Navi Mumbai Cyber Fraud: Scammers Steal ₹5 Crore Through Fake Facebook Stock Ad
Cybercriminals are constantly developing new methods to trap victims, and a shocking case has emerged from Navi Mumbai, where a 70-year-old retired government officer lost over ₹5 crore in a fraudulent stock investment scheme promoted via Facebook Ads.
How the Fraud Happened
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Fake Facebook Ad: The victim came across an attractive investment ad on Facebook, promising high returns in the stock market.
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Fake Trading App: He clicked the link, filled in his details, and began investing in a fraudulent stock trading app.
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False Profits & Small Withdrawals: Initially, the app allowed him to withdraw small amounts, building trust in the platform.
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Larger Investments: Convinced of its authenticity, he invested ₹4.7 crore through his wife's demat account.
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Account Frozen: When his account showed ₹12.2 crore in profits, he attempted to withdraw funds but found his account frozen.
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Repeated Transaction Failures: After multiple failed withdrawal attempts, he realized it was a scam and reported it to the police.
How to Protect Yourself from Online Investment Scams
✔ Beware of Unrealistic Promises: Scammers lure victims with guaranteed high returns—legitimate investments always have risks.
✔ Verify Before Investing: Always cross-check trading apps on the official SEBI (Securities and Exchange Board of India) website before investing.
✔ Avoid Clicking on Unverified Ads: Many frauds begin with social media ads—never enter your details on untrusted sites.
✔ Use Reputable Trading Platforms: Stick to well-known, SEBI-registered platforms like Zerodha, Upstox, or Groww.
✔ Keep Personal & Financial Data Private: Never share bank details, PAN, Aadhaar, or passwords with unverified sources.
✔ Double-Check Before Making Payments: Always confirm through official websites and avoid direct payments to unknown accounts.
✔ Report Suspicious Activity: If you suspect fraud, immediately report it to cybercrime.gov.in or call the 1930 helpline.
Final Warning
Scammers are increasingly targeting elderly individuals with sophisticated schemes. Stay vigilant, educate your family, and always think twice before investing online.
