The surge in fraudulent investment schemes has prompted Bengaluru’s cyber crime police to form a specialized team to investigate such cases. Over four months, Bengalureans lost Rs 197 crore to these schemes, with 735 cases registered and no recovery made. Victims, driven by greed for quick money, fall prey to Ponzi schemes promising unreasonably high returns. Fraudsters use various tactics, including fake apps and mule accounts, making it challenging for authorities to track them. Police urge caution, advising against investing in suspicious links or sending money to unknown sources, and encourage victims to report scams promptly.
Rise in Stock Investment Fraud Cases Sparks Concern in Bengaluru
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