Beware of investment scams! Scammers can cheat lakhs by claiming high returns, know tips to stay safe!

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Scams and scammers are increasing with each passing day, adopting various tactics to defraud people and often promising tempting returns. Recently, a software engineer from Bengaluru became a victim of a scam and lost Rs 50 lakh. The National Cyber ​​Crime Portal (NCCP) reveals many such cases where people have lost money in the pursuit of higher profits.

How scammers operate in investment fraud:

Scammers often initiate contact through WhatsApp, Telegram, or foreign phone numbers, sometimes even through social media. They lure victims by promising substantial returns. Initially, if small amounts are invested, they may provide returns once or twice. After this, they convince the victim to invest more and promise higher returns. Once a significant amount is invested, the scammers disappear and block all contacts.

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Tips to avoid falling into scams:

1. Choose reliable investment sources: Invest only through reliable and reputed platforms.

2. Verify links: Be careful while clicking links in WhatsApp, email, or Telegram. Verify their authenticity.

3. Consult financial advisors: Consult a financial advisor before making any investment decisions, especially if the returns look great.

4. Consider low-risk options: For those who are risk averse, consider investing in bank fixed deposits, government bonds, and government schemes. These options offer security and guaranteed income.

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Increasing cases of fraud:

According to the Reserve Bank of India, 13530 banking fraud cases were reported in the financial year 2023, which is a significant increase from 9097 cases reported in the financial year 2021-22. Scams are a constant threat to the financial security of individuals. Be cautious and exercise caution when considering investment opportunities.