Thursday, September 23, 2021
HyderabadCrooks cash in on people's desire to make quick money: Cops

Crooks cash in on people’s desire to make quick money: Cops

Published: 24th Jul 2021 11:36 pm

Hyderabad: Cybercrimes in Hyderabad are steadily increasing, with cyber crooks trying out different tricks to fleece the gullible. One of the most frequent tricks in recent times is investment frauds, of which there are at least two to three incidents being reported every week.

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According to Cybercrime officials, it is observed that in all investment frauds, fraudsters cash in on the greed in people, mostly youngsters and homemakers who want to make some quick money.

Recently, a woman from the old city was cheated to the tune of Rs 1.8 lakh by cyber fraudsters who lured her in the guise of quick and high returns for investments in the ‘WishMall’ app. In another incident, they cheated a woman from Moosarambagh to the tune of Rs 3.6 lakh promising high returns for investments in the share market. Likewise, a woman techie was cheated with a promise of investments in a popular software firm. There were several people who were on a fake online investment application called ‘Eshop Job’ after fraudsters promised high returns for investments.

Cyberabad Cybercrime ACP K Balakrishna Reddy said the crooks were smart in convincing people that investments in schemes with quick and high returns were the only solution to all financial problems. “Once the money is collected, they disappear,” he said.

Usually fraudsters approach people with a few popular schemes, which include investments in reputed companies offering 10-20 per cent high returns, investments in real estate, bit coins and the share market. They call the potential targets with offers to invest in franchises of reputed firms or in gold stocks. They collect money and then switch off the phones.

“The money the public is losing through such cybercrime is more than that lost in regular crimes,” the ACP said, adding “The Cyberabad Police is taking petitions from public at all the local police stations and filing criminal cases and investigating.”

Cybercrime can also be reported to the Cyberabad Cybercrime Police on 9490617310 or Cyberabad WhatsApp No: 9490617444.

Also read:

Hyderabad: Cyber crooks lure people with online investment app called ‘Eshop Job

Hyderabad: Don’t fall for online investment frauds, official tells public

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