‘Investment’ date, latest trap from cyber crooks

Latest Interpol notice says threat involves taking advantage of people’s vulnerabilities and luring them into a sophisticated fraud scheme

Hyderabad: Romance appears to be where cyber criminals increasingly see a key to the bank accounts of many people.

If the nude video call fraud, on which the Cyberabad Police recently issued an advisory on, was one such instance of romance or sex being used as bait to fleece money, the Interpol has issued now a Purple Notice to its 194 member countries on another fraud that plays on romantic feelings.

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The notice, which outlines a specific modus operandi of cyber crooks on dating applications, says the threat involves taking advantage of people’s vulnerabilities as they look for potential matches, and luring them into a sophisticated fraud scheme.

“In the initial stages, an artificial romance is established via a dating app. Once communication becomes regular and a certain level of trust is established, criminals share investment tips with their victims and encourage them to join a scheme. Victims are convinced to download a trading app and open an account, buy various financial products and work their way up a so-called investment chain, all under the watchful eye of their new ‘friend’,” says the notice.

As is often the case with such fraud schemes, everything is made to look legitimate. Screenshots are provided, domain names are eerily similar to real websites, and customer service agents pretend to help victims choose the right products. All is well till money is transferred or account details are shared. And then, one day, all contact stops and victims are locked out of the account. The money just vanishes.

Interpol says its Financial Crimes unit has received reports from around the world of this scam, after which the international crime fighting agency is encouraging dating app users to be vigilant and skeptical as well when entering into online relationships.

“This has become especially important as people turn to online interactions during the Covid-19 pandemic,” it adds.

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