IT professional loses Rs 42 lakh to cyber fraud; know how to avoid falling prey to online scams

There has been a surge in online scams that aim to deceive and defraud people of their money.

Recently, an IT professional in India fell prey to cyber fraudsters and lost over Rs 42 lakh despite being tech-savvy.

Here is how the fraud was executed and tips to keep you safe from such scams.

According to a report by the Press Trust of India (PTI) based on information from the police, a software engineer from Gurugram Sector 102 was targeted by cyber fraudsters who sent him a message on WhatsApp offering a part-time job promising easy money.

The victim was later added to a Telegram group allegedly run by a woman named Divya.

The victim was persuaded by the group members to invest his money, with the promise of guaranteed returns.

The victim was enticed by the promise of easy money and ended up transferring Rs 42,31,600 from his and his wife's bank accounts. As per the victim's complaint cited in the report, "After agreeing to work with them, a woman named Divya added me to a Telegram group and asked me to invest money with the guarantee of high returns. They even assigned me a task as a cover-up, and I eventually transferred a total of ? 42,31,600 from our joint accounts."

At first, the victim was told that he had made a profit of Rs 69 lakh.

But when he attempted to withdraw the money, the fraudsters asked him to pay an additional Rs 11,000.

Upon realising that he had been deceived, the victim lodged a complaint against the scammers on the Telegram group with the police.

The police have filed an FIR against unidentified fraudsters under applicable sections of the Indian Penal Code (IPC) and the Information Technology (IT) Act. 

How to Avoid Falling Prey to Online Scams

1. Be cautious of attractive offers that promise high returns with little effort.
2. Conduct proper research, read reviews, and verify the credibility of individuals, companies, or platforms before investing your money.
3. Seek advice from trusted sources before making any investment decisions.
4. Keep your devices, software, and antivirus programs updated to minimize the risk of malware attacks.
5. Avoid clicking on suspicious links or downloading attachments from unknown sources.
6. Report any suspicious activity or unsolicited requests to the relevant authorities.
7. Stay alert, cautious, and informed to protect yourself from falling victim to online scams and frauds.