International Cyber Gang Busted for Duping People via Fake Apps & Online Trading Scams | Rourkela

Summary

This video highlights a growing online trading scam, where fraudulent trading apps lure users with promises of high returns. The scam operates through fake advertisements, often featuring celebrities like Nawazuddin Siddiqui. The app claims users can double or quadruple their investments, but it’s a trap. Police investigations reveal a major operation involving fake trading apps, with authorities seizing SIM cards, mobile phones, ATM cards, and other financial documents. The scam spans multiple countries, and law enforcement has frozen significant amounts of money. Authorities caution the public against trusting unverified trading platforms and urge vigilance.

Takeaways

• 😀 Fake online trading apps are being promoted via social media, with celebrities like Nawazuddin Siddiqui used in deceptive advertisements.
• 😀 These fake apps promise high returns, such as doubling or quadrupling users' investments, causing financial losses.
• 😀 The police have uncovered a gang operating fraudulent online trading schemes, targeting users across various countries including India, Pakistan, and Bangladesh.
• 😀 The gang used multiple SIM cards, mobile phones, ATMs, and other resources to run the scam, which involved fake trading platforms.
• 😀 The fraudsters operated in small teams, misleading users with false advertising and trading promises.
• 😀 The police have seized numerous items, including 68 SIM cards, 31 mobile phones, 19 ATM cards, and several bank passbooks and chequebooks.
• 😀 The fraudulent apps were hosted on Google Play Store, luring people with promises of easy profits through online trading.
• 😀 The mastermind behind the scheme is a 26-year-old individual named Kishan Agarwal, a UAE citizen, who was operating the scam from Raipur.
• 😀 The fraudsters have frozen 41 lakh rupees in 23 bank accounts as part of their operations, using these funds from the scam.
• 😀 Authorities warn that online trading apps should only be trusted if approved by organizations like SEBI or RBI, to avoid falling for scams.

Q & A

What is the main topic discussed in the transcript?

The transcript discusses a police operation uncovering a fraudulent online trading scam involving fake apps, misuse of celebrity endorsements, and financial fraud.

What type of scam is being highlighted in the script?

The script highlights a scam related to fake online trading apps that lure people into investing with promises of quick returns, only to defraud them.

Which celebrity's image is being misused for fraudulent advertising in the scam?

The celebrity whose image is misused for the fraudulent advertisements is Bollywood actor Nawazuddin Siddiqui.

What materials did the police seize during their investigation?

The police seized multiple SIM cards, mobile phones, ATM cards, passbooks, checkbooks, and a scooter during their operation.

What kind of fake activities were being carried out by the criminals?

The criminals were promoting a fake trading app through online advertisements, using fake testimonials and misleading claims about high returns on investments.

Which countries were involved in the operation related to the scam?

The scam affected people not only in India but also in countries like Pakistan, Bangladesh, and Nepal.

How did the police trace the fraudulent activities?

The police traced the fraudulent activities by investigating digital financial transactions and identifying multiple bank accounts associated with the scam, freezing significant amounts of money.

How much money was involved in the scam according to the police investigation?

The police froze approximately 41 lakh rupees from 23 bank accounts during the investigation.

What precautions did the police suggest for avoiding such scams?

The police advised individuals to be cautious of online trading platforms that are not approved by regulatory bodies like SEBI or RBI and not to trust unverified apps offering unrealistic returns.

What role did Kishan Agarwal play in the scam?

Kishan Agarwal, a 26-year-old mastermind, was involved in operating the fraudulent online trading platform. He had obtained citizenship in the UAE and operated the scam from Raipur, India.