Online trading trap! Why are Indians falling prey to fraudsters again and again? Know how to avoid this fraud of crores.

Online Trading: Online trading scams in India have become one of the fastest spreading cyber crimes today.

Online Trading: Online trading scams in India have become one of the fastest spreading cyber crimes today. Fraudsters lure innocent people using professional-looking fake apps, websites, WhatsApp groups and pictures of celebrities. They promise up to 100% returns, which quickly lures people. Initially, when people invest a little money, they are shown fake returns. Sometimes, trust is also won by sending money to the bank account. But when people invest a large amount, these scammers disappear, and it becomes almost impossible to get the money back.

How does this fraudulent system work?

The strategy of these fraudsters is very clever. They weave such a trap that even a common person gets trapped easily.

Fake apps and websites: They create exact copies of real trading platforms that look very professional. These apps show false profits and force people to invest more.

WhatsApp/Telegram groups: People are added to fake trading groups where fake success stories are shared. Here the other members of the group are also people of the fraudsters who show themselves as successful investors.

Celebrity abuse: These fake platforms are made to look reliable by misusing the pictures of famous personalities like Sachin Tendulkar, Ratan Tata or Mukesh Ambani.

Lure of extraordinary profits: Users are lured with 5–10% returns daily which is not possible on any real trading platform.

Still why do people get trapped?

Especially senior citizens or inexperienced investors often do not understand the risks associated with high returns. Since Covid, people are looking for ways to earn quick money. Many people do not even check whether the app or website is real or fake. Seeing others in the group making profits, people also start investing themselves.

How to protect yourself from this cyber fraud

The biggest way to avoid such fraud is awareness and vigilance. These few steps can ensure your safety.

Use only SEBI-registered platforms, choose only regulated apps like Zerodha, Groww, Upstox.

Check before downloading the app: Read the ratings, reviews and developer details carefully on Google Play Store or App Store.

Avoid greed, a scheme that looks too good may not be real.

Giving your PAN, Aadhaar or bank details on an unknown link or app is not free from danger.

Report any fraud on cybercrime.gov.in or lodge a complaint at your nearest cyber police station.

Don't be greedy, be smart

Online trading can really be profitable, but only on regular and reliable platforms. If you transfer money to an unknown account, that money may never come back. In many cases, people lost their entire life savings and the police could do nothing.