india employmentnews

Be careful of these scams on Instagram, retired banker duped of 88 lakhs


Recently, a retired bank employee was allegedly duped Rs 87.6 lakh by cyber fraudsters who convinced him to invest in stock trading in Nagpur, Maharashtra. Police have registered a case under the Indian Penal Code and Information Technology Act based on his complaint.

A 60-year-old man received a message from his daughter's Instagram account, suggesting that he could earn huge returns by investing after completing an online course on a specific app. He downloaded the app, completed the course on May 16, and started receiving investment suggestions from various companies. Trusting these suggestions, he transferred Rs 87.6 lakh to the bank accounts of three companies through Immediate Payment Service (IMPS). When he did not get any returns, he realized that he had been cheated.

Another similar scam

In April, a 29-year-old woman from Karnataka lost over Rs 11 lakh to online fraud when she was lured into performing a task. In her complaint to the Bellary police, she said that she came across a task offer while browsing her Instagram account on April 26. Initially, she got returns on her small investments, which encouraged her to invest more by luring her with promises of lucrative returns. She then invested Rs 35,000, Rs 1 lakh, Rs 1.77 lakh, Rs 3 lakh, and Rs 5 lakh on different dates till May 4. When she did not get any returns, she complained to the police. Avoid fraud on Instagram Often, fraudsters deceive people into giving money or sensitive information. They may create fake accounts or tamper with existing accounts.

Today we are going to tell you about some of those scams that you should be careful of.

Job scams: Misleading or fake job postings may attempt to obtain your personal information or money. These may seem appealing but ask for an advance payment. Be wary of links that lead to unrelated websites or ask for sensitive information without using safe browsing.

Lottery scams: Scammers impersonate someone you know or a legitimate organization, claiming you are a lottery winner who must pay a small fee to receive the prize. They may ask for personal information to verify your identity before sending the lottery.

Loan scams: Messages and posts offering instant loans for a small fee at low interest rates are common. Scammers may disappear after receiving an initial payment or ask for more money, promising a larger loan.

Charity scams: Pretending to represent charities, orphanages, or religious figures, scammers ask for donations.

Commerce scams: Fraudsters claim to sell goods or services online at incredibly low prices, urging you to take the conversation to other channels. After receiving payment, they stop responding, and the goods never arrive. They may be pressured for quick action and request payment via cryptocurrency.

Follow our Whatsapp Channel for latest update