Online trading scams are a growing threat, preying on people’s desire to invest and potentially make a profit. A 48-year-old man from Thane has become the latest victim of an online share trading scam, losing Rs 94 lakh.
Here’s how the man was scammed
According to an online report, the victim came across a WhatsApp group named “The Value Team A 13.” Members of the group posed as “experts” and dished out tips on making money through the stock market.This initial interaction built a sense of trust and authority, making the scam more believable.
The scammers then reportedly tricked the victim into using links and applications provided by them, bypassing legitimate investment platforms. These fraudulent applications likely gave the scammers access to the victim’s online accounts, allowing them to transfer 94 lakh through multiple bank transfers.
Only after losing a significant amount of money did the victim realize he had been scammed. He then approached the Khadakpada police station in Thane to report the crime.
Here are some safety tips to keep in mind
Follow the below mentioned safety tips in order to protect yourself from this kind of online fraud.
– Never invest based on unsolicited advice, especially from unknown sources like social media groups.
– Always conduct thorough research before investing in any stock or financial product.
– Only use legitimate trading platforms recognised by regulatory bodies.
– Be wary of applications or links provided by unknown individuals or groups.