Sri Vijaya Puram, July 29: The Andaman and Nicobar Police have issued a public advisory warning citizens against a growing wave of online investment scams involving fake stock market trading websites, fraudulent mobile applications and deepfake advertisements circulated on social media platforms.
According to the advisory, cyber fraudsters are using sponsored advertisements featuring deepfake videos and images of prominent personalities on platforms such as Facebook, Instagram and Google to attract unsuspecting users. These advertisements redirect users to fraudulent WhatsApp and Telegram groups falsely posing as legitimate stock trading communities, investment advisory platforms or financial consultants.
Police said the fraudsters circulate stock market tips, conduct so-called live trading classes and promise guaranteed profits through assured Initial Public Offering (IPO) allotments. Victims are persuaded to open so-called institutional trading accounts and are subsequently directed to install fake trading applications through links shared via app stores or APK files.
To gain the confidence of victims, cyber criminals initially provide small payouts before convincing them to invest larger sums. They then ask investors to transfer money into Indian mule bank accounts. Once a substantial amount has been deposited, the fraudsters stop all communication, leaving victims with significant financial losses.
The police have urged residents to remain vigilant and verify the authenticity of any investment platform before making financial transactions.
Safety Advisory Issued by Police
The Andaman and Nicobar Police have advised citizens to:
- Exercise extreme caution while clicking sponsored advertisements on Facebook, Instagram and Google that promote investment groups on WhatsApp or Telegram.
- Be wary of fraudsters impersonating Foreign Institutional Investors (FIIs), financial advisors or reputed financial institutions.
- Never share sensitive financial information, including bank account details, OTPs or internet banking credentials, with unknown individuals or organisations.
- Remain sceptical of investment schemes promising guaranteed returns or unusually high profits, as such offers are often fraudulent.
The police have also urged the public to report any suspected cyber fraud immediately to improve the chances of recovering lost funds.
For assistance, complaints or information related to cybercrime, citizens can contact the Cyber Crime Police Station, Andaman and Nicobar Islands, through the National Cyber Crime Helpline (1930), the A&N Police Helpline (9531856083) or register complaints on the National Cyber Crime Reporting Portal.
