An astonishing cyber fraud case has emerged where criminals tricked a former IPS officer out of ₹8.10 crores. Following the incident, the officer, Amar Singh Chahal, shot himself and is undergoing treatment in Patiala.
What clever tactics did the cybercriminals use to deceive even an experienced police IG? Let's explore the intricate details.
Fake CEO Photo on WhatsApp
The culprits operated in an organized manner. They used the photo of a well-known company CEO on a WhatsApp account, arousing no suspicion.
The suicide note mentions the gang operated under the names F-777 DBS Wealth Equity Research Group on WhatsApp and Telegram.
Numerous Claims and Documents
To trap the victim, the fraudsters made false claims associating themselves with DBS Bank and its CEO. Enticed by promises of high returns, the victim was lured with claims such as stock trading, IPO allotments, OTC trading, and quantitative fund profits.
Fake Dashboard and Virtual Wallet
To deceive further, they concocted a fake dashboard showing imaginary shares, investments, and profits. Convinced of earning big, the victim became entrapped, making numerous transactions.
When the Scam Unraveled
Attempting to withdraw his substantial earnings revealed the scam's nature, as more payments for processing and taxes were demanded. Payment made, yet no returns, realization dawned that he was duped. The officer's note expressed immense grief, economic loss, and mental anguish.
Identifying Fake Investment Groups
Spotting fraudulent groups is not difficult, focusing just on a few signals.
Guaranteed Daily Returns: Promising returns ranging 3-5 thousand per day.
Doubling Investments: Claims of doubling money in a short time attract naive victims.
Initial Small Returns: To gain trust, they may offer small returns initially, like giving 1500 on investing 1000.
Presents Fake Profits: Many get misled by virtual wallet displays of fake gains.
Push for Quick Investments: Pressured into hastily investing, victims lose substantial sums.
Recognizing Cyber Scammers
Identifying cyber fraudsters is straightforward. Retrieve the advisor’s registration number and other details from SEBI, verifying on the SEBI website. Ensure the advisor or company appears in the SEBI Registered list.
Avoid clicking unfamiliar links—these might hack your device or install harmful apps.
Refrain from sharing personal and bank information with unknown individuals, including OTPs and UPI PINs.
Stay alert and protect your finances from the growing menace of cyber fraud.
