Hyderabad: Don’t fall for online investment frauds, official tells public

Hyderabad: Cyber fraudsters are cheating people by luring them with a fake online investment plan called ‘MG Online’ by promising high returns for investments. Though such fake investment fraud plans initially show high returns for online investments, they can never be withdrawn, police officials warned.

A senior official from the Cyberabad Cybercrime wing warned people against the fake investment fraud and asked them not to believe in messages or calls that ask them to share their bank details or invest in apps online. Fraudsters send bulk phishing messages with links about quick money and every day easy returns, with everyday income, to random people.

They also lure with bonuses on addition of more people in the investment scheme. “Do not click on such phishing links sent on mobile phones. Do not reveal your account details to anyone and do not download any application without knowing its purpose and authenticity,” the official said, adding that people should not transfer money to accounts of unknown persons or accounts without verifying.

Fraudsters initially show profits in the ‘Virtual Account’ of the individual and after gaining the confidence of the investor; they further lure them into investing more money and suddenly disable the link.

“Your account details could be accessed by the fraudsters through applications which you download without your knowledge and thereby you may be cheated,” the official said.
“It is always advisable to never invest money in such kinds of applications or schemes. Do not respond to any links or messages regarding investments with high returns and part time job offers,” he added.

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