Cyber Police issue advisory against fake share investment frauds

The Cyber Police have issued an advisory against rackets orchestrating massive fake investment frauds through the social media by exploiting the names of prominent stock trading institutions.

In an official release, the police stated that fraudsters are luring the public by creating and circulating AI-generated videos of prominent stock market figures and corporate heads on platforms like Facebook and Instagram, promising lucrative returns.

Persons who show interest by clicking on such fake advertisements are added to WhatsApp and Telegram groups under the pretext of teaching them trading in the share market.

Subsequently, the perpetrators send links to fraudulent applications mimicking leading trading companies, and compel the victims to download them. Investors who open accounts on these fake apps and websites are then persuaded to deposit funds in a phased manner.