MUMBAI: Despite ongoing awareness efforts by cyber security agencies, fraudsters continue to evolve, using fake websites, counterfeit apps, and impersonation tactics to deceive unsuspecting victims.
A 64-year-old pensioner is the latest victim to fall to cyber fraudsters who orchestrated a sophisticated investment scam through WhatsApp groups titled “F2-MSF SecuritiesCharity Aid” and “VIP-MSF SecuritiesCharity Aid”. The scammers utilised a fraudulent trading application “QuantsAIS” to display fabricated profits, ultimately deceiving her of Rs 49 lakhs.
The fraudulent operation, occurring between November 20, 2024, and January 5, 2025, involved several perpetrators claiming to represent “MSF SecuritiesCharity Aid“. The suspects were identified as Sovit Dwivedi, Aaliya Gaur, and Aisha Sharma, who communicated with the victim via WhatsApp using various mobile numbers.
The perpetrators enticed the victim to participate in their WhatsApp groups, where they advertised lucrative stock trading opportunities. They instructed her to establish a virtual trading account on “QuantsAIS”, manipulating the platform to show fictitious investment gains.
Under the pretence of boosting returns, the scammers coerced the victim into transferring Rs 49.10 lakhs across multiple bank accounts, with none of the promised returns materialising. The scammers vanished after the final transfer, leaving the victim financially devastated.
The victim submitted WhatsApp conversation screenshots and additional documentation to the Cyber Police Station, Central Division, Worli. Law enforcement initiated an investigation targeting the identified suspects and associated bank account holders involved in receiving the fraudulent funds.
The victim lodged a complaint with the Central Cyber cell, which registered an FIR against unknown mobile number holders and is trailing the money transactions.
Cyber security officials have issued advisories urging the public to exercise caution regarding such investment proposals, particularly those promoted through unverified social media groups and unofficial trading applications.