered that the operation was part of a larger international fraud network. According to the report, the masterminds of this sophisticated cyber fraud were based in the US and the UK. These fraudsters carried out a well-coordinated operation and used the bank accounts of individuals from rural border villages in India to launder the stolen money. Account holders were paid small commissions between Rs 4,000 and Rs 10,000 for every Rs 100,000 transferred through their accounts.

Such cases in particular are becoming increasingly common as fraudsters increasingly use digital platforms such as WhatsApp, online banking apps and investment services to specifically target individuals. As authorities work to crack down on these criminal networks, it is important that the public remains vigilant to avoid falling victim to such scams.

Here are a few security tips you should follow to protect yourself from similar scams:

– Be wary of unsolicited messages or calls offering financial advice or investment opportunities. Always verify the authenticity of the source before clicking on links or downloading apps.

– If an investment plan sounds too good to be true, it probably is. Remember that reputable investment platforms are usually regulated and registered with financial authorities. Avoid apps or websites that are not subject to clear regulatory oversight.

– Scammers often use high-pressure tactics to force their victims to make quick decisions. Always take time to do research and seek advice from trusted financial advisors before making any investment.

– To protect your devices from phishing attacks, install security software and regularly update your phone and computer to protect them from malicious apps and links. For added security, enable two-factor authentication on your bank and investment accounts.