Elderly citizens emerging as prime targets in cyber frauds

Cyber criminals are increasingly targeting elderly citizens in Hyderabad, using fake investment, loan, and trading schemes to siphon off large sums. Authorities warn seniors to verify offers, avoid unknown accounts, and seek family support for online financial transactions.

Hyderabad: Of late, the growing trend of the elderly citizens being systematically targeted by cyber criminals and duping large sums of money is raising concerns.

Recent cases in the city reveal that scammers are exploiting the trust and limited digital awareness of senior citizens to siphon off lakhs of rupees through investment, loan, and trading scams.

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In one of the latest incidents, a 63-year-old retired person was cheated of over Rs 43 lakh after receiving WhatsApp messages from fraudsters posing as executives of a reputed financial institution.

The gang lured him with promises of discounted IPO shares and fake trading dashboards, eventually forcing him to make repeated transfers under the pretext of additional investments and loan repayments.

Cybercrime officials say such frauds are becoming increasingly common, with criminals using sophisticated tactics such as fake websites, cloned customer support numbers and polished financial jargon to appear credible.

“Many victims only realize the deception after exhausting their savings or when they are unable to withdraw their so-called profits,” said a cybercrime official.

Investigators noted that elderly persons, especially those with retirement benefits or independent savings are being specifically profiled and approached via unsolicited calls, WhatsApp or Telegram groups, and emails.

“Once hooked, the fraudsters maintain constant contact, building trust before executing the fraud. Awareness is the first line of defense. If an offer sounds too good to be true, it usually is a trap or fake one,” the official said.

Cybercrime officials have urged senior citizens to remain cautious about unsolicited investment offers, verify the authenticity of financial platforms. They advise to avoid transferring money to unknown accounts and further appealed to the family members to educate and support elderly relatives in navigating online financial transactions.