Economic Offences Wing to probe investment app scam
Victims of the FQL investment app scam in southern Tamil Nadu have filed petitions with the Economic Offences Wing after losing significant sums of money. The fraudsters lured rural residents with promises of doubling their investments, using local agents to build false credibility.
Why it matters
This highlights the growing threat of digital financial fraud targeting vulnerable, non-tech-savvy populations in rural areas.
Scores of victims of the FQL investment app scam, which surfaced last week, from southern districts, including Madurai, Sivaganga, and Dindigul, filed petitions at the weekly grievance meeting held at the Collectorate here on Monday.
Police said the victims of the scam were concentrated in Melur area of Madurai and Natham in Dindigul, while additional losses were reported at Singampunari in Sivaganga and Samayanallur and Alanganallur in Madurai. The scamsters operated through local agents, and the investment application lured rural residents by falsely promising to double their money.
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