700-Crore Cyber Fraud How to Stay Safe?
The Hyderabad Police has unearthed a mega fraud ring involving Chinese handlers in which at least 15,000 Indians were duped of over ₹ 700 crore in less than a year.
The Hyderabad Police has recently unearthed a massive fraud ring involving Chinese handlers that duped thousands of Indians out of a staggering ₹ 700 crore in less than a year. This is a shocking development that has left many vulnerable citizens in India out of pocket and struggling to make ends meet.
The fraudsters, who were based in China, used social media platforms and messaging apps such as WhatsApp to target unsuspecting Indians with lucrative offers. They lured people with promises of high returns if they invested in their fake schemes, such as cryptocurrency and multi-level marketing. The victims, most of whom were from small towns and villages, were asked to transfer money through digital wallets and other online payment methods.
The fraudsters then went to great lengths to cover their tracks by using multiple bank accounts and shell companies. They also used proxy servers to hide their location and identity.
The Hyderabad Police has arrested several people involved in the scam and have recovered over ₹ 20 crore that was transferred to their accounts.
This massive fraud is a wake-up call for all citizens in India to be vigilant about online scams. Everyone should be aware of the tactics used by fraudsters and take necessary precautions to protect themselves and their money. It is also important to remember that if something looks too good to be true, it probably is.