Hyderabad: Police warn against investing in ‘Vestas Wind’

Hyderabad: With several people being cheated in the name of investment apps, the police have warned against investing in the ‘Vestas Wind’ investment app which is quite popular on social media. According to Cybercrime officials, it was observed that in all investment frauds, fraudsters bank on the greed in people, mostly youngsters and homemakers. “They […]

Hyderabad: With several people being cheated in the name of investment apps, the police have warned against investing in the ‘Vestas Wind’ investment app which is quite popular on social media.

According to Cybercrime officials, it was observed that in all investment frauds, fraudsters bank on the greed in people, mostly youngsters and homemakers. “They successfully convince the victim to invest and assure quick and high returns, which are the only solution to financial problems. Once the money is collected, they switch off the phones and go absconding,” an official said.

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Officials said citizens have to reach out to the police station and seek help in case they are cheated or also share information about such fraudulent apps. They requested to report all sorts of cyber frauds online at cybercrimes.gov.in (National Cyber Crimes Reporting Portal – NCRP) for quick legal action and also to block the flow of money to the fraudsters after the fraud.

Advisory
*Share trading investors should be vigilant before paying for any investment
*Investor should visit Investment Advisor office in person and pay only after verification
*Investor should go through reviews about companies before investing
*Verify with registered reputed share trading companies
* Verify with local SEBI officials.

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